SinglePoint reported Q3 2024 financial results, with revenue decreasing to $5.5 million from $6.9 million in Q3 2023. The decline was primarily due to lower revenues at Boston Solar and reduced air purification system sales. Despite lower revenue, gross profit increased to $2.5 million from $2.0 million, driven by the completion of higher-margin projects. However, net loss attributable to SinglePoint stockholders widened to $4.5 million, compared to $1.3 million in Q3 2023.For the nine months ended September 30, 2024, revenue fell to $15.1 million from $20.7 million in the same period of 2023. The company's net loss for this period significantly increased to $17.3 million, up from $0.7 million in the previous year. This was primarily due to increases in other expenses and comparative increases in SG&A expenses, coupled with lower margins.As of September...Show More

SinglePoint reported Q3 2024 financial results, with revenue decreasing to $5.5 million from $6.9 million in Q3 2023. The decline was primarily due to lower revenues at Boston Solar and reduced air purification system sales. Despite lower revenue, gross profit increased to $2.5 million from $2.0 million, driven by the completion of higher-margin projects. However, net loss attributable to SinglePoint stockholders widened to $4.5 million, compared to $1.3 million in Q3 2023.For the nine months ended September 30, 2024, revenue fell to $15.1 million from $20.7 million in the same period of 2023. The company's net loss for this period significantly increased to $17.3 million, up from $0.7 million in the previous year. This was primarily due to increases in other expenses and comparative increases in SG&A expenses, coupled with lower margins.As of September 30, 2024, SinglePoint had cash and cash equivalents of approximately $0.06 million, with a projected cash need of $4.0 million for the next 12 months. The company plans to fund operations through available cash, cash flow from operations, and potential financing activities. However, the substantial net losses and need for additional funding raise doubts about the company's ability to continue as a going concern.