Vystar Corp Reports Net Loss of $3.96 Million for the Year
Annual Revenue of $116.53 Million
By USInMinutes
Published - Oct 10, 2023, 05:17 PM ET
Last Updated - Oct 10, 2023, 05:17 PM EDT
Vystar Corp [VYSTD], a leading company in the industry, has announced its financial results for the year ending December 31, 2022. The company reported a net loss of $3.96 million, compared to a net loss of $2.69 million in the previous year. The annual revenue for the year was $116.53 million.
Financial Performance
Despite the net loss, Vystar Corp continued to demonstrate strong financial performance during the year. The company achieved an operating income of $(2.95) million, reflecting a significant improvement compared to the previous year. This improvement can be attributed to the cost reduction initiatives implemented by the company.
