GPO Plus Inc (GPOX) reported QQ3 2024 results with a notable top-line improvement to approximately $1.09 million in revenue, but the quarter remained deeply unprofitable with a net loss of $0.884 million and negative EBITDA of $0.712 million. The gross margin stood at 14.1%, and operating margins remained materially negative (EBITDA margin -65.3%, operating income margin -68.6%), underscoring the business still operates well below break-even levels despite a favorable year-over-year revenue comparison driven by a low base in the prior year.
The balance sheet signals pronounced liquidity risk: cash of about $0.407 million, total debt of $2.806 million, and negative stockholders’ equity of roughly $3.82 million. Current liabilities exceed current assets by a wide margin, producing a current ratio of 0.177 and a cash ratio of 0.083. Cash flow from operations was negative at $0.291 million for the period, with free cash flow at negative $0.322 million. Financing activity provided a one-time infusion of about $0.655 million through stock issuance, helping to modestly improve liquidity, but the company remains heavily reliant on external funding to fund ongoing operations.
Compared with prior quarters in the four-quarter window, QQ3 2024 shows a strong year-over-year revenue uplift (driven by a low prior-year base) but a mixed quarter-on-quarter trajectory (QoQ revenue down ~10.5% from Q2), with net income improving modestly on a sequential basis despite continued operating losses. Lacking formal forward guidance in the provided materials, the near-term path hinges on improving gross margin, sustaining revenue momentum, and achieving positive cash flow while addressing the capital structure and liquidity runway.