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N2OFF | 10-Q: Q3 2024 Earnings Report

N2OFF | 10-Q: Q3 2024 Earnings Report

N2OFF | 10-Q：2024財年三季報
美股SEC公告 ·  11/15 05:24

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N2OFF, Inc. reported Q3 2024 financial results, with revenue decreasing 56% year-over-year to $9,104. The company posted a net loss of $2.31 million, narrowing 24% from $3.04 million in Q3 2023. Gross loss was $67,657 compared to $0 in the prior year period, mainly due to a one-time inventory write-off in South Africa.Operating expenses decreased significantly, with R&D expenses down 93% to $122,410 as a result of cost reduction measures. General and administrative expenses increased 17% to $1.29 million due to higher professional services and share-based compensation costs. The company ended the quarter with $2.75 million in cash and cash equivalents.N2OFF entered into a facility agreement for up to €6 million in financing and issued a warrant to purchase 1.85 million shares at $1.00 per share. The company also received a Nasdaq non-compliance notice for failing to maintain a minimum $1.00 bid price and has until January 6, 2025 to regain compliance. Management is focused on commercializing its eco-friendly crop protection solutions and converting pilots into paying customers.
N2OFF, Inc. reported Q3 2024 financial results, with revenue decreasing 56% year-over-year to $9,104. The company posted a net loss of $2.31 million, narrowing 24% from $3.04 million in Q3 2023. Gross loss was $67,657 compared to $0 in the prior year period, mainly due to a one-time inventory write-off in South Africa.Operating expenses decreased significantly, with R&D expenses down 93% to $122,410 as a result of cost reduction measures. General and administrative expenses increased 17% to $1.29 million due to higher professional services and share-based compensation costs. The company ended the quarter with $2.75 million in cash and cash equivalents.N2OFF entered into a facility agreement for up to €6 million in financing and issued a warrant to purchase 1.85 million shares at $1.00 per share. The company also received a Nasdaq non-compliance notice for failing to maintain a minimum $1.00 bid price and has until January 6, 2025 to regain compliance. Management is focused on commercializing its eco-friendly crop protection solutions and converting pilots into paying customers.
N2OFF公司發佈了2024年第三季度財務結果，營業收入同比下降了56%，降至9,104美元。公司淨虧損爲231萬，較2023年第三季度的304萬縮窄了24%。毛虧損爲67,657美元，而去年同期爲0，主要由於在南非的一次性庫存註銷。營業費用大幅下降，研發費用下降了93%，降至122,410美元，這是由於採取了成本削減措施。由於專業服務和股票補償成本增加，普遍和行政費用增長了17%，達到129萬。公司在季度末現金及現金等價物爲275萬。N2OFF簽署了一項最高600萬歐元的融資協議，併發放了一份以每股1.00美元購買185萬股的認購權證。公司還收到了納斯達克的非合規通知，因爲未能維持最低1.00美元的買盤價，並有直到2025年1月6日的時間來恢復合規。管理層專注於商業化其環保型作物保護解決方案，將試點項目轉化爲付費客戶。
N2OFF公司發佈了2024年第三季度財務結果，營業收入同比下降了56%，降至9,104美元。公司淨虧損爲231萬，較2023年第三季度的304萬縮窄了24%。毛虧損爲67,657美元，而去年同期爲0，主要由於在南非的一次性庫存註銷。營業費用大幅下降，研發費用下降了93%，降至122,410美元，這是由於採取了成本削減措施。由於專業服務和股票補償成本增加，普遍和行政費用增長了17%，達到129萬。公司在季度末現金及現金等價物爲275萬。N2OFF簽署了一項最高600萬歐元的融資協議，併發放了一份以每股1.00美元購買185萬股的認購權證。公司還收到了納斯達克的非合規通知，因爲未能維持最低1.00美元的買盤價，並有直到2025年1月6日的時間來恢復合規。管理層專注於商業化其環保型作物保護解決方案，將試點項目轉化爲付費客戶。
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