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Novra Technologies Inc. (TSXV: NVI) released its financial results for the year ended December 31, 2023, showcasing a return to net income profitability after a slow start. The company reported a $136 thousand net income, a $610 thousand improvement from 2022, with Adjusted EBITDA of $845 thousand. Novra strategically reduced operating expenses while maintaining product quality and service excellence, leading to a strong cash position at the end of the period. The company is focusing on transitioning hardware products into software and services to ensure revenue stability and growth.
