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PlantX Life Inc. is a leading digital platform for plant-based products, serving as a one-stop shop for consumers across North America. With over 5,000 plant-based products and verticals, PlantX offers a diverse range of sustainable and cruelty-free options, including a successful line of plant-based pizzas, deep dish pizzas, and vegan essentials. The company's commitment to innovation and sustainability is evident in its partnerships and impressive monthly revenue growth. PlantX aims to make plant-based living accessible, enjoyable, and beneficial for all consumers, fostering a community of like-minded individuals seeking healthier, happier lifestyles.
PlantX Life Inc. (CSE:VEGA, OTC PINK:PLTXF) reported its 2024 fiscal year results, highlighting significant improvements in financial performance. The company achieved $7.3 million in revenue and an 8% increase in gross margins year-over-year. Notable highlights include:
- A dramatic decrease in net loss to $5,014,710 from $21,384,656 in 2023
- Improved gross margin of 46% ($3,405,421) compared to 38% ($5,088,767) in 2023
- Strategic focus on enhancing profitability and optimizing operations
- Opening of the largest vegan food hall in the USA
- Asset transfer to Veg House Holdings Inc. for 6,000,000 shares
Despite a revenue decrease, PlantX's CEO Lorne Rapkin emphasized the company's stronger financial position and focus on sustainable growth and long-term profitability.
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