Spetz Announces Results for the Three and Nine Months Ended September 30, 2024
Spetz Inc (CSE:SPTZ, OTC:DBKSF) reported financial results for Q3 2024, showing significant cost reductions and improved operational efficiency. Total expenses decreased by 50.9% to $1,889K for the nine months ended September 30, 2024, compared to $3,848K in the same period of 2023. The company's net loss decreased by 57.3% to $1,079K, while adjusted EBITDA loss reduced by 55.6% to $492K compared to $1,108K in the previous year. CEO Yossi Nevo highlighted the company's focus on cost management and revenue expansion to achieve positive cash flow.
Spetz Inc (CSE:SPTZ, OTC:DBKSF) ha riportato i risultati finanziari per il terzo trimestre del 2024, evidenziando significative riduzioni dei costi e un miglioramento dell'efficienza operativa. Le spese totali sono diminuite del 50,9% a $1.889K per i nove mesi conclusi il 30 settembre 2024, rispetto ai $3.848K nello stesso periodo del 2023. La perdita netta dell'azienda è scesa del 57,3% a $1.079K, mentre la perdita dell'EBITDA rettificato è stata ridotta del 55,6% a $492K rispetto ai $1.108K dell'anno precedente. Il CEO Yossi Nevo ha sottolineato l'attenzione dell'azienda sulla gestione dei costi e sull'espansione dei ricavi per ottenere un flusso di cassa positivo.
Spetz Inc (CSE:SPTZ, OTC:DBKSF) reportó resultados financieros para el tercer trimestre de 2024, mostrando reducciones significativas de costos y una mejora en la eficiencia operativa. Los gastos totales disminuyeron un 50,9% a $1,889K durante los nueve meses que terminaron el 30 de septiembre de 2024, en comparación con $3,848K en el mismo período de 2023. La pérdida neta de la compañía se redujo en un 57,3% a $1,079K, mientras que la pérdida ajustada de EBITDA se redujo en un 55,6% a $492K en comparación con $1,108K del año anterior. El CEO Yossi Nevo destacó el enfoque de la empresa en la gestión de costos y la expansión de ingresos para lograr un flujo de caja positivo.
Spetz Inc (CSE:SPTZ, OTC:DBKSF)는 2024년 3분기 재무 결과를 보고하며, 상당한 비용 절감과 운영 효율성 개선을 보여주었습니다. 총 비용은 2023년 같은 기간의 $3,848K와 비교하여 2024년 9월 30일로 끝나는 아홉 달 동안 $1,889K로 50.9% 감소했습니다. 회사의 순손실은 57.3% 줄어들어 $1,079K에 이르렀으며, 조정 후 EBITDA 손실은 지난 해의 $1,108K와 비교하여 $492K로 55.6% 감소했습니다. CEO Yossi Nevo는 긍정적인 현금 흐름을 달성하기 위한 비용 관리와 수익 확대에 대한 회사의 집중을 강조했습니다.
Spetz Inc (CSE:SPTZ, OTC:DBKSF) a publié ses résultats financiers pour le troisième trimestre de 2024, montrant des réductions de coûts significatives et une amélioration de l'efficacité opérationnelle. Les dépenses totales ont diminué de 50,9 % pour atteindre 1 889 K $ pour les neuf mois se terminant le 30 septembre 2024, contre 3 848 K $ pour la même période en 2023. La perte nette de l'entreprise a diminué de 57,3 % pour s'établir à 1 079 K $, tandis que la perte d'EBITDA ajusté a été réduite de 55,6 % pour atteindre 492 K $ par rapport à 1 108 K $ l'année précédente. Le PDG Yossi Nevo a souligné l'importance pour l'entreprise de gérer les coûts et d'expansion des revenus afin d'atteindre un flux de trésorerie positif.
Spetz Inc (CSE:SPTZ, OTC:DBKSF) gab die Finanzberichte für das dritte Quartal 2024 bekannt und wies auf erhebliche Kostensenkungen und eine verbesserte Betriebseffizienz hin. Die Gesamtausgaben sanken um 50,9% auf $1.889K für die neun Monate bis zum 30. September 2024 im Vergleich zu $3.848K im gleichen Zeitraum des Jahres 2023. Der Nettoverlust des Unternehmens verringerte sich um 57,3% auf $1.079K, während der bereinigte EBITDA-Verlust um 55,6% auf $492K im Vergleich zu $1.108K im Vorjahr reduziert wurde. CEO Yossi Nevo hob den Fokus des Unternehmens auf Kostenmanagement und Umsatzwachstum hervor, um einen positiven Cashflow zu erzielen.
- Total expenses reduced by 50.9% to $1,889K
- Net loss decreased by 57.3% to $1,079K
- Adjusted EBITDA loss reduced by 55.6% to $492K
- Company continues to operate at a loss ($1,079K for nine months)
- Negative adjusted EBITDA of $492K
TORONTO, ON / ACCESSWIRE / November 29, 2024 / SPETZ INC. (the "Company" or "Spetz") (CSE:SPTZ)(OTC PINK:DBKSF) today reported its financial results for the three and nine months ended September 30, 2024. All figures are in US Dollars.
Highlights:
Total expenses decreased by
50.9% to US$1,889 K for the nine months ended September 30, 2024, compared to US$3,848 K for the Nine months ended September 30, 2023Net Loss for the period decreased by 57.
3% to US$1,079 K for the nine months ended September 30, 2024, compared to US$2,527 K for the nine months ended September 30, 2023.Adjusted EBITDA loss, as defined in the management discussion and analysis, decreased by
55.6% to US$492 K for the nine months ended September 30, 2024, compared to US$1,108 K for the nine months ended September 30, 2023.
"Our Q3 2024 financial results underscore our steadfast dedication to enhancing operational efficiency and building a robust infrastructure that allows us to drive meaningful improvements," said Yossi Nevo, CEO of Spetz Inc. "We have successfully reduced our expenses, evidenced by an impressive
For full financial information, notes, and management commentary, please refer to the Company's Management's Discussion and Analysis (MD&A) and the Consolidated Financial Statements as of September 30, 2024, posted on the Company's website and available on SEDAR. All financial information is provided in U.S. dollars unless otherwise indicated. In addition, all financial information provided herein is unaudited unless otherwise stated.
About Spetz Inc.
Spetz Inc. is a multinational technology company that operates Spetz, a global online, AI-powered marketplace platform that dynamically connects consumers to nearby top-rated service providers in around 30 seconds. Spetz is available in the USA, United Kingdom, Australia, and Israel. The Spetz vision is to reinvent how people around the world connect to services in their moment of need. Connecting them immediately with the top-matched service provider for any need, anytime, anywhere.
Spetz Website: www.spetz.app
Spetz Investor information: https://investor.spetz.app/
Company Contacts:
Investor Relations
Email: Investors@spetz.app
Phone: 647-956-6033
NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATION SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Note Regarding Forward-looking Statements
Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "plans" "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions. In this press release, forward-looking statements relate, among other things, to: the ability of Spetz to achieve cash-flow positivity and growth on a go-forward basis.
Forward-looking statements are based on certain assumptions. While the Company considers these assumptions to be reasonable based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. In this press release, such assumptions include, but are note limited to: the ability of Spetz to maintain its current growth trajectory.
Forward-looking statements also necessarily involve known and unknown risks, including without limitation: risks associated with general economic conditions; the inability of Spetz to achieve growth; and increased competition in the mobile application and home-services market.
Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward-looking statements contained in this news release are made as to the date hereof and are expressly qualified by this cautionary statement. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
SOURCE: Spetz Inc.
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