08:53 AM EDT, 03/18/2024 (MT Newswires) -- Flow Beverage Corp. ( FLWBF ) on Monday reported a fiscal first-quarter net loss of $15.4 million, or $0.27 per share, wider than a loss of $7.7 million, or $0.14 per share, a year earlier.

Revenue for the quarter ended Jan. 31, 2024, was $8.3 million, down from $9.9 million a year earlier.

Adjusted EBITDA loss for fiscal Q1 was $9.2 million, wider than a loss of $6.2 million a year earlier.

Adjusted net loss for the quarter was $13.7 million, wider than a loss of $6.9 million a year earlier.

Looking ahead, Flow said it continues to expect to reach adjusted EBITDA profitability and positive cash flow from operations by the fourth quarter of fiscal 2024.

Flow plans to continue implementing operational cost-saving initiatives across production, warehousing, distribution, and logistics to increase margins and improve operational cash flows. The company is also focused on improving internal processes and systems to enable general and administrative expense reduction.