Neptune Wellness reports Q4 net loss $44.5M vs. net loss $36.7M last year

Reports Q 4 revenue $12.1M vs. $11.5M last year..”Neptune Wellness Solutions has made significant strides in fiscal 2023, demonstrating our unwavering commitment to growth and innovation in the consumer-packaged goods space. Our brands, Sprout and Biodroga, have been instrumental in propelling our platform this year,” said Michael Cammarata, CEO and President of Neptune Wellness Solutions. “With Sprout’s expansion into the Organic Baby Food market across all 50 U.S. states and Canada, we are strategically focused on delivering high-quality, sustainable products to our customers. We’re excited about the cost savings and efficiencies we’ve achieved, but we acknowledge there’s more work to be done. As we transition into fiscal 2024, we remain dedicated to further optimizing our operations and improving our financial position. We recognize there are risks ahead, but we are confident that the platform we are building is the right move for our future.” Raymond P. Silcock, Chief Financial Officer of Neptune added, “As well as growing our key focus business areas of Sprout and Biodroga, Neptune is focused on further reducing corporate costs, managing expenses and improving its liquidity position into fiscal 2024. We are focused on further optimizing the supply chain for Sprout, and we have restructured production planning with $2.6 million in cost savings for the remainder of fiscal 2023 expected.”