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Earnings Call Summary | Crown Electrokinetics(CRKN.US) Q1 2024 Earnings Conference

moomoo AI ·  May 18 10:44  · Conference Call

The following is a summary of the Crown ElectroKinetics Corp. (CRKN) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Crown reported a net loss of $4.6 million for Q1 2024, which included $0.9 million of non-cash other expense.

  • The company recorded $0.7 million of revenue in its fiber division for the quarter and booked $1.2 million of deferred revenue.

  • Total operating expenses for the quarter were $4.7 million and cost of revenue was $1.6 million.

  • As of March 31, 2024, cash and cash equivalents were $0.3 million, and the company has $42 million available on its ELOC.

Business Progress:

  • Crown's film team solved the 12-inch mastering challenge for its Gen 1 Alpha Smart Window Insert.

  • Crown appointed Sheldon Davis, formerly a consultant, as President of its ElectroKinetics film division.

  • The company has secured fiber optic projects in Idaho, Nevada, California, and Mexico, which are expected to generate significant revenue.

  • The fiber optic division is set to construct slant wells for a desalination plant in Mexico with an anticipated revenue of $3.5 million.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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