Wed, May 15, 1:38 PM (269 days ago)
Reliability Inc.'s Form 10-Q for the quarter ended March 31, 2024, reveals a slight increase in revenue to $5,295, up from $5,199 in Q1 2023. The EOR segment drove this growth, while other segments saw declines. Gross profit remained stable at $709, but gross margin dipped slightly to 13.4% from 13.7% a year ago. Operating loss increased to $238 from $222, mainly due to higher general and administrative expenses, which rose to $947 from $933. The company reported a net loss of $132, an improvement from a $195 loss in Q1 2023. Cash flow from operations was negative at $312, down from a positive $1,842 in the previous year. The company has collectible judgments totaling $7,779 from the Vivos Group, which it is actively pursuing. Despite net losses, management believes in its ability to meet financial obligations, citing improved cash flow from factoring and anticipated reductions in legal fees. Working capital was $7,783, down from $8,457 a year ago. The company plans to address liquidity through its factoring facility and potential future capital market activities.