Crown Electrokinetics Corp. reported Q3 2024 revenue of $8.0 million, compared to no revenue in Q3 2023, primarily driven by its Fiber Optics division and newly established Water Solutions businesses. The company's gross profit reached $1.4 million, while operating expenses increased to $7.2 million, resulting in a net loss of $5.9 million for the quarter.The company's strategic diversification continued with the establishment of new subsidiaries, including Element 82 for lead detection services and PE Pipelines for water infrastructure projects. The Fiber Optics division secured new contracts, while the Slant Wells group contributed $2.8 million to quarterly revenue. Management strengthened internal controls and implemented remediation measures to address financial reporting processes.As of September 30, 2024, Crown maintained a cash position of $3.1 million, supported by successful capital raises through equity lines of credit and at-the-market offerings. The company raised net proceeds of $3.6 million through its equity line of credit and $1.2 million through at-the-market offerings during Q3, though management noted substantial doubt about its ability to continue as a going concern.

Crown Electrokinetics Corp. reported Q3 2024 revenue of $8.0 million, compared to no revenue in Q3 2023, primarily driven by its Fiber Optics division and newly established Water Solutions businesses. The company's gross profit reached $1.4 million, while operating expenses increased to $7.2 million, resulting in a net loss of $5.9 million for the quarter.The company's strategic diversification continued with the establishment of new subsidiaries, including Element 82 for lead detection services and PE Pipelines for water infrastructure projects. The Fiber Optics division secured new contracts, while the Slant Wells group contributed $2.8 million to quarterly revenue. Management strengthened internal controls and implemented remediation measures to address financial reporting processes.As of September 30, 2024, Crown maintained a cash position of $3.1 million, supported by successful capital raises through equity lines of credit and at-the-market offerings. The company raised net proceeds of $3.6 million through its equity line of credit and $1.2 million through at-the-market offerings during Q3, though management noted substantial doubt about its ability to continue as a going concern.