Thu, Aug 15, 9:13 PM (152 days ago)
Blackboxstocks Inc. reported a net loss of $877,943 for Q2 2024, an improvement from the prior year’s loss of $1,424,494, driven by a 32% reduction in operating expenses. Revenue declined 7% to $684,712, attributed to a decrease in subscriber numbers, despite an increase in average revenue per subscriber. Gross margins improved to 48% from 42% due to lower costs of revenue. For the six months ending June 30, 2024, total revenue was $1,332,722, down 16% year-over-year. The company’s cash position increased to $1,055,482 from $472,697 as of December 31, 2023, primarily due to financing activities that generated $1,266,680. However, the company remains in a precarious financial position, with substantial doubt about its ability to continue as a going concern due to ongoing operating losses. Future operations may be impacted by a planned acquisition of Evtec Aluminium, which is expected to bolster capital investment but carries inherent risks. The company also faces uncertainties related to legal proceedings and market conditions, which could affect its financial health moving forward.