Summary by Moomoo AI
Nukkleus Inc. reported its financial performance for the quarter ended December 31, 2023, with revenues from general support services remaining stable at $4.8 million, identical to the previous year's quarter. However, financial services revenue decreased by 23.2% to $442,391. The company's gross profit from general support services increased by 100% to $150,000, while financial services shifted from a gross loss to a profit of $308,700. Operating expenses rose significantly due to a $6.1 million bad debt expense and increased professional fees, leading to a net loss of $8.9 million, a substantial increase from the $1.1 million loss in the same quarter of the previous year. The company's working capital deficit widened to $9.7 million, and cash on hand was approximately $204,000, excluding customer custodial cash. Nukkleus Inc. also faced a...Show More
