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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）報告了一個充滿挑戰的季度，截至2023年9月30日的財務業績同比大幅下降。淨銷售額從去年同期的1,380萬美元下降了51.6％，至670萬美元。該公司的毛利轉爲負數，虧損300萬美元，而去年同期的利潤爲310萬美元，這主要是由於銷售額不足以支付固定和可變成本。運營支出下降了47.1％，至370萬美元，這反映了銷售和營銷、一般和管理以及研發活動中的成本削減工作。儘管出現了這些下降，但Minim還是出現了680萬美元的淨虧損，較去年同期的410萬美元虧損大幅增加。該公司的流動性狀況仍然令人擔憂，現金及現金等價物爲50萬美元，營運資金赤字爲30萬美元。Minim已採取措施使其成本結構與銷售保持一致並增加流動性，但其在沒有額外融資的情況下繼續作爲持續經營企業的能力仍然存在重大疑問。該公司的未來計劃包括繼續投資研發以擴大硬件產品和軟件解決方案，重點是優質的WiFi 6E、WiFi 6和智能網絡產品。
Minim, Inc.（Minim）報告了一個充滿挑戰的季度，截至2023年9月30日的財務業績同比大幅下降。淨銷售額從去年同期的1,380萬美元下降了51.6％，至670萬美元。該公司的毛利轉爲負數，虧損300萬美元，而去年同期的利潤爲310萬美元，這主要是由於銷售額不足以支付固定和可變成本。運營支出下降了47.1％，至370萬美元，這反映了銷售和營銷、一般和管理以及研發活動中的成本削減工作。儘管出現了這些下降，但Minim還是出現了680萬美元的淨虧損，較去年同期的410萬美元虧損大幅增加。該公司的流動性狀況仍然令人擔憂，現金及現金等價物爲50萬美元，營運資金赤字爲30萬美元。Minim已採取措施使其成本結構與銷售保持一致並增加流動性，但其在沒有額外融資的情況下繼續作爲持續經營企業的能力仍然存在重大疑問。該公司的未來計劃包括繼續投資研發以擴大硬件產品和軟件解決方案，重點是優質的WiFi 6E、WiFi 6和智能網絡產品。
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