Focus Universal reported Q3 2024 financial results with revenue of $74,215 and net income of $1.4 million, primarily driven by a $3.2 million gain from property sale. The company's gross profit improved to $31,685 compared to $27,468 in Q3 2023, benefiting from higher-margin LED product sales. Operating expenses increased to $1.8 million from $1.1 million year-over-year.The company strengthened its balance sheet by completing the sale of its warehouse property for $7.5 million in July 2024, providing additional working capital. Focus Universal also raised $2.4 million through a registered direct offering and private placement of common stock in September 2024, issuing a total of 8.05 million shares.Management continues to advance its IoT and smart technology initiatives, including the development of automated SEC financial reporting software planned for commercialization in Q4 2024 or Q1 2025. The company has expanded its patent portfolio to 9 issued U.S. patents and 18 pending applications, while discontinuing its AT Tech Systems operations in August 2024 to streamline operations.

Focus Universal reported Q3 2024 financial results with revenue of $74,215 and net income of $1.4 million, primarily driven by a $3.2 million gain from property sale. The company's gross profit improved to $31,685 compared to $27,468 in Q3 2023, benefiting from higher-margin LED product sales. Operating expenses increased to $1.8 million from $1.1 million year-over-year.The company strengthened its balance sheet by completing the sale of its warehouse property for $7.5 million in July 2024, providing additional working capital. Focus Universal also raised $2.4 million through a registered direct offering and private placement of common stock in September 2024, issuing a total of 8.05 million shares.Management continues to advance its IoT and smart technology initiatives, including the development of automated SEC financial reporting software planned for commercialization in Q4 2024 or Q1 2025. The company has expanded its patent portfolio to 9 issued U.S. patents and 18 pending applications, while discontinuing its AT Tech Systems operations in August 2024 to streamline operations.