News

MustGrow Biologics Corp. (MGROF) – Reports Third Quarter Results

Health
0 min read


Monday, December 05, 2022

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q Results. MustGrow reported revenue of $1,308 (all figures in Canadian dollars) in the third quarter of 2022 versus our estimate of zero, as the Company is still in the pre-revenue stage. The Company reported a net loss of $2.13 million, or a loss of $0.04 per share, compared to our estimate of a net loss of $1.32 million or a loss of $0.03 per share. In the year ago period, MustGrow reported revenue of $12,869 and a net loss of $696,115, or a loss of $0.02 per share.

ExpensesThe increase in the net loss was driven by a large increase year-over-year in the stock-based compensation line, from $112,469 to $1.11 million, and higher than our estimate of $200,000. All other expenses were roughly in line with our expectations, although we note that the Company can experience fluctuations in expenses due to the regulatory approval processes.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Comments

0
No comments yet...
Share

Inbox Intel from Channelchek.

Informed investors make more money. And it’s all about timing. Get it when it happens.

By clicking submit you are agreeing to the Terms of Use and Privacy Policy
© 2018-2023 Noble Financial Group, Inc. All Rights Reserved. Channelchek is provided at no cost to be used for information purposes only and not as investment advisement.