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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 830,000 | 86.5% |
| Gross Profit | -88,000 | 67.1% |
| Cost of Revenue | 920,000 | 29% |
| Operating expense | 870,000 | 22.8% |
| Net Income | -760,000 | 20.2% |
| EBITDA | -2.5M | 160.8% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 19M | 2.3% |
| Total Liabilities | 5.5M | 12.7% |
| Total Equity | 16M | 5.4% |
| Shares Outstanding | 3.5M | 0% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 130,000 | 90.7% |
| Cash from investing | -500 | 100.5% |
EPS
Financial Highlights for Singularity Future Technology in Q2 '24
Singularity Future Technology reported a revenue of 830,000, which is a 86.5% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at -88,000, marking a 67.1% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 920,000, a 29% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 870,000, showing a -22.8% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -760,000, showing a 20.2% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -2.5M, showing a -160.8% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Singularity Future Technology with growth in revenue, gross profit, and net income. A decline in EBITDA signals potential operational challenges or increased costs.
