Fri, Jun 6, 7:50 PM (38 days ago)
**Dalrada Financial Corporation (DFCO) Q1 2024 Financial Summary** **Financial Health and Performance:** - **Revenue:** Q1 2024 revenue was $3.43 million, down from $9.47 million in Q1 2023. - **Net Loss:** Q1 2024 net loss was $9.27 million, compared to $4.05 million in Q1 2023. - **Cash Flow:** Q1 2024 saw a net cash outflow of $5.66 million from operations. - **Profit Margins:** Gross margin was negative at -48.2% for Q1 2024, indicating higher costs than revenues. - **Cash Position:** Cash and cash equivalents were $533,595 at Q1 2024, down from $812,806 at Q1 2023. **Segment Performance:** - **Genefic:** Revenue decreased by 51.7% to $2.32 million. - **Dalrada Climate Technology:** Revenue dropped by 82.1% to $442,045. - **Dalrada Precision Manufacturing:** Revenue fell by 82.1% to $303,406. - **Dalrada Technologies:** Revenue decreased by 27.8% to $368,159. **Trends and Uncertainties:** - Significant revenue declines across all segments. - Increased operating expenses and cost of revenues. - Continued reliance on related party funding and financing. - Substantial doubt about the company's ability to continue as a going concern. **Future Operations Impact:** - Plans to raise capital and accelerate sales and marketing efforts. - Focus on high-margin products and services. - Continued reliance on related party support and external financing. **Amendment Details (10-Q/A):** - Correction of revenue and accounts receivable for Q1 2024. - No other changes to the original filing. - Includes new certifications required by the Sarbanes-Oxley Act. **Conclusion:** Dalrada Financial Corporation faces significant financial challenges, including declining revenues, increased losses, and cash flow issues. The company's future operations depend on successful capital raising and strategic initiatives to improve financial performance.