Summary by Moomoo AI
Jet.AI Inc. reported financial results for the quarter ended September 30, 2024, with revenues of $3.9 million, a slight increase from $3.4 million in the same period last year. The company experienced a gross loss of $13,886 compared to a gross profit of $170,441 in the previous year, primarily due to increased operational costs. Operating expenses decreased by $1.6 million, largely due to a reduction in general and administrative expenses, including stock-based compensation. The operating loss for the quarter was $2.9 million, an improvement from a loss of $4.3 million in the prior year. Other income for the quarter was minimal at $56, compared to an expense of $24,044 in the previous year. The net loss for the quarter was $2.9 million, an improvement from a net loss of $4.3 million...Show More
