The following is a summary of the 180 Degree Capital Corp. (TURN) Q1 2024 Earnings Call Transcript:
Financial Performance:
180 Degree Capital Corp reported a 3% increase in their NAV.
Cash and public securities rose by 5.4% in the quarter.
Significant value increases included stocks for Potbelly, Synchronoss, Quantum and D-Wave, despite losses in Lantronix and Arena Group.
From the acquisition of TARA, the firm received a $1.3 million payment.
Business Progress:
Potbelly and Synchronoss showcased their strong results, with Synchronoss selling its digital assets to become fully cloud-based.
Quantum introduced new products featuring AI technology.
D-Wave announced new quantum computing resources and partnerships.
Lantronix secured an additional order from Gridspertise and is undergoing a review by their new CEO.
Synchronoss has saved an estimated $15 million annually after its post divestiture cost removals.
Ascent resolved issues with its Bristol tubular plant and secured a large order in its chemicals business.
More details: 180 Degree Capital Corp IR
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