Emerge Commerce (TSXV:ECOM) details cost optimization measures

Emerge (ECOM) has announced new synergies and cost optimizations Further to the anticipated $ 1 million in savings announced in late 2022, the company has identified an additional $ 1 million in savings and reductions The company expects these measures to be reflected in its financial results for Q1 2023 Emerge Commerce is a diversified acquirer and operator of profitable e-commerce brands Emerge Commerce (ECOM) is unchanged, trading at $ 0.085 per share

Emerge (ECOM) has announced new synergies and cost optimizations.

Further to the anticipated $ 1 million in savings announced in late 2022, the company has identified an additional $ 1 million in savings and reductions under its optimization initiative.

Measures include reducing overhead expenses (investor relations, office rent and M&A), improving margins, eliminating unprofitable revenue streams, and maximizing cross-functional synergies between Emerge HQ and portfolio brands.

The company expects these measures to be reflected in its financial results for Q1 2023.

“The implemented savings mean Emerge is yielding more revenue per employee, making it a leaner team than it has been at any point since completing our latest acquisitions,” stated Ghassan Halazon, Founder and CEO of Emerge.

“The company’s top priority for 2023 remains to optimize the business for cash flow generation, and we believe these additional savings represent another significant step towards our primary objective,” he added.

Emerge Commerce is a diversified acquirer and operator of profitable e-commerce brands, including pet products, premium meat, golf and outdoor gear. Emerge was named one of Canada’s Top Growing Companies by The Globe and Mail in 2022.

Emerge Commerce (ECOM) is unchanged, trading at $ 0.085 per share as of 9:36 am EST.

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Emerge Commerce (TSXV:ECOM) details cost optimization measures