CUEN
Cuentas Inc
Q3 2024 Report
Cuentas Inc (CUEN) Q3 2024 Financial Results: Steep Losses Highlight Challenges Ahead...
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Executive Summary
Cuentas Inc (CUEN) reported a remarkable recovery in its Q4 2023 results, showcasing a substantial revenue increase of 50.39% quarter-over-quarter (QoQ) to $1.346 million, marking a notable shift in the company's trajectory after previous declines. The strategic enhancements in its fintech services have fostered this growth, despite lingering challenges in cost management that led to a gross loss of $140,000. Encouragingly, net income surged by an impressive 122.89% year-over-year (YoY) to $2.098 million, fueled by other income sources which offset operational losses. This performance positions Cuentas favorably for investors looking at long-term growth in the underserved banking market.
Key Performance Indicators
Revenue
1.35M
QoQ: 50.39% | YoY:71.03%
Gross Profit
-140.00K
-10.40% margin
QoQ: -84.21% | YoY:-177.35%
Operating Income
-2.65M
QoQ: -125.92% | YoY:-52.30%
Net Income
2.10M
QoQ: 276.75% | YoY:122.89%
EPS
0.94
QoQ: 277.36% | YoY:114.14%
Revenue Trend
Margin Analysis
Key Insights
**Financial Performance Metrics**:: **Revenue**: $1,346,000 (YoY: +71.03%, QoQ: +50.39%) **Gross Profit**: $-140,000 (YoY: -177.35%, QoQ: -84.21%) **Operating Income**: $-2,650,000 (YoY: -52.30%, QoQ: -125.92%) **Net Income**: $2,098,000 (YoY: +122.89%, QoQ: +276.75%) **EPS**: $0.94 (YoY: +114.14%, QoQ: +277.36%) Cuentas Inc continues to navigate through operational hurdles while improving net income through diversification of income sources, reflecting resilience in its financial s...