Shares of Auxly Cannabis Group Inc. (CBWTF) declined 7.7% on Monday after the company reported wider-than-expected loss for the first quarter of 2022. Quarterly loss of $0.05 per share lagged the consensus loss estimate of $0.02 per share. The company had posted a loss of $0.01 per share in the same quarter last year. Auxly engages in investment, and financial and banking solutions. It focuses on equity and debt investments in private and public companies in various industries, including the cannabis industry. Net revenues of $22.6 million more than doubled from $9.2 million in the same quarter last year. The company posted adjusted EBITDA of negative $5.
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