Summary by Moomoo AI
Connexa Sports Technologies Inc. (Connexa), a Delaware-based company, reported its financial performance for the quarter ended January 31, 2024. The company's net sales for the quarter were $2,069,559, a significant increase from the $1,605,783 reported in the same quarter of the previous year. However, the cost of sales also rose to $776,844 from $535,957 year-on-year. Connexa's gross profit for the quarter was $1,292,715, up from $1,069,826 in the prior year. Operating expenses, including selling and marketing, general and administrative expenses, totaled $3,485,837, resulting in an operating loss of $2,193,122 for the quarter. The company also reported a net loss from continuing operations before provision for income taxes of $3,772,628 for the quarter. Connexa's balance sheet showed a significant increase in cash and cash equivalents, from...Show More