Summary by Moomoo AI
Asset Entities reported Q3 2024 revenues of $202,921, a 237.4% increase from $60,135 in Q3 2023, driven by growth in Discord server paying subscribers. However, net loss widened to $1.32 million from $1.19 million year-over-year, primarily due to higher operating expenses.The company strengthened its financial position through strategic initiatives, including completing a $3 million Series A Preferred Stock private placement and launching an ATM offering for up to $1.79 million. Operating expenses increased 21.4% to $1.52 million, reflecting investments in marketing, payroll and administrative costs to support growth.Asset Entities continued expanding its Discord-based services, including investment education, social media marketing, and AE.360.DDM offerings. The company's combined server user membership reached approximately 200,000 as of September 30, 2024, with management expressing confidence in having sufficient funds to support planned operations through September 2025.
