Summary by Moomoo AI
Mobiquity Technologies, a leading advertising technology and data intelligence company, reported a significant increase in revenue for the quarter ended September 30, 2024. The company's revenue rose to $566,044, marking a 219% increase compared to $177,271 in the same period last year. This growth is attributed to a surge in political advertising revenue. Despite the revenue increase, the company incurred a net loss of $1,131,316 for the quarter, an improvement from a net loss of $1,394,271 in the previous year. The cost of revenues stood at $230,296, which is 41% of the total revenue, showing a decrease in percentage from 64% last year. Gross profit for the quarter was $335,748, up from $63,097 in the prior year, reflecting a higher gross margin. Operating expenses decreased by 10% to $1,314,839, down from $1,458,136, due to...Show More
