No @FreeFromStyle .... Zip’s net loss of $414 million for FY23 compares with a $1.1 billion loss a year earlier, with the latest result buoyed by a 16 per cent surge in group revenue to a record $693.2 million.
Zip strengthened its balance sheet in FY23 by reducing the outstanding face value of its senior convertible note from $400 million to $137.8 million. Since the end of June, the outstanding face value has been cut to $130.5 million.
Convertible noteholders take a big haircut.
Zip's U.S. unit, which accounted for 45% of annual revenue, exited fiscal 2023 with positive monthly earnings, once tax, depreciation and amortization are stripped out.
BE Careful of the BS from Shorters' here !!
No @FreeFromStyle .... Zip’s net loss of $414 million for FY23...
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