Summary by Moomoo AI
Minim, Inc., a company specializing in intelligent networking products, reported a significant year-over-year decline in financial performance for the quarter ended June 30, 2024. The company's net sales plummeted to $0, a 100% decrease from the $7.2 million reported in the same quarter of the previous year. This drastic drop in sales led to a net loss of $487,912 for the quarter, compared to a net loss of $5.6 million in the prior year. Over the six-month period, net sales decreased by 96.4% to $639,893, resulting in a net loss of $3.7 million, an improvement from the $9.7 million loss in the same period of 2023. The company's operating loss also saw a reduction, indicating some cost management despite the revenue shortfall. Minim's business development faced...Show More
