Captivision reports 22% increase in revenue and improved financial stability in 2024 first half.

From GlobeNewswire: 2024-09-30 07:00:00

Captivision Inc., a leading company in architectural media glass and innovative LED solutions, reported their financial performance for the past 6 months, showing a 22% increase in revenue from $12.6 million to $15.3 million. They raised $8.3 million through stock and debt financing, improving financial stability by converting $4.2 million of debt to equity.

CEO Gary Garrabrant expressed optimism over the strong revenue growth in the first half of 2024, highlighting improved profitability and financial stability. The company’s strategic debt financing and restructuring in Europe contributed to the positive financial results. Partnerships with key entertainment, hotel, and gaming companies further drive growth.

Financial results for the first half of 2024 show revenue of $15.3 million, up from $12.6 million the previous year. Captivision’s gross profit increased from 50% to 56%, driven by successful projects like Mohegan INSPIRE Entertainment Resort and others. However, the company reported a net loss of $9.3 million in the same period.

The company’s liquidity as of June 30, 2024, includes $700,000 in cash and cash equivalents and $9.4 million in net accounts receivable. Captivision leads the market with its unique architectural media glass and LED solutions, creating transparent media screens for various applications globally. They are a fast-growing provider of solutions across the LED product spectrum.



Read more at GlobeNewswire:: 캡티비전 (Captivision), 2024년 상반기 실적 발표