Summary by Futu AI
Micromobility.com, Inc. reported its financial results for the quarter ended September 30, 2024. The company experienced a decrease in total net revenue from continuing operations by 37% year-over-year to $775 thousand, primarily due to a strategic reduction in European mobility operations and early termination of media agreements. Cost of revenue from continuing operations decreased by 63% to $484 thousand, reflecting the company's efforts to reduce operating cash burn. General and administrative expenses from continuing operations also saw a significant decrease of 82% to $867 thousand due to cost-cutting measures. The company reported a net loss from continuing operations of $1.658 million, an improvement from a net loss of $7.456 million in the same period last year. Discontinued operations, mainly the U.S. mobility business, resulted...Show More