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N2OFF | 10-Q: Q2 2024 Earnings Report

N2OFF | 10-Q: Q2 2024 Earnings Report

N2OFF | 10-Q:2024財年二季報
美股SEC公告 ·  2024/08/14 15:14

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N2OFF Inc. reported Q2 2024 financial results with revenues of $16,546, down 55% from $36,608 in Q2 2023, primarily due to decreased sales in Mexico. Despite lower revenues, gross profit increased 12% to $10,764, driven by cost reduction initiatives. Operating expenses totaled $877,972, with general and administrative expenses comprising the majority at $808,251.The company's cash position remained stable at $4.47 million as of June 30, 2024, supported by financing activities including a $1.5 million promissory note and proceeds from a standby equity purchase agreement. Research and development expenses decreased 31% to $11,690, reflecting strategic cost reductions and a shift toward commercialization efforts.Management noted significant operational challenges due to the ongoing Israel-Hamas conflict, which has caused delays in pilots and packaging activities as certain packing houses halted operations. The company's Israeli subsidiary Plantify has reduced operations at its Kibbutz Gonen facility due to regional hostilities. Looking ahead, N2OFF expects continued uncertainty in operations through Q1 2025 and is actively pursuing additional financing options.
N2OFF Inc. reported Q2 2024 financial results with revenues of $16,546, down 55% from $36,608 in Q2 2023, primarily due to decreased sales in Mexico. Despite lower revenues, gross profit increased 12% to $10,764, driven by cost reduction initiatives. Operating expenses totaled $877,972, with general and administrative expenses comprising the majority at $808,251.The company's cash position remained stable at $4.47 million as of June 30, 2024, supported by financing activities including a $1.5 million promissory note and proceeds from a standby equity purchase agreement. Research and development expenses decreased 31% to $11,690, reflecting strategic cost reductions and a shift toward commercialization efforts.Management noted significant operational challenges due to the ongoing Israel-Hamas conflict, which has caused delays in pilots and packaging activities as certain packing houses halted operations. The company's Israeli subsidiary Plantify has reduced operations at its Kibbutz Gonen facility due to regional hostilities. Looking ahead, N2OFF expects continued uncertainty in operations through Q1 2025 and is actively pursuing additional financing options.
N2OFF Inc. 發佈了2024年第二季度財務報告,收入爲16,546美元,比2023年第二季度的36,608美元下降了55%,主要是由於墨西哥的銷售下降。儘管收入下降,毛利潤增加了12%,達到了10,764美元,這得益於成本降低的舉措。營業費用總計877,972美元,其中一般和行政費用佔大部分,爲808,251美元。截至2024年6月30日,公司現金狀況保持穩定,爲447萬,由於包括150萬美元的本票和股權購買協議的收益在內的融資活動而得以支持。研發費用下降31%,降至11,690美元,反映出戰略性成本削減和向商業化努力的轉變。管理層指出,由於以色列-哈馬斯衝突持續,運營面臨重大挑戰,這導致了一些包裝工廠停止運營,需要推遲試點和包裝活動。公司的以色列子公司Plantify因地區敵對行爲而減少了其在Kibbutz Gonen設施的運營。展望未來,N2OFF預計到2025年第一季度運營仍將面臨持續的不確定性,並積極尋求額外的融資選擇。
N2OFF Inc. 發佈了2024年第二季度財務報告,收入爲16,546美元,比2023年第二季度的36,608美元下降了55%,主要是由於墨西哥的銷售下降。儘管收入下降,毛利潤增加了12%,達到了10,764美元,這得益於成本降低的舉措。營業費用總計877,972美元,其中一般和行政費用佔大部分,爲808,251美元。截至2024年6月30日,公司現金狀況保持穩定,爲447萬,由於包括150萬美元的本票和股權購買協議的收益在內的融資活動而得以支持。研發費用下降31%,降至11,690美元,反映出戰略性成本削減和向商業化努力的轉變。管理層指出,由於以色列-哈馬斯衝突持續,運營面臨重大挑戰,這導致了一些包裝工廠停止運營,需要推遲試點和包裝活動。公司的以色列子公司Plantify因地區敵對行爲而減少了其在Kibbutz Gonen設施的運營。展望未來,N2OFF預計到2025年第一季度運營仍將面臨持續的不確定性,並積極尋求額外的融資選擇。
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