Tue, May 14, 4:50 PM (73 days ago)
Investview, Inc.'s Q1 2024 financial performance showed notable improvements. The company's total revenue increased by 16% to $15.67 million compared to Q1 2023, driven by a 16% rise in subscription revenue and a 28% increase in mining revenue. However, cryptocurrency and mining equipment repair revenues ceased. Operating costs rose by 5% to $13.80 million, primarily due to higher mining costs and commissions, offset by reductions in professional fees, salary, and marketing expenses. The net income for the quarter was $1.67 million, a significant improvement from $407,894 in Q1 2023. Cash flow from operations was positive, with a net increase of $3.44 million in cash and equivalents, bringing the total to $24.58 million. The company maintained a healthy liquidity position, with current assets exceeding current liabilities, resulting in a working capital of $12.96 million. Investview continues to focus on expanding its financial technology and digital asset operations, while managing uncertainties related to regulatory compliance and market risks. Future performance will be influenced by the integration of its recent acquisitions and the evolving landscape of digital assets.