Summary by Moomoo AI
Bolt Projects Holdings reported Q3 2024 financial results, with revenue of $5,000 and net income of $6.4 million compared to a net loss of $5.6 million in Q3 2023. The quarter was marked by the completion of its merger with Golden Arrow Merger Corp in August 2024, which provided $5.3 million in gross proceeds. Operating expenses increased to $20.2 million from $5.2 million year-over-year, primarily due to stock-based compensation expenses.The company recognized significant non-cash gains from the remeasurement of warrant liabilities, with $24.3 million from public placement warrants and $12.7 million from private placement warrants. However, these gains were partially offset by a $14.6 million loss from remeasurement of convertible notes. Operating cash burn improved to $13.4 million for the nine months ended September 30, 2024, compared to $24.1 million in the prior...Show More
