Tue, Jul 16, 9:10 PM (53 days ago)
Stemtech Corporation's Q1 2024 financial results show a mixed performance. The company reported net sales of $1,382,570, up from $1,133,341 in Q1 2023. However, the net loss for the quarter was $1,420,629, an improvement from the $2,236,974 loss in the same period last year. Operating expenses decreased slightly to $2,048,012 from $2,139,534, while gross profit increased to $1,037,201 from $888,524. Cash flow from operations was positive at $1,017,485, driven by better working capital management. Despite these improvements, the company faces significant liquidity challenges with current liabilities exceeding current assets, raising doubts about its ability to continue as a going concern. Future operations depend on additional capital raising and achieving consistent revenue growth.