The Montreal-based meal-kit and grocery delivery company reported an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of $10.6 million in the third quarter, down from $13.6 million in the previous quarter. (The Logic)

Talking point: The company expects to return to a positive EBITDA in the first half of its 2023 financial year, with help from its recently launched Project Blue Ocean, which focuses on driving high-value customer growth and cost-cutting measures. Goodfood started to implement cost-cutting initiatives in its latest quarter, like reducing ingredients in its ready-to-eat meals. It also said it plans to “optimize our facilities infrastructure.” In April, my colleague Martin reported the company laid off 70 staff and shuttered its Ontario distribution centre. While demand for grocery delivery soared in the beginning of the pandemic, rising inflation has led some consumers who ordered groceries online to scale back.