Digerati Technologies reports a 5% decrease in revenue, with net loss of $4.529 million

From GlobeNewswire: 2024-06-17 09:00:00

Digerati Technologies, Inc. announced financial results for the three and nine months ended April 30, 2024, with key highlights including a 5% decrease in revenue to $7.430 million, gross profit decrease to $4.518 million, and a net loss of $4.529 million. The company is focused on increasing its customer base and recurring revenue.

For the three months ended April 30, 2024, revenue decreased by 5% to $7.430 million and gross profit decreased by 9% to $4.518 million. Operating loss increased by 9% to $1.171 million, while Adjusted EBITDA – Income decreased by 42% to $0.358 million. Net loss attributable to Digerati’s common shareholders increased by 102% to $4.529 million.

The nine months ended April 30, 2024, saw revenue decrease by 5% to $22.649 million, gross profit decrease to $14.526 million, and an operating loss of $3.617 million. Adjusted EBITDA – Income decreased by 21% to $1.768 million, while net loss attributable to common shareholders increased by 74% to $12.170 million. The company is focused on operational and financial progress.



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