Next Meats Holdings, Inc. Reports Net Loss of $4.87 Million for the Year
Annual Revenue Declines to $1.40 Million
By USInMinutes
Published - Oct 07, 2023, 02:33 PM ET
Last Updated - Oct 07, 2023, 02:33 PM EDT
Next Meats Holdings, Inc. [NXMH], a leading provider of plant-based meat alternatives, has reported a net loss of $4.87 million for the year ended April 30, 2023. This decline in financial performance comes as the company faced challenges in the market.
Financial Performance
Despite a challenging year, Next Meats recorded annual revenues of $1.40 million, representing a decrease from the previous year's revenue of $6.95 million. The company's gross profit for the year amounted to $71,195, compared to $1.24 million in the previous year. Operating expenses were reported at $2.83 million, which includes depreciation expenses of $38,947 and general and administrative expenses of $2.79 million.
