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Update ! Not bad
$SatixFy Communications (SATX.US)$ Financial Highlights for the First Half of 2024
•Total revenues for the first half of 2024 were $6.1 million, an increase of 7% compared to $5.7 million in the first half of 2023. The majority of revenues were product sales, driven by commencement of shipment of engineering sample of space-grade ASICs. The decrease in revenues from development services and preproduction provided to customers was primarily due to the completion of various development services agreements and the shift towards product sales.
• Gross profit for the first half of 2024 was $4.5 million (gross margin of 74%), a 96% increase from $2.3 million (gross margin of 41%) in the first half of 2023. The increase in gross profit and margin was due to the product mix favoring higher-margin space-grade ASIC products.
•Operating loss was $13.7 million in the first half of 2024, a 17% improvement from the loss of $16.6 million in the first half of 2023. The increase was mainly attributed to a higher gross profit and a reduction in operating expenses, as described below.
•Total revenues for the first half of 2024 were $6.1 million, an increase of 7% compared to $5.7 million in the first half of 2023. The majority of revenues were product sales, driven by commencement of shipment of engineering sample of space-grade ASICs. The decrease in revenues from development services and preproduction provided to customers was primarily due to the completion of various development services agreements and the shift towards product sales.
• Gross profit for the first half of 2024 was $4.5 million (gross margin of 74%), a 96% increase from $2.3 million (gross margin of 41%) in the first half of 2023. The increase in gross profit and margin was due to the product mix favoring higher-margin space-grade ASIC products.
•Operating loss was $13.7 million in the first half of 2024, a 17% improvement from the loss of $16.6 million in the first half of 2023. The increase was mainly attributed to a higher gross profit and a reduction in operating expenses, as described below.
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