Farmmi Inc. reported financial results for the six months ended March 31, 2024. Revenue decreased 39.8% to $36.4 million, primarily due to reduced agricultural product trading. Gross profit slightly decreased by 0.9% to $2.15 million.Net income declined to $0.6 million from $1.6 million in the prior year period. The decrease was mainly attributed to lower revenue and increased interest expenses, partially offset by a $1.0 million gain on disposal of subsidiaries.As of March 31, 2024, Farmmi had cash of $1.1 million and working capital of $148.1 million. Management believes current resources are sufficient to meet working capital needs for at least the next 12 months, though future realization of current assets will impact the company's ability to repay obligations.

Farmmi Inc. reported financial results for the six months ended March 31, 2024. Revenue decreased 39.8% to $36.4 million, primarily due to reduced agricultural product trading. Gross profit slightly decreased by 0.9% to $2.15 million.Net income declined to $0.6 million from $1.6 million in the prior year period. The decrease was mainly attributed to lower revenue and increased interest expenses, partially offset by a $1.0 million gain on disposal of subsidiaries.As of March 31, 2024, Farmmi had cash of $1.1 million and working capital of $148.1 million. Management believes current resources are sufficient to meet working capital needs for at least the next 12 months, though future realization of current assets will impact the company's ability to repay obligations.