CUEN
Cuentas Inc
Q1 2024 Report
Cuentas Inc (CUEN) Q1 2024 Financial Results: A Challenging Quarter Amid Growth Aspirations...
Read full report
Executive Summary
In Q3 2024, Cuentas Inc (CUEN) reported revenue of $4,000, a staggering 90% decline year-over-year and a downturn of 99.37% quarter-over-quarter. The resultant gross profit recorded a deficit of $7,000, clearly illustrating the financial strain on the company. General and administrative expenses soared to $297,000 while net income reflected a considerable loss of $399,000, indicating an urgent need for strategic recalibration.
Management addressed challenges in their earnings call, acknowledging that the company must enhance its operational efficiencies while simultaneously exploring innovative product offerings to stabilize revenue streams and regain market confidence. The current financial state necessitates not only the improvement of revenue-generating initiatives but also meticulous cost management to enhance long-term sustainability.
Key Performance Indicators
Revenue
4.00K
QoQ: -99.37% | YoY:-90.00%
Gross Profit
-7.00K
-1.75% margin
QoQ: 89.86% | YoY:93.81%
Operating Income
-306.00K
QoQ: 63.70% | YoY:65.73%
Net Income
-399.00K
QoQ: 10.34% | YoY:71.74%
EPS
-0.13
QoQ: 18.75% | YoY:80.60%
Revenue Trend
Margin Analysis
Key Insights
Revenue: $4,000, YoY down 90%, QoQ down 99.37%. Gross Profit: -$7,000, showing degradation in profitability. Net Income: -$399,000, indicating continued financial losses, up from -$445,000 in the previous quarter, which suggests slight operational improvements. Cash Flow: Operating cash flow positive at $710,000; however, net change in cash shows a reduction to $15,000, emphasizing liquidity concerns. EPS: -$0.130, a wide miss reflecting adverse financial health. Overall, the financial metrics i...