Wed, Jul 2, 1:50 PM (12 days ago)
**Summary of Cuentas, Inc. (CUEN) Q3 2024 Financial Performance** **Revenue and Profit Margins:** - Total revenue for Q3 2024 was $4,000, a significant decrease from $895,000 in Q3 2023. - Revenue breakdown: Telecommunications ($0), Wholesale telecommunication services ($860,000), Digital products ($4,000). - Gross loss for Q3 2024 was $7,000, compared to a gross loss of $76,000 in Q3 2023. **Cash Flow and Earnings Changes:** - Net loss for Q3 2024 was $399,000, an improvement from a net loss of $1,187,000 in Q3 2023. - Operating cash flow showed a net cash used of $592,000 for the nine months ended September 30, 2024. - Investing activities provided $81,000 in cash, primarily from the sale of an investment in an unconsolidated entity. - Financing activities received $321,000, mainly from short-term loans. **Quarterly Performance Discussion:** - The company faced liquidity issues and a going concern uncertainty due to negative working capital and accumulated deficit. - Significant events included the sale of interests in Brooksville Development Partners, LLC, and settlements with creditors. - The company is focusing on fintech services and real estate investments but continues to face financial challenges. **Trends and Uncertainties:** - Revenue trends show a decline, particularly in digital products and general-purpose reloadable cards. - Operating expenses decreased significantly, contributing to a reduced net loss. - Future operations depend on securing additional financing and improving revenue streams. **Future Operations Impact:** - The company aims to leverage fintech solutions and real estate investments to generate revenue. - Continued efforts to raise capital and manage legal issues are crucial for sustaining operations. **Note:** Amounts are in thousands. The company's financial health remains precarious, with substantial doubt about its ability to continue as a going concern.