MLGO
MicroAlgo Inc
Q2 2024 Report
MicroAlgo Inc (MLGO) Q2 2024 Financial Analysis: Navigating Challenges with Improved Profitability...
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Executive Summary
MicroAlgo Inc (MLGO), a leading player in the software infrastructure sector, reported its QQ1 2024 financial results, showcasing a remarkable recovery path. Despite facing a significant year-over-year decrease in revenue of 76.92% to $20.11 million, the company achieved an impressive net income growth of 116.52%, amounting to $1.13 million. This turnaround can be attributed to improved operational efficiency and a focus on quality algorithm services.
Management characterized the quarter as transformative, emphasizing strategic adjustments and cost optimizations. The earnings call highlighted efforts to streamline operations, which resulted in a dramatic operating income increase of 103.11%, reinforcing investor confidence. Looking ahead, MicroAlgo's management underscored the importance of increasing market penetration in the intelligent chip industry as a critical growth driver.
Key Performance Indicators
Revenue
20.11M
QoQ: -7.17% | YoY:-76.92%
Gross Profit
6.06M
30.10% margin
QoQ: -5.34% | YoY:-68.04%
Operating Income
186.66K
QoQ: 102.44% | YoY:103.11%
Net Income
1.13M
QoQ: 107.11% | YoY:116.52%
EPS
0.04
QoQ: 101.10% | YoY:121.59%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue:** $20.11 million (YoY: -76.92%, QoQ: -7.17%)
- **Gross Profit:** $6.06 million (YoY: -68.04%, QoQ: -5.34%)
- **Operating Income:** $186,664 (YoY: +103.11%, QoQ: +102.44%)
- **Net Income:** $1.13 million (YoY: +116.52%, QoQ: +107.11%)
- **EPS:** $0.0367 (YoY: +121.59%, QoQ: +101.1%)