Health and wellness company Novo Integrated Sciences,Inc (NASDAQ:NVOS) stated on Tuesday its net loss of USD1.807m for the fiscal quarter ended 30 November 2021.
This marks a rise of 134.2% net loss of from USD771,470 for the same period in 2020, due an increase in foreign currency transaction losses, and a temporary increase in overhead expenses associated with the acquisitions of Acenzia, PRO-DIP, and Terragenx .
Revenues of USD3.16m were generated for the three months ended 30 November 2021, representing a growth of 46.7% over the revenues of USD2.16m for the same period in 2020, due to the acquisition of Acenzia Inc in June 2021.
Operating costs of USD2.63m were recorded for the three months ended 30 November 2021, a rise of 67.6% versus USD1.57m for the same period in 2020, due to the temporary increase in overhead expenses associated with the acquisitions of Acenzia, PRO-DIP and Terragenx.
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