01:24 PM EDT, 04/29/2024 (MT Newswires) -- Emerge Commerce ( EMCMF ) , an e-commerce brand portfolio, on Monday said its fourth-quarter loss widened on lower revenue.

The company said it lost C$17.52 million, or C$0.14 per share in the quarter, compared with a loss of C$15.5 million, or C$0.15, in the year-prior period.

Revenue fell 22% to C$6.21 million from C$7.99 million.

"Operationally, we achieved strong growth in Adjusted EBITDA, particularly in Q4 2023, drove much improved gross margins, and nearly doubled positive cash flow from operations for the year. We believe the go forward business is in a good position to start driving organic growth in 2024 and beyond, with more streamlined operations and focused management efforts," chief executive Ghassan Halazon said in a release.

Emerge shares were last seen up C$0.005 to C$0.05 on the TSX Venture Exchange.

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