MLGO
MicroAlgo Inc
Q4 2023 Report
MicroAlgo Inc (MLGO) Q4 2023 Financial Results: Challenges Continue Amidst Growth in Revenue...
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Executive Summary
MicroAlgo Inc reported a mixed performance in Q2 2024, with revenue of $19.98 million, reflecting a decline of approximately 1.26% year-over-year and a notable 10.34% decrease from the previous quarter. However, the company achieved a remarkable increase in net income to $1.12 million, marking a significant uptick of 127.32% compared to the prior year. The stark contrast between revenue decline and profitability growth underscores effective cost management and operational efficiency improvements.
Management highlighted a focus on algorithm optimization and intelligent chips, which continue to drive demand in the evolving tech landscape. Despite the revenue challenges, the increase in profitability indicates strategic adaptations and potential resilience in a competitive market. Investors should note the volatility in revenue but can find reassurance in the company's commitment to enhancing operational efficiencies and navigating through market fluctuations effectively.
Key Performance Indicators
Revenue
19.98M
QoQ: -10.34% | YoY:-1.26%
Gross Profit
6.02M
30.12% margin
QoQ: -8.56% | YoY:-9.83%
Operating Income
185.46K
QoQ: 101.17% | YoY:111.91%
Net Income
1.12M
QoQ: 106.87% | YoY:127.32%
EPS
0.04
QoQ: 101.06% | YoY:103.92%
Revenue Trend
Margin Analysis
Key Insights
- **Total Revenue**: $19.98 million, down 1.26% YoY, down 10.34% QoQ. ### Profitability Insights
- **Gross Profit**: $6.02 million (Gross Profit Margin: 30.12%), down 9.83% YoY, down 8.56% QoQ.
- **Operating Income**: $0.19 million, up 111.91% YoY, up 101.17% QoQ.
- **Net Income**: $1.12 million (Net Profit Margin: 5.60%), up 127.32% YoY, up 106.87% QoQ.
- **EPS**: $0.036, up 103.92% YoY, up 101.06% QoQ. ### Balance Sheet Health