The following is a summary of the Know Labs, Inc. (KNW) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Know Labs reported a Q1 net loss of $3.45 million, down 9.8% from a net loss of $3.82 million in Q1 fiscal '23.

• Earnings per share improved by 50% to a loss of $0.04.

• A non-cash charge of $792,000 was recorded, primarily due to stock-based compensation of $699,000.

• Research and development expenditures for Q1 fiscal '24 were down 14.7% YoY at $1.48 million.

• Selling, general, and administrative expenses for Q1 '24 increased by 5.6% YoY to $2.01 million, mainly due to increased salaries.

• The company ended the quarter with cash and cash equivalents of $4.82 million.

Business Progress:

• Know Labs is proactively working on optimizing its Gen 1 portable device that non-invasively monitors glucose levels.

• Internal trials conducted in Q1 2024 provided insights into hyper and hypoglycemic ranges, with plans to diversify the population for future trials.

• Efforts are being directed at refining the algorithm to achieve a mean absolute relative difference (MARD) of 10% or less, meeting FDA's accuracy requirements across different glycemic ranges.

• The company expanded its intellectual property portfolio to 264 patents, primarily focused on their radio frequency spectroscopy technology.

• Know Labs added new members to its Board of Directors and advisory board to strengthen expertise across various workstreams.

• Plans are in place for participation in the 17th International Conference on Advanced Technologies, where they will present updates on their non-invasive glucose monitor and results from ongoing clinical research.

• The company has reduced its core monthly burn rate, providing the company with sufficient cash to operate until at least June 30, 2024.

• They plan to raise additional funds through equity issuance, preferred stock, and convertible debentures and have an $18 million S-3 shelf registration statement filed and declared effective.

• Know Labs is focusing on developing the second generation of its product family and exploring revenue generation outside the U.S. without needing FDA approval.

More details: Know Labs IR

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