CONX Corp (CNXX) Q3 2024 Earnings Report

Overview of key quantitative metrics (Q3 2024, USD):
- Revenue: $750.6 million; QoQ: +50.0%; YoY: not disclosed in data set.
- Operating Income: -$1.156 billion; Margin: -1.54%; QoQ change not explicitly provided but reflects ongoing shell-structure expenses.
- EBITDA: -$1.156 billion; EBITDA Margin: -1.54%.
- Net Income: -$3.429 billion; Net Margin: -0.457%; QoQ and YoY margin changes are not provided beyond the reported negative figures.
- Earnings per Share (basics/diluted): -$181.14 / -$162.12; Weighted average shares outstanding: 18.929 million (basic) and 21.149 million (diluted).
- Balance Sheet Highlights: Cash and cash equivalents: $175.592 billion; Total assets: $198.686 billion; Total liabilities: $211.216 billion; Stockholders’ equity: -$12.531 billion; Net debt: -$175.592 billion (net cash position).
- Liquidity/Capital Structure: Current ratio 35.85x; Quick ratio 35.85x; Cash ratio 35.84x (indicative of an extremely cash-rich shell with minimal short-term liabilities).
- Valuation/Multiples (as reported): Price-to-book ratio: -11.53 (negative due to negative equity); Price-to-sales: 0.192; Price-to-cash-flows/operating cash flows: ~51.22x; Dividend yield: 0%.
- Cash Flow per Share: Operating Cash Flow per Share: $0.0896; Free Cash Flow per Share: $0.0896.
- Notable: The four-quarter data shows sequential quarters with revenue improvements in some periods, but the dominant financial impact stems from non-operating items and a structural balance sheet typical of a corporate shell awaiting a business combination.