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Minim, Inc. (Minim) reported a challenging quarter with a significant year-over-year decline in financial performance for the period ending September 30, 2023. Net sales plummeted by 51.6% to $6.7 million from $13.8 million in the same quarter of the previous year. The company's gross profit turned negative, posting a loss of $3 million compared to a profit of $3.1 million in the prior year, primarily due to insufficient sales to cover fixed and variable costs. Operating expenses decreased by 47.1% to $3.7 million, reflecting cost reduction efforts across selling and marketing, general and administrative, and research and development activities. Despite these reductions, Minim incurred a net loss of $6.8 million, a significant increase from the $4.1 million loss in the same quarter of the previous year. The company...Show More
Minim, Inc. (Minim) reported a challenging quarter with a significant year-over-year decline in financial performance for the period ending September 30, 2023. Net sales plummeted by 51.6% to $6.7 million from $13.8 million in the same quarter of the previous year. The company's gross profit turned negative, posting a loss of $3 million compared to a profit of $3.1 million in the prior year, primarily due to insufficient sales to cover fixed and variable costs. Operating expenses decreased by 47.1% to $3.7 million, reflecting cost reduction efforts across selling and marketing, general and administrative, and research and development activities. Despite these reductions, Minim incurred a net loss of $6.8 million, a significant increase from the $4.1 million loss in the same quarter of the previous year. The company's liquidity position remains a concern, with cash and cash equivalents at $0.5 million and a working capital deficit of $0.3 million. Minim has taken steps to align its cost structure with sales and increase liquidity, but substantial doubt remains about its ability to continue as a going concern without additional financing. The company's future plans include continued investment in research and development to expand hardware product offerings and software solutions, with a focus on premium WiFi 6E, WiFi 6, and intelligent networking products.
Minim, Inc.（Minim）报告了一个充满挑战的季度，截至2023年9月30日的财务业绩同比大幅下降。净销售额从去年同期的1,380万美元下降了51.6％，至670万美元。该公司的毛利转为负数，亏损300万美元，而去年同期的利润为310万美元，这主要是由于销售额不足以支付固定和可变成本。运营支出下降了47.1％，至370万美元，这反映了销售和营销、一般和管理以及研发活动中的成本削减工作。尽管出现了这些下降，但Minim还是出现了680万美元的净亏损，较去年同期的410万美元亏损大幅增加。该公司的流动性状况仍然令人担忧，现金及现金等价物为50万美元，营运资金赤字为30万美元。Minim已采取措施使其成本结构与销售保持一致并增加流动性，但其在没有额外融资的情况下继续作为持续经营企业的能力仍然存在重大疑问。该公司的未来计划包括继续投资研发以扩大硬件产品和软件解决方案，重点是优质的WiFi 6E、WiFi 6和智能网络产品。
Minim, Inc.（Minim）报告了一个充满挑战的季度，截至2023年9月30日的财务业绩同比大幅下降。净销售额从去年同期的1,380万美元下降了51.6％，至670万美元。该公司的毛利转为负数，亏损300万美元，而去年同期的利润为310万美元，这主要是由于销售额不足以支付固定和可变成本。运营支出下降了47.1％，至370万美元，这反映了销售和营销、一般和管理以及研发活动中的成本削减工作。尽管出现了这些下降，但Minim还是出现了680万美元的净亏损，较去年同期的410万美元亏损大幅增加。该公司的流动性状况仍然令人担忧，现金及现金等价物为50万美元，营运资金赤字为30万美元。Minim已采取措施使其成本结构与销售保持一致并增加流动性，但其在没有额外融资的情况下继续作为持续经营企业的能力仍然存在重大疑问。该公司的未来计划包括继续投资研发以扩大硬件产品和软件解决方案，重点是优质的WiFi 6E、WiFi 6和智能网络产品。
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