N2OFF, Inc. reported Q3 2024 financial results, with revenue decreasing 56% year-over-year to $9,104. The company posted a net loss of $2.31 million, narrowing 24% from $3.04 million in Q3 2023. Gross loss was $67,657 compared to $0 in the prior year period, mainly due to a one-time inventory write-off in South Africa.Operating expenses decreased significantly, with R&D expenses down 93% to $122,410 as a result of cost reduction measures. General and administrative expenses increased 17% to $1.29 million due to higher professional services and share-based compensation costs. The company ended the quarter with $2.75 million in cash and cash equivalents.N2OFF entered into a facility agreement for up to €6 million in financing and issued a warrant to purchase 1.85 million shares at $1.00 per share. The company also received a Nasdaq non-compliance notice for failing to maintain a minimum $1.00 bid price and has until January 6, 2025 to regain compliance. Management is focused on commercializing its eco-friendly crop protection solutions and converting pilots into paying customers.

N2OFF, Inc. reported Q3 2024 financial results, with revenue decreasing 56% year-over-year to $9,104. The company posted a net loss of $2.31 million, narrowing 24% from $3.04 million in Q3 2023. Gross loss was $67,657 compared to $0 in the prior year period, mainly due to a one-time inventory write-off in South Africa.Operating expenses decreased significantly, with R&D expenses down 93% to $122,410 as a result of cost reduction measures. General and administrative expenses increased 17% to $1.29 million due to higher professional services and share-based compensation costs. The company ended the quarter with $2.75 million in cash and cash equivalents.N2OFF entered into a facility agreement for up to €6 million in financing and issued a warrant to purchase 1.85 million shares at $1.00 per share. The company also received a Nasdaq non-compliance notice for failing to maintain a minimum $1.00 bid price and has until January 6, 2025 to regain compliance. Management is focused on commercializing its eco-friendly crop protection solutions and converting pilots into paying customers.