Summary by Moomoo AI
Cuentas, Inc., a financial technology company, has released its consolidated financial statements for the fiscal year ending December 31, 2023. The company reported revenues from related parties at $2,250,000, a slight increase from the previous year's $2,052,000. Other revenues, however, decreased significantly from $942,000 in 2022 to $96,000 in 2023. The total revenues for 2023 were $2,346,000, with a gross profit of $486,000. The operating loss for the year was $6,409,000, an improvement from the $14,355,000 loss in 2022. The net loss before equity losses was $2,109,000, with a total net loss of $2,196,000, which is substantially lower than the $14,531,000 net loss reported in the previous year. Loss per share was reduced to $0.95 from $11.81 in 2022. The company's balance sheet shows an accumulated deficit of approximately $55 million and a negative working capital of approximately $3 million...Show More