Kaival Brands Q3 revenue $3.8M, net loss $3.9M; 11th Circuit vacates FDA MDO on flavored BIDI Sticks

Kaival Brands Innovations Group, Inc.

2023-Q3 EPS reported -$0.34 revenue$9,749,168

Q3 revenue $3.8M (+11% QoQ, +25% from Q1) vs $3.2M YoY; net loss ($3.9M) or ($0.09)/share.
Gross profit turned positive at $442k (11.5% margin) vs ($84k) loss in prior-year quarter.
11th Circuit vacated FDA's MDO for non-tobacco flavored BIDI Sticks, remanded to FDA; tobacco-flavored Classic in Phase III review.
International licensing deal with Philip Morris affiliate; VEEBA launched in Canada, royalties expected in Q4 FY2022.
Cash $3.4M, working capital $11.1M; expects revenue growth from renewed U.S. distribution and global expansion.

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