GALAXY NEXT GENERATION - GAXY STOCK NEWS

Galaxy Next Generation, Inc. will host a shareholder update conference call on August 10, 2023, to discuss business developments and strategy.

Galaxy Next Generation, Inc. (OTCQB:GAXY) has received two additional purchase orders worth at least $100,000 under its contract with Licking Heights Local School District in Ohio. The repeat orders from existing customers demonstrate the value add of Galaxy's products and their excellent customer service.

Galaxy Next Generation, Inc. has been awarded a new contract worth at least $200,000 from a Northeast Ohio school district. The contract is for the supply of G2 Bell, Paging, Intercom, and Clock (BPIC) hardware and G2 Communicator software to five schools. The rollout and implementation are expected to take place over the next several weeks.

Galaxy Next Generation, Inc. issues shareholder update letter following Q3 FY 2023 earnings results. Revenues increased from ~$430K to ~$657K quarter over quarter. G&A expenses decreased from ~$1.5M to ~$670K. Net loss decreased to less than $1.5M compared to ~$3M in Q2. Cash balance increased by ~87%. Recently secured additional financing of $1M with option for additional $500K. Partnerships with AV dealers driving pipeline and sales growth. Shift towards higher margin products. Transition proving to be successful.

Galaxy Next Generation has signed a partnership agreement with AVI Systems, the largest global audiovisual services provider. AVI Systems will assist in marketing and installing Galaxy's G2 product line globally.

Galaxy Next Generation (OTCQB: GAXY) announced a revenue of approximately $500,000 from the Lamar County School System following the successful delivery and installation of G2 Interactive Panels. This order was part of a purchase initiated in September 2022. CEO Gary LeCroy emphasized the company's fruitful partnership with the school system, which has continued since 2019, reflecting strong customer retention and growth potential. Galaxy specializes in interactive learning technology solutions, with about 90% of sales in the K-12 education sector, supported by a network of 22+ resellers across the U.S.

Galaxy Next Generation, Inc. (OTCQB:GAXY) announced new orders totaling approximately $100,000 from two new partners in Louisiana and Virginia. CEO Gary LeCroy noted that these successful installations mark progress in resolving supply chain issues and reflect a strategic shift towards partner-focused sales. The orders, received and shipped in March, have contributed to recognized revenue. Galaxy specializes in interactive learning technology solutions, with a strong focus on the K-12 education market, which accounts for nearly 90% of its sales.

Galaxy Next Generation, Inc. (OTCQB:GAXY) announced the launch of G2 Activator, a mobile application designed to enhance school security communication. This app integrates with existing G2 Secure and Communicator offerings, enabling users to send alerts, make intercom calls, and chat with first responders from their mobile devices. G2 Activator aligns with state security laws, including Alyssa's Law, providing flexibility during emergencies. Key features include G2 Visual Alerts and Active Chat functionalities, improving real-time communication in crisis situations. The company primarily serves the K-12 education sector, accounting for about 90% of its sales.

Galaxy Next Generation (OTCQB:GAXY) reported its Q2 FY 2023 financial results, showing a revenue increase to $1.06 million from $1.04 million year-over-year. The company has enhanced its reseller network, notably onboarding Bluum, which recorded a 500% growth last year. Accounts receivable rose to approximately $900,000, indicating increased interest in G2 products. Gross profit increased by $40,000. The company reduced G&A expenses by $100,000 and strengthened its balance sheet, raising assets by $200,000. The management anticipates significant growth as supply chain issues improve and plans to report Q3 results in mid-May.