Thu, Sep 5, 1:32 PM (131 days ago)
For the second quarter of 2024, JRSIS Health Care Corporation reported revenues of $597,396, a 77% increase from $337,395 in Q2 2023. The gross profit surged to $186,112, reflecting a gross margin improvement to 31% from 12% year-over-year. However, operating expenses rose significantly by 83% to $304,830, leading to a net loss of $102,435, slightly better than the $106,020 loss in the same quarter last year. For the six months ended June 30, 2024, total revenue reached $1,097,816, up 35% from $814,389, but the net loss widened to $247,791 compared to $60,574 in 2023. The company faced substantial cash outflows, with operating cash flows of $(473,795) for 2024, contrasting with inflows of $510,997 in 2023, resulting in a working capital deficit of $286,118. The financial health remains precarious, with management expressing doubts about the company's ability to continue as a going concern unless it secures additional financing and improves operational efficiency. The company’s future operations hinge on successful fundraising and effective execution of its strategic plans amidst ongoing market uncertainties.