The following is a summary of the OneSoft Solutions Inc. (OSSIF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 revenue increased by $609,000 or 24% over Q2 2023.

• Gross profit increased 25% due to the increase in revenue and the gross margin maintained at 76%.

• Net loss for Q2 2024 was $615,000, marginally higher than the $558,000 in Q2 2023 due to increased staff costs and non-cash expenses.

• Over six months in 2024, revenue increased $1,307,000 or 28%.

• The company generated $942,000 in cash over the six months ending June 30, 2024, increasing cash balances to $5,750,000.

Business Progress:

• Launched SIM contract with first South American customer and commenced implementation with Accenture.

• Conducted a company-wide in-person SWOT analysis to refine operational strategies.

• Achieved significant quarterly revenue growth, averaging 13.6% over 32 quarters.

Opportunities:

• Broad market check and strategic review led to the decision to sell to irth, leveraging their resources for growth.

• Expectation to close additional sales and increase revenue in H2 of 2024 as current and new customers expand SIM functionality.

Risks:

• Revenue headwinds from customer delays in signing new contracts despite increasing demand for SIM upgrades.

• Need for additional capital to sustain growth and technical advancements, without which the company could face constraints in maintaining competitive edge.

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