Nukkleus Inc. reported financial results for Q3 2024 with revenue declining to $175,214 from $5.2M in Q3 2023, primarily due to the termination of its General Service Agreement with TCM effective January 2024. The company recorded a net loss of $12.9M for the nine months ended June 30, 2024, compared to $3.1M loss in the same period last year, largely impacted by a $6.1M bad debt expense and increased professional fees related to business combination.The company's financial services segment showed improved gross margins at 71.6% in Q3 2024 compared to -68.7% in Q3 2023, though trading volumes decreased to $31.6M from $67.2M. Operating expenses increased significantly to $13.5M for the nine-month period, driven by advisory service fees and stock-based compensation of $2.8M related to the December 2023 business combination.Working capital deficit increased to $11.4M as of June 30, 2024, from $6.2M at September 30, 2023. The company raised additional capital through convertible debt and warrants, receiving $2.3M from financing activities in the nine months ended June 30, 2024. Management indicates substantial doubt about the company's ability to continue as a going concern without additional funding.

Nukkleus Inc. reported financial results for Q3 2024 with revenue declining to $175,214 from $5.2M in Q3 2023, primarily due to the termination of its General Service Agreement with TCM effective January 2024. The company recorded a net loss of $12.9M for the nine months ended June 30, 2024, compared to $3.1M loss in the same period last year, largely impacted by a $6.1M bad debt expense and increased professional fees related to business combination.The company's financial services segment showed improved gross margins at 71.6% in Q3 2024 compared to -68.7% in Q3 2023, though trading volumes decreased to $31.6M from $67.2M. Operating expenses increased significantly to $13.5M for the nine-month period, driven by advisory service fees and stock-based compensation of $2.8M related to the December 2023 business combination.Working capital deficit increased to $11.4M as of June 30, 2024, from $6.2M at September 30, 2023. The company raised additional capital through convertible debt and warrants, receiving $2.3M from financing activities in the nine months ended June 30, 2024. Management indicates substantial doubt about the company's ability to continue as a going concern without additional funding.