Red Light Holland Q2 Revenue Up 39.1% YoY, Cuts Net Loss Thanks To ‘Strong Financial Discipline’
Red Light Holland Corp. (OTCQB:TRUFF) announced its financial results Friday for the three months ending Sept. 30, 2024, reporting revenue of CA$1.37 million ($998,263), up by 39.1% from CA$983,324 in the same period last year. For the six months ended Sept. 30, 2024, the company disclosed revenue of CA$2.93 million, up by 33.9%, from CA$2.19 million in the same period of 2023.
The Ontario-based company produces and sells functional mushrooms and mushroom home grow kits in North America and Europe, and a range of psilocybin truffles to the legal, recreational market in the Netherlands.
“Our Q2 results reflect our unwavering commitment to sustainable growth, strategic partnerships, and strong financial discipline,” stated Todd Shapiro, CEO and director of Red Light Holland. “With revenues growing by 33.9% year-over-year and a significant reduction in EBITDA and adjusted EBITDA, we are clearly on the path to long-term profitability. Notably, nearly all our income-generating portfolio companies have seen growth, with every business over the last 12 months, except one (Mush …