$ADMQ Q1 Revenues Increased 65% Year over Year
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Posted On: 06/05/2024 8:53:45 AM
$ADMQ Q1 Revenues Increased 65% Year over Year
Financial Highlights
Operating Results for the Three Months Ended March 31, 2024:
Revenue in Q1 2024 was $1,056,138, a 64.9% or $415,694 increase over Q1 2023.
Gross margin improved from 21% in Q1 2023 to 32% in Q1 2024 due to the integration of Innovative Impressions.
The operating loss improved by $95,150, from $154,313 in Q1 2023 to $59,163 in Q1 2024.
The net loss improved by $46,461, from $110,597 in Q1 2023 to $64,136 in Q1 2024.
At March 31, 2024, the Company had cash of $177,964, access to a line of credit for $3,000,000 and accounts receivable of $274,117.
Management Commentary
"The first quarter of 2024 is a testament to our strategic pivot into the government sector, as we build upon the successes of Fiscal 2023 and transform the Company to prepare for accelerated growth," said ADM Endeavors CEO Marc Johnson. "The first quarter of the year is historically our weakest, and we anticipate the strong sales momentum will continue throughout the year as we secure new contracts and expand existing ones. ADM is also actively pursuing accretive acquisitions to bolster sales, add key personnel and equipment, and broaden our customer base.
https://finance.yahoo.com/news/adm-endeavors-...26761.html
Financial Highlights
Operating Results for the Three Months Ended March 31, 2024:
Revenue in Q1 2024 was $1,056,138, a 64.9% or $415,694 increase over Q1 2023.
Gross margin improved from 21% in Q1 2023 to 32% in Q1 2024 due to the integration of Innovative Impressions.
The operating loss improved by $95,150, from $154,313 in Q1 2023 to $59,163 in Q1 2024.
The net loss improved by $46,461, from $110,597 in Q1 2023 to $64,136 in Q1 2024.
At March 31, 2024, the Company had cash of $177,964, access to a line of credit for $3,000,000 and accounts receivable of $274,117.
Management Commentary
"The first quarter of 2024 is a testament to our strategic pivot into the government sector, as we build upon the successes of Fiscal 2023 and transform the Company to prepare for accelerated growth," said ADM Endeavors CEO Marc Johnson. "The first quarter of the year is historically our weakest, and we anticipate the strong sales momentum will continue throughout the year as we secure new contracts and expand existing ones. ADM is also actively pursuing accretive acquisitions to bolster sales, add key personnel and equipment, and broaden our customer base.
https://finance.yahoo.com/news/adm-endeavors-...26761.html
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