Nukkleus Inc. reported Q2 2024 financial results with revenue declining 95% to $0.26 million from $5.63 million in Q2 2023, primarily due to the termination of its General Services Agreement with TCM effective January 2024. The net loss widened to $2.43 million compared to $0.81 million loss in the prior year quarter, with earnings per share of -$0.17.Professional fees increased significantly to $2.04 million from $0.57 million last year, driven by $0.75 million in stock-based advisory fees and increased legal expenses. The company's financial services segment revenue decreased 69% to $0.26 million, though gross margin improved to 75.7% from 8.7% due to reduced amortization costs.The company faces substantial going concern doubts with a working capital deficit of $10.98 million as of March 31, 2024. Management is seeking additional capital through equity and debt financing, having secured new convertible notes totaling $0.83 million in June and August 2024. The company's ability to continue operations depends on successfully raising more capital and generating sufficient revenues.

Nukkleus Inc. reported Q2 2024 financial results with revenue declining 95% to $0.26 million from $5.63 million in Q2 2023, primarily due to the termination of its General Services Agreement with TCM effective January 2024. The net loss widened to $2.43 million compared to $0.81 million loss in the prior year quarter, with earnings per share of -$0.17.Professional fees increased significantly to $2.04 million from $0.57 million last year, driven by $0.75 million in stock-based advisory fees and increased legal expenses. The company's financial services segment revenue decreased 69% to $0.26 million, though gross margin improved to 75.7% from 8.7% due to reduced amortization costs.The company faces substantial going concern doubts with a working capital deficit of $10.98 million as of March 31, 2024. Management is seeking additional capital through equity and debt financing, having secured new convertible notes totaling $0.83 million in June and August 2024. The company's ability to continue operations depends on successfully raising more capital and generating sufficient revenues.