GLG Life Tech Reports Strong Q3 2024 Financial Performance

GLG Life Tech Corporation, a leader in zero-calorie natural sweeteners, has announced its financial results for Q3 2024. The company reported a 42% increase in revenue, totaling $3.4 million compared to $2.4 million in Q3 2023, and a 78% revenue increase for the first nine months of 2024, reaching $10.5 million. This growth is attributed to higher international stevia sales.

The transfer of the "Runde" subsidiary led to a significant gain, reducing liabilities. Comprehensive income for Q3 2024 reached $84.8 million, a major improvement from a $7.6 million loss the previous year. Despite a continuing operations net loss of $3.5 million, the financial restructuring has improved the company's balance sheet.

Challenges remain, including regulatory hurdles and market pressure. The company delisted from the TSX and is now listed on the NEX exchange. GLG aims to improve financial stability and maintain growth amidst competitive stevia pricing and increased raw material costs.