ToughBuilt falls after FY loss widens

Toughbuilt Industries

16/03/2023 11:54

March 16 (Reuters) -    ** Construction tools maker
ToughBuilt Industries  TBLT.O  shares fall 14.5% to $1.59
premarket
    ** Co's net loss in 2022 was about $39.8 mln, or $7.16 per
share, vs $37.5 mln in 2021
    ** Operating expenses increased to $58.4 mln in 2022 from
$51.4 mln in 2021
    ** Increase in operating expenses was primarily due to
additional hiring and marketing expenses
    ** Rev grew 36% to about $94.9 mln in 2022 and 20% in Q4 to
$29.6 mln
    ** TBLT fell 20.5% YTD



 (Reporting by Vaibhav Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))