Cuentas | 10-Q: FY2024 Q3 Revenue: USD 676 K

LB filings
2025.07.03 10:53
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Revenue: As of FY2024 Q3, the actual value is USD 676 K.

EPS: As of FY2024 Q3, the actual value is USD -0.98.

Segment Revenue

  • Telecommunications: Revenue decreased from $57,000 in 2023 to $26,000 in 2024.
  • Wholesale Telecommunication Services: Revenue decreased from $860,000 in 2023 to $569,000 in 2024.
  • Digital Products and General Purpose Reloadable Cards: Revenue slightly decreased from $83,000 in 2023 to $81,000 in 2024.

Operational Metrics

  • Gross Loss: Total gross loss decreased from -$247,000 in 2023 to -$84,000 in 2024.
  • Operating Expenses: Operating expenses decreased from $3,512,000 in 2023 to $1,561,000 in 2024.
  • Net Loss: Net loss decreased from -$4,294,000 in 2023 to -$2,916,000 in 2024.

Cash Flow

  • Net Cash Used in Operating Activities: Decreased from -$3,201,000 in 2023 to -$592,000 in 2024.
  • Net Cash Provided by Investing Activities: Increased from -$2,238,000 in 2023 to $81,000 in 2024.
  • Net Cash Provided by Financing Activities: Decreased from $6,030,000 in 2023 to $321,000 in 2024.

Unique Metrics

  • Loss on Impairment of Investment: Recorded a loss of $1,216,000 related to Brooksville Development Partners, LLC.

Future Outlook and Strategy

  • Core Business Focus: The company is focusing on integrating FinTech services to deliver mobile financial services to underserved populations in the USA. It aims to enhance its technology platforms and increase sales through Cuentas-SDI and new FinTech solutions.
  • Non-Core Business: The company has exited the prepaid debit-card vertical but remains engaged in the FinTech sector, leveraging InComm’s distribution network for digital-content products.
  • Priority: The company plans to secure additional financing sources to support operations and complete the development of new portal and financial technology capabilities.
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