ARHT Media Reports Strong Q2 2024 Financial Results
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ARHT Media Announces Q2 2024 Operating Results
Revenue of $1.4M
Cash-based Operating Expenses reduced by 50% YoY
EBITDA loss reduced by 54% YoY
ARHT Media Inc. (“ARHT” or “the Company”) (TSX-V: ART), (OTCQB: ARHTF), the global leader in the development, production, and distribution of high-quality, low latency hologram and digital content, announced its financial results for the second quarter ended June 30, 2024.
Q2 2024 Financial Update
In the second quarter of 2024, ARHT Media reported revenue of $1.4 million. The Company achieved a remarkable 50% reduction in cash-based operating expenses, lowering them to $1.5 million compared to $2.9 million from the previous year. Additionally, ARHT Media noted a significant improvement in its EBITDA loss, which was reduced to ($0.7 million) from ($1.5 million) in Q2 2023, reflecting a positive reduction of 54% year-over-year.
Q2 2024 Business Highlights
During Q2 2024, ARHT Media made strides with key innovations and partnerships. The premier of the ShowWindowMax multi-panel display took place, showcasing the art of renowned British artist Allen Jones in a prominent location. Furthermore, ARHT Media achieved a world-first milestone by beaming four surgeons from three different countries into a fourth country for a major medical conference, demonstrating the capabilities of its holographic technology.
CEO Statement
“We continue to focus on a reduction in operating costs while simultaneously working with enterprise organizations through multiple proof of concepts that have the potential for large-scale adoption,” stated ARHT CEO Larry O’Reilly. “Combining AI life-like avatars with our holographic display continues to grow in interest from multiple potential clients.”
About ARHT Media
ARHT Media is a pioneering company recognized as a global leader in live hologram technology. Through its patented end-to-end technology, it enables executives, medical experts, educators, entertainers, and thought leaders to present in real-time, transcending geographical boundaries.
Founded in 2014, ARHT Media is publicly traded on the TSX Venture Exchange under the symbol “ART.” The Company operates across North America, Europe, and Asia, with dedicated studios and a robust network of partner studios promoting its innovative technology.
Contact Information
For further inquiries, connect with ARHT Media through its various social media platforms:
LinkedIn: https://www.linkedin.com/company/arht-tech
Instagram: https://www.instagram.com/arht.tech
Facebook: https://www.facebook.com/arht.tech
X (formerly Twitter): https://twitter.com/arht_tech
YouTube: https://www.youtube.com/@arht-tech
For more information, please visit www.arht.tech/about/investors or www.arht.tech.
You can also reach out via email at info@arht.tech.
Frequently Asked Questions
What were ARHT Media's revenues for Q2 2024?
ARHT Media reported revenues of $1.4 million for Q2 2024.
How much did ARHT Media reduce its operating expenses?
The Company reduced its cash-based operating expenses by 50% year-on-year, bringing them down to $1.5 million.
What is the significance of the ShowWindowMax display?
The ShowWindowMax multi-panel display premiered with acclaimed British artist Allen Jones, showcasing ARHT Media's innovative technology.
What innovative achievement did ARHT Media accomplish in Q2 2024?
ARHT Media beamed four surgeons from three different countries into a fourth country for a significant medical conference, marking a world's first in the field.
Where can I learn more about ARHT Media?
More information about the Company can be found on their official website at www.arht.tech.
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