The following is a summary of the Nisun International Enterprise Development Group Co., Ltd (NISN) Q2 2024 Earnings Call Transcript:
Financial Performance:
Total revenue for H1 2024 increased by 52% to $192.5 million.
Net income decreased slightly to $10.3 million from $11.4 million, with EPS at $2.61, down from $2.87.
Costs of revenue rose significantly by 64%, with gross profit narrowing to 9% from 15.6%.Operating expenses reduced by 31%, with significant cuts in selling expenses and G&A, while investment in R&D increased by 27%.
Business Progress:
Nisun International expanded its supply chain trading business by 114%, mainly in gold trading, and introduced higher-margin products.
The company has announced a $15 million share buyback program, reflecting confidence in future growth.
Leveraged AI and other technologies to enhance supply chain operational efficiency and customer connections.
Planning to expand into new geographic markets and diversify trading portfolio to sustain current growth..
Opportunities:
Continued technological advancements in AI-driven supply chains present opportunities for operational efficiency and market expansion.
Risks:
Decreased revenue from SME financing services and supply chain financing solutions highlights vulnerabilities in economic slowdowns.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
