Fri, May 17, 1:01 PM (304 days ago)
Data Call Technologies, Inc. reported a net income of $4,613 for the quarter ended March 31, 2024, reversing a net loss of $9,771 from the same period in 2023. Revenue slightly decreased to $138,536 from $139,067, while cost of sales increased to $52,726 from $50,087, resulting in a gross margin of 61.9%, down from 64.0%. The decline in revenue was attributed to incomplete renewals, and the rise in cost of sales was due to higher bandwidth requirements. Selling, general, and administrative expenses dropped significantly to $80,953 from $98,510, primarily due to reduced expenses and stock costs. The company had negative working capital of $42,271 and an accumulated deficit of $9,979,855 as of March 31, 2024. Cash flow from operating activities was negative at $(29,877), primarily influenced by changes in accounts receivable and deferred revenue. The company’s financial position indicates a need for additional capital to sustain operations.