Tue, Oct 22, 1:01 PM (146 days ago)
For the quarter ended June 30, 2024, Data Call Technologies, Inc. (DCLT) reported revenues of $125,180, a decline of approximately 9% from $137,564 in Q2 2023. The increase in cost of sales to $54,588, compared to $28,765 in the prior year, significantly impacted gross margins, which fell to 56.4% from 79.1%. Operating expenses decreased to $93,000 from $103,378, but the company still posted a net loss of $23,276, a stark contrast to the net income of $5,492 in Q2 2023. For the six-month period, revenues were $263,716, down 4.7% year-over-year, driven by subscription non-renewals. Total current assets amounted to $84,274, with cash at $20,219, while current liabilities rose to $149,575, leading to negative working capital of $65,301. The company experienced a cash outflow of $16,090 from operations, reflecting ongoing challenges in revenue generation and the need for additional funding to support operations. Overall, the financial metrics indicate a deteriorating performance and heightened uncertainty regarding future operations.