Mon, Aug 19, 3:16 PM (148 days ago)
For Q3 2024, Exceed World, Inc. reported revenues of $8,358,000, a 19.4% increase from $6,999,000 in Q3 2023, driven by enhanced promotional activities. However, for the nine-month period ending June 30, 2024, revenue decreased to $19,544,000 from $21,152,000, attributed to reduced recruitment of premium members. The company recorded a net income of $48,000 for Q3 2024, contrasting with a net loss of $495,000 in Q3 2023, primarily due to tax credits. In contrast, the nine-month net loss widened to $394,000 from $162,000, reflecting the revenue decline. Cash flow from operations improved significantly, with inflows of $3,092,000 compared to outflows of $4,903,000 in the same period last year. As of June 30, 2024, cash reserves stood at $19,534,000, providing sufficient liquidity for ongoing operations. Total liabilities increased to $8,419,000 from $6,670,000, influenced by rising accounts payable. The company's working capital decreased to $12,473,000 from $14,739,000. The management emphasizes future growth through expanded sales networks and member benefits, while facing uncertainties related to recruitment and market conditions.