CUENTAS INC | 10-Q: FY2024 Q2 Revenue: USD 672 K

LB filings
2025.07.03 10:54
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Revenue: As of FY2024 Q2, the actual value is USD 672 K.

EPS: As of FY2024 Q2, the actual value is USD -0.85.

Segment Revenue

  • Telecommunications: Revenue for the six months ended June 30, 2024, was $26,000, compared to $74,000 for the same period in 2023.
  • Wholesale Telecommunication Services: Revenue for the six months ended June 30, 2024, was $569,000, with no comparable revenue in 2023.
  • Digital Products and General Purpose Reloadable Cards: Revenue for the six months ended June 30, 2024, was $77,000, compared to $30,000 for the same period in 2023.

Operational Metrics

  • Gross Profit (Loss): The gross loss for the six months ended June 30, 2024, was $77,000, compared to a gross loss of $172,000 for the same period in 2023.
  • Operating Expenses: Total operating expenses for the six months ended June 30, 2024, were $1,262,000, compared to $2,407,000 for the same period in 2023, representing a decrease of $1,145,000.
  • Net Loss: The net loss for the six months ended June 30, 2024, was $2,517,000, compared to a net loss of $3,107,000 for the same period in 2023.

Cash Flow

  • Net Cash Used in Operating Activities: For the six months ended June 30, 2024, net cash used in operating activities was $520,000, compared to $2,353,000 for the same period in 2023.
  • Net Cash Provided by Investing Activities: For the six months ended June 30, 2024, net cash provided by investing activities was $50,000, compared to net cash used of $2,157,000 for the same period in 2023.
  • Net Cash Provided by Financing Activities: For the six months ended June 30, 2024, net cash provided by financing activities was $321,000, compared to $4,315,000 for the same period in 2023.

Future Outlook and Strategy

  • Core Business Focus: The company is focusing on using proprietary technologies to integrate FinTech services into solutions that deliver mobile financial services, prepaid debit, and digital content services to underserved populations in the USA. The company plans to leverage its technology platform to help communities enter the modern financial marketplace.
  • Non-Core Business: The company has made equity investments in real estate projects in Florida under the name Cuentas Casa, aiming to provide affordable housing and introduce fintech solutions to underserved communities.
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