05:18 PM EDT, 08/21/2024 (MT Newswires) -- Grey Wolf Animal Health (WOLF.V) on Wednesday said its second-quarter profit more than doubled on higher revenue.

The company said it earned $0.58 million, or $0.02 per share, in the period, up from $0.2 million, or $0.01, in the year-prior quarter.

Revenue rose 7.7% to $7.2 million from $6.68 million, while adjusted EBITDA rose 29% to $1.4 million.

"Q2 2024 represented our strongest historical quarter for both revenue and Adjusted EBITDA," said chief executive Angela Cechetto. "Notwithstanding the ongoing softness in the market and inter-quarterly variability, we continue to invest in our sales and marketing efforts to ensure growth over the long-term and plan to launch two new products before the year-end."

The company's shares last traded Tuesday, closing unchanged at $0.64 on the TSX Venture Exchange.