USBC, Inc. Q1 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

Know Labs Q1 FY 2024 Earnings Summary

  • Net Loss: $3.45 million, improved from $3.82 million in Q1 FY 2023 (↓9.8%).
  • EPS: Loss of $0.04 per share vs. $0.08 in prior year (↑50% improvement before preferred stock dividends).
  • R&D Expenses: $1.48 million, down from $1.74 million in Q1 FY 2023 (↓14.7%).
  • SG&A Expenses: $2.01 million, up from $1.91 million year-over-year (↑5.6%) due to increased personnel costs.
  • Cash & Equivalents: $4.82 million as of Dec 31, 2023 (↓from $8.02 million on Sep 30, 2023).
  • Net Cash Used in Operations: $3.39 million in Q1 FY 2024 vs. $2.92 million in Q1 FY 2023.
  • Shareholder Equity: $1.23 million vs. $3.74 million in previous quarter (Sep 30, 2023).
  • Capital Plans: Company expects to raise funds via equity, preferred stock and convertible debentures. Filed $18 million S-3 shelf registration.
  • Going Concern: Company has sufficient cash to operate until at least June 30, 2024.

Key Operational Highlights

  • Prototype Development: Continued progress on hardware for non-invasive glucose monitoring. Gen 1 portable prototype developed; now being miniaturized for next iteration (Gen 2).

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Greetings, and welcome to the Know Labs First Quarter 2024 Earnings Conference Call. Please note this conference call is being recorded. You may submit questions through the Q&A box on the webcast at any time. I'll now turn the conference over to Jordyn Hujar, Know Labs’ Chief of Staff. Thank you, Jordyn. You may begin. Jordyn Hujar : Thank you, operator. Thank you, everyone, for joining us for today's conference call to review Know Labs first quarter 2024 financial results and operating highlights. If you have not seen today's financial results, press release and 10-Q filings, please visit the Investors page on the company's website at www.knowlabs.co. Before turning the call over to Ron Erickson, Know Labs' Chairman and Chief Executive Officer, I would like to remind you that during this conference call, the company will make projections and forward-looking statements regarding future events. Any statements that are not historical facts are forward-looking statements. We encourage you to review the company's SEC filings, including, without limitation, the company's Forms 10-K and 10-Qs, which identify specific risk factors that may cause actual results or events to differ materially from those described in these forward-looking statements. These factors may include, without limitation, risks inherent in the development and/or commercialization of potential diagnostic products, uncertainty in the results of clinical trials or regulatory approvals, the need to obtai

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional