SinglePoint Inc., a diversified holding company, has released its annual financial report for the fiscal year ended December 31, 2023. The report showcases the company's financial performance, business development, and future plans. Financial Performance: SinglePoint reported a revenue increase to $26.3 million, up from $21.8 million in the previous year. The growth is attributed to the full-year inclusion of Boston Solar's operations, offset by decreased sales of air purification systems. The company's gross profit rose to $7.7 million from $6.3 million year-over-year. However, operating expenses also increased to $23.3 million, primarily due to the inclusion of Boston Solar for a full year and increased professional and legal fees. SinglePoint incurred a net loss of $18.3 million, compared to a net loss of...Show More

SinglePoint Inc., a diversified holding company, has released its annual financial report for the fiscal year ended December 31, 2023. The report showcases the company's financial performance, business development, and future plans. Financial Performance: SinglePoint reported a revenue increase to $26.3 million, up from $21.8 million in the previous year. The growth is attributed to the full-year inclusion of Boston Solar's operations, offset by decreased sales of air purification systems. The company's gross profit rose to $7.7 million from $6.3 million year-over-year. However, operating expenses also increased to $23.3 million, primarily due to the inclusion of Boston Solar for a full year and increased professional and legal fees. SinglePoint incurred a net loss of $18.3 million, compared to a net loss of $9.2 million in the prior year, driven by higher operating and other expenses. Business Development: SinglePoint's primary focus remains on sustainability, with operations in solar energy solutions through Boston Solar and clean environment solutions through Box Pure Air. The company also holds interests in noncore businesses, including DIGS, EnergyWyze, ShieldSaver, and Direct Solar America. Future Plans: SinglePoint plans to continue building its portfolio through organic growth, strategic acquisitions, and partnerships. The company aims to increase market penetration, grow revenue, and improve operating margins and cash flow for its subsidiary companies.