Summary by Moomoo AI
On May 21, 2024, Ault Alliance, Inc., a diversified holding company, announced its financial results for the first quarter ended March 31, 2024. The company reported a significant increase in revenue, which rose by 55% to $44.9 million compared to the same period in the previous year. Notably, revenue from digital assets mining surged by 56% to $11.4 million, and lending and trading activities also saw an increase to $9.1 million. Ault Alliance achieved a net income of $2.5 million for common stockholders, a substantial improvement from the net loss of $48.9 million reported in the prior year's first fiscal quarter. Gross margins improved to 43%, and operating expenses decreased by 41% to $19.1 million. The company's total assets were valued at $299.8 million as of March 31, 2024. Milton 'Todd' Ault III, the Founder...Show More
