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Neptune Wellness Solutions Inc. (NASDAQ: NEPT) Reports a Sequential Growth of $18.4 Million in revenue in its Q3 FY2022



For more than 20+ years, Neptune Wellness Solutions Inc. (NASDAQ: NEPT) has built a legacy of expertise in cannabis extraction. Its portfolio of innovative products enables the company to forge new paths and trends in consumer health and wellness. And despite the industry-changing implications, it was able to report increased revenue in its Q3 FY2022.

Revenue totalled $18.4 million with an additional $1.1 million of previously reserved sales from the previous quarter. This represented a 17% increase and the fourth consecutive quarter of revenue growth. Gross profit totalled $2.0 million, which improved by $12.0 million from the year-ago period.

According to the company’s President and C.E.O., Michael Cammarata, additional milestones included acceleration of the Cannabis sales and supply chain improvements for Sprout Foods.

Neptune is also proud of having worked so hard to improve its overall operating efficiencies while reducing corporate overheads. Also, the launch of a high–quality and sustainable Mood Ring Vapes took place in Canada.

The Appointment of the First Female into Neptune’s Board Leadership

Over the past 12 months, Neptune Wellness has transformed into a high-growth branded C.P.G. company. And according to Cammarata, they are looking forward to continuing tapping on high–growth opportunities within cannabis, personal care, food and beverage and beauty brands.

To support unlocking the opportunities before them, the fully integrated health and wellness company appointed Julie Phillips to chair its Board of Directors. Ms Philips is currently the V.P. for Herschend Entertainment Studios and serves on the Lane Thomas Foundation board.

With her wealth of experience and strong principles of E.S.G. management, she is expected to guide Neptune in positioning itself as a leading C.P.G. company structured for profitability, sustainability and social responsibility. Describing her strengths, Cammarata mentioned, “Julie has the experience and forethought to ensure Neptune hits its operational milestones and remains focused on creating new opportunities for profitable growth….’

Ms Phillips’ appointment pushes towards achieving gender parity and women representation in the historically male-dominated industries. She takes over from John Moretz, who is due for retirement, having served as Chair of Neptune’s Board over the past four years. Moretz has been working on succession planning to ensure a smooth transition.

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