Nukkleus Inc., a financial technology company, reported a significant year-on-year decrease in revenue and an increase in net loss for the quarter ended March 31, 2024. Revenue from general support services to Triton Capital Markets Ltd. (TCM) dropped to $0 for the quarter, down from $4.8 million in the same period last year, due to the termination of the General Services Agreement (GSA) effective January 1, 2024, following non-payment by TCM. Revenue from financial services also declined by 68.9% to $259,757. The net loss widened to $2.43 million, or $0.17 per share, compared to a loss of $805,649, or $0.08 per share, in the previous year. The company's working capital deficit increased to approximately $10.98 million, and it acknowledged substantial doubt about its ability to continue as a going concern without additional capital. Nukkleus plans to raise funds through equity or debt financings to support operations and pursue growth. The company also reported a comprehensive loss of $2.4 million for the quarter, including a non-cash foreign currency translation gain of $26,582.

Nukkleus Inc., a financial technology company, reported a significant year-on-year decrease in revenue and an increase in net loss for the quarter ended March 31, 2024. Revenue from general support services to Triton Capital Markets Ltd. (TCM) dropped to $0 for the quarter, down from $4.8 million in the same period last year, due to the termination of the General Services Agreement (GSA) effective January 1, 2024, following non-payment by TCM. Revenue from financial services also declined by 68.9% to $259,757. The net loss widened to $2.43 million, or $0.17 per share, compared to a loss of $805,649, or $0.08 per share, in the previous year. The company's working capital deficit increased to approximately $10.98 million, and it acknowledged substantial doubt about its ability to continue as a going concern without additional capital. Nukkleus plans to raise funds through equity or debt financings to support operations and pursue growth. The company also reported a comprehensive loss of $2.4 million for the quarter, including a non-cash foreign currency translation gain of $26,582.