08:24 AM EDT, 08/30/2024 (MT Newswires) -- Odd Burger ( ODDAF ) said Friday that its net and comprehensive loss narrowed in its fiscal third quarter as it booked as it booked its highest quarterly revenue this year.

The franchised vegan fast-food restaurant chain posted a net and comprehensive loss of $120,467, or a loss of $0.001 per share, trimming the previous loss of $842,074, or a loss of $0.010 per share. The company said the fiscal third-quarter loss was its lowest quarterly loss since being public.

Revenue jumped to $879,367 from $860,020 as the company had two restaurant openings in Edmonton, Alberta and Ottawa, Ontario. It is expected to open an additional six units in Canada before year end, bringing the total number of expected units operational to 23.

The company also launched its Consumer Packaged Goods (CPG) line at Whole Foods Market in the third quarter.

"It is clear that we are beginning to see the benefits of our franchise model and manufacturing division on our financials, specifically on our gross profit margin and net loss," Co-Founder and CEO James McInnes said in a statement. "We have a clear sight to becoming a profitable company now, especially with our next set of store openings nearing completion and already locked in."

The company's share price jumped 22.2% yesterday to $0.165 on the TSXV.