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Zapata AI Announces Second Quarter 2024 Financial Results and Provides Business Update

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Zapata AI (ZPTA) reported Q2 2024 financial results and provided a business update. Key highlights include:

- Revenue increased to $2.00 million from $1.43 million in Q2 2023
- Gross margin improved to 36.0% from 19.7% in Q2 2023
- Operating loss widened to $7.37 million from $4.14 million in Q2 2023
- Cash and cash equivalents stood at $7.16 million as of June 30, 2024

The company expanded partnerships with D-Wave Quantum, KPMG, and Tech Mahindra, and announced a collaboration with the U.S. Department of Defense. Zapata AI's qualified pipeline exceeds $30 million, spanning several focus industries. The company is optimistic about accelerating business growth in the second half of 2024 and beyond.

Zapata AI (ZPTA) ha pubblicato i risultati finanziari del secondo trimestre 2024 e fornito un aggiornamento sull'andamento aziendale. Punti salienti includono:

- I ricavi sono aumentati a $2,00 milioni da $1,43 milioni nel Q2 2023
- Il margine lordo è migliorato al 36,0% rispetto al 19,7% nel Q2 2023
- La perdita operativa è aumentata a $7,37 milioni da $4,14 milioni nel Q2 2023
- La liquidità e le equivalenti ammontavano a $7,16 milioni al 30 giugno 2024

L'azienda ha ampliato le partnership con D-Wave Quantum, KPMG e Tech Mahindra, e ha annunciato una collaborazione con il Dipartimento della Difesa degli Stati Uniti. Il portafoglio qualificato di Zapata AI supera i $30 milioni, coprendo diversi settori di interesse. L'azienda è ottimista riguardo all'accelerazione della crescita aziendale nella seconda metà del 2024 e oltre.

Zapata AI (ZPTA) informó los resultados financieros del segundo trimestre de 2024 y proporcionó una actualización empresarial. Puntos destacados incluyen:

- Los ingresos aumentaron a $2.00 millones desde $1.43 millones en el Q2 2023
- El margen bruto mejoró al 36.0% desde el 19.7% en el Q2 2023
- La pérdida operativa se amplió a $7.37 millones desde $4.14 millones en el Q2 2023
- El efectivo y equivalentes de efectivo alcanzaron $7.16 millones al 30 de junio de 2024

La empresa amplió asociaciones con D-Wave Quantum, KPMG y Tech Mahindra, y anunció una colaboración con el Departamento de Defensa de EE. UU. El portafolio cualificado de Zapata AI supera los $30 millones, abarcando varias industrias de enfoque. La empresa es optimista sobre la aceleración del crecimiento empresarial en la segunda mitad de 2024 y más allá.

자파타 AI(ZPTA)가 2024년 2분기 재무 결과를 발표하고 사업 업데이트를 제공했습니다. 주요 하이라이트는 다음과 같습니다:

- 매출이 2023년 2분기 143만 달러에서 200만 달러로 증가했습니다.
- 총 마진은 2023년 2분기 19.7%에서 36.0%로 개선되었습니다.
- 운영 손실은 2023년 2분기 414만 달러에서 737만 달러로 확대되었습니다.
- 2024년 6월 30일 기준 현금 및 현금성 자산은 716만 달러입니다.

회사는 D-Wave Quantum, KPMG 및 Tech Mahindra와의 파트너십을 확장했으며, 미국 국방부와 협력을 발표했습니다. 자파타 AI의 자격을 갖춘 파이프라인은 3천만 달러를 초과하며 여러 주요 산업을 아우릅니다. 회사는 2024년 하반기 및 그 이후의 비즈니스 성장 가속화에 대해 낙관적입니다.

Zapata AI (ZPTA) a présenté les résultats financiers du deuxième trimestre 2024 et a fourni une mise à jour sur son activité. Les faits marquants incluent :

- Le chiffre d'affaires a augmenté à 2,00 millions de dollars contre 1,43 million de dollars au Q2 2023
- La marge brute s'est améliorée à 36,0 % contre 19,7 % au Q2 2023
- La perte d'exploitation s'est aggravée à 7,37 millions de dollars contre 4,14 millions de dollars au Q2 2023
- Les liquidités et équivalents de liquidités s'élevaient à 7,16 millions de dollars au 30 juin 2024

L'entreprise a élargi ses partenariats avec D-Wave Quantum, KPMG et Tech Mahindra, et a annoncé une collaboration avec le Département de la Défense des États-Unis. Le pipeline qualifié de Zapata AI dépasse les 30 millions de dollars, englobant plusieurs secteurs d'activité. L'entreprise est optimiste quant à l'accélération de la croissance commerciale dans la seconde moitié de 2024 et au-delà.

Zapata AI (ZPTA) hat die finanziellen Ergebnisse für das zweite Quartal 2024 veröffentlicht und ein Update zur Unternehmenslage bereitgestellt. Wichtige Highlights sind:

- Der Umsatz erhöhte sich von 1,43 Millionen Dollar im Q2 2023 auf 2,00 Millionen Dollar
- Die Bruttomarge verbesserte sich von 19,7 % im Q2 2023 auf 36,0 %
- Der operative Verlust weitete sich von 4,14 Millionen Dollar im Q2 2023 auf 7,37 Millionen Dollar aus
- Die liquiden Mittel und Zahlungsmitteläquivalente beliefen sich zum 30. Juni 2024 auf 7,16 Millionen Dollar

Das Unternehmen hat Partnerschaften mit D-Wave Quantum, KPMG und Tech Mahindra ausgebaut und eine Zusammenarbeit mit dem US-Verteidigungsministerium angekündigt. Die qualifizierte Pipeline von Zapata AI übersteigt 30 Millionen Dollar und deckt mehrere Schwerpunktbranchen ab. Das Unternehmen ist optimistisch hinsichtlich der Beschleunigung des Unternehmenswachstums in der zweiten Hälfte von 2024 und darüber hinaus.

Positive
  • Revenue increased by 39.9% year-over-year to $2.00 million in Q2 2024
  • Gross margin improved significantly from 19.7% to 36.0% year-over-year
  • Expanded partnership with D-Wave Quantum Inc. for integrated quantum and generative AI solutions
  • Successful collaboration with KPMG on a project for a leading global insurance firm
  • Strategic collaboration with Tech Mahindra to improve network operations for global telecom customers
  • Qualified pipeline of more than $30 million across several focus industries
  • Raised $5.30 million through issuance of common stock from the ELOC
Negative
  • Operating loss increased from $4.14 million to $7.37 million year-over-year
  • Net loss widened significantly from $4.72 million to $15.58 million year-over-year
  • Net cash used by operating activities increased from $3.61 million to $6.11 million year-over-year
  • Non-cash charge of $8.23 million related to fair value change of forward purchase agreement derivative liability

Insights

Zapata AI's Q2 2024 results show mixed signals. Revenue increased by 39.9% year-over-year to $2.00 million, indicating growing market traction. The gross margin improved significantly from 19.7% to 36.0%, suggesting better operational efficiency.

However, the operating loss widened to $7.37 million, up from $4.14 million in Q2 2023. This was primarily due to increased G&A expenses related to the Nasdaq listing and ELOC filing. The net loss of $15.58 million was heavily impacted by a non-cash charge of $8.23 million related to a derivative liability.

With $7.16 million in cash and a $30 million qualified pipeline, Zapata AI's short-term liquidity seems adequate. However, the company needs to accelerate revenue growth and control expenses to achieve profitability.

Zapata AI's focus on quantum-inspired, tailored AI models addresses critical challenges in the AI industry. Their expanded partnership with D-Wave for integrated quantum and generative AI solutions demonstrates the potential of their technology in enhancing cloud services.

The company's work with KPMG to improve insurance risk modeling, reducing processing time by over 1,000 times, showcases the practical applications and efficiency gains of their AI solutions. Their involvement in the DARPA Quantum Benchmarking program and collaboration with USSOCOM further validates the relevance of their technology in defense applications.

The strategic partnership with Tech Mahindra in the telecom sector opens up significant opportunities for network optimization and customer service improvements. These developments indicate Zapata AI's strong position in the emerging quantum-AI intersection, with potential for substantial growth as these technologies mature.

Zapata AI's Q2 2024 results reveal a company at a critical juncture. The significant growth in qualified pipeline to over $30 million suggests strong market interest in their quantum-inspired AI solutions. This aligns with increasing industry focus on AI efficiency and specialized applications.

The company's strategic partnerships across diverse sectors - quantum computing (D-Wave), defense (DARPA, USSOCOM), insurance (KPMG) and telecom (Tech Mahindra) - indicate a broad market applicability of their technology. This diversification could be a strong driver for future growth.

However, the widening operating loss and cash burn rate present challenges. The company's ability to convert pipeline into revenue and achieve operational efficiency will be crucial. The additional $10 million purchase agreement provides some financial runway, but accelerating revenue growth remains paramount for long-term sustainability.

BOSTON, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Zapata Computing Holdings Inc. (“Zapata AI” or “the Company”) (Nasdaq: ZPTA), a leading provider of industrial-grade software for enterprise AI, today announced its financial results for the second quarter of 2024 and provided a business update.

Business Highlights

  • Significantly expanded partnership with D-Wave Quantum Inc. to accelerate the development and delivery of integrated quantum and generative AI solutions in D‑Wave’s Leap cloud platform
  • Successfully collaborated with KPMG on a project to streamline the compliance models of a leading global insurance firm
  • Alongside its project collaborators, published select research findings from its participation in Phase II of the Defense Advanced Research Projects Agency (DARPA) Quantum Benchmarking program, a critical milestone in the project’s initiative
  • Announced a strategic collaboration with Tech Mahindra that leverages Zapata AI's quantum-based generative AI to improve network operations and customer service for Tech Mahindra's global telecom customers
  • Bolstered the senior leadership team with the additions of Sumit Kapur, an accomplished technology industry finance leader, as Chief Financial Officer, and Derron Blakely, who brings a strong legal background at fast-growing public companies in the AI and defense industries, as General Counsel
  • Subsequent to Q2 2024-end, announced a Cooperative Research and Development Agreement with the U.S. Department of Defense’s (“DOD”) U.S. Special Operations Command ("USSOCOM") to collaborate on real-time intelligence

Financial highlights

  • Revenue of $2.00 million in Q2 2024 versus $1.43 million in Q2 2023
  • Gross margin of 36.0% in Q2 2024 versus 19.7% in Q2 2023
  • Operating loss of $7.37 million in Q2 2024 versus $4.14 million in Q2 2023
  • Net cash used by operating activities of $6.11 million in Q2 2024 versus $3.61 million in Q2 2023
  • Cash and cash equivalents of $7.16 million, excluding $0.14 million of restricted cash, as of June 30, 2024 versus $7.25 million, excluding $0.14 million, at March 31, 2024
  • $6.06 million in net cash provided from financing activities during Q2 2024
  • Qualified pipeline of more than $30 million1

Executive Commentary
“Zapata AI is solving AI’s biggest challenges, which include addressing the deficiencies of Large Language Models (LLMs), the cost burden and accessibility challenges of AI compute, and the inherent risks posed to data privacy and security from AI platforms today, through our ensembles of small, quantum-inspired, highly tailored AI models,” said Christopher Savoie, CEO and Co-founder of Zapata AI. “This message has been well received by the market, and we made strong progress during the second quarter in building awareness and appreciation for our technology, evolving our partnerships, and growing our qualified pipeline of customers, which today stands at more than $30 million and spans across several focus industries.”

“During the second quarter, we expanded our commercial partnership with D-Wave to speed up the development and delivery of advanced AI systems that combine traditional and quantum computing. D-Wave is a complimentary partner for us, and we believe this expansion of our collaborative engagement demonstrates the value of our AI offering, and specifically how we are able to bolster the capability of their cloud service to create more efficient and powerful AI models. In insurance, we collaborated with KPMG to significantly improve a leading global insurance firm's risk and compliance modeling. By using advanced AI and optimization techniques, we managed to reduce the time needed to run complex models by more than 1,000 times while still maintaining accuracy. Defense remains a compelling market for our technology, and we were proud to publish our research findings from the second phase of Defense Advanced Research Projects Agency (“DARPA”) Quantum Benchmarking program. Alongside our project partners, we demonstrated how quantum computing can bring significant economic benefits by solving complex industrial problems faster and more efficiently. Further, our expertise in rapidly deploying AI solutions in challenging environments helped us to deepen our work with the DOD through the agreement we announced this week with USSOCOM to collaborate on AI-driven solutions that can enhance situational awareness, real-time decision-making and operational readiness. In telecom, our partnership with Tech Mahindra is enabling us to have conversations with their portfolio of service providers as we demonstrate how we can more accurately anticipate, predict, and respond to service disruptions and high-traffic events while optimizing network and operations management.”

“As we look ahead, we are excited by the robust level of dialogue we are having with prospective customers. We have seen significant growth in customer interest since the beginning of the year and especially in Q2, as evidenced by strong growth in our qualified pipeline in our target verticals. We are optimistic about an acceleration in our business and converting on this pipeline as we go through the second half of 2024 and beyond,” concluded Savoie.

Financial and Operating Results
Revenues in Q2 2024 were $2.00 million, which compares to revenues of $1.43 million in Q2 2023. The period over period improvement primarily reflects an increase in software license deliveries. Gross margin of 36.0% in Q2 2024 compares with 19.7% in Q2 2023 as the Company continues to see advances in its ability to drive profitability with increases in scale. Operating loss of $7.37 million in Q2 2024 compares to an operating loss of $4.14 million in Q2 2023 as general and administrative expenses increased by $3.01 million. A significant portion of this change is due to one-time fees that resulted from the Company’s Nasdaq public markets listing and the filing of a registration statement on Form S-1 in connection with the Company’s equity line of credit (“ELOC”), which drove higher professional services fees. Net loss in Q2 2024 was $15.58 million versus $4.72 million in Q2 2023. Q2 2024 net loss was impacted by a non-cash charge of $8.23 million loss related to the fair value change of a forward purchase agreement derivative liability.

Net cash used by operating activities in Q2 2024 was $6.11 million, which included $0.89 million in cash from working capital, and compares with $3.61 million used in Q2 2023. As of June 30, 2024, cash and cash equivalents stood at $7.16 million, excluding restricted cash of $0.14 million. This compares with $7.25 million, excluding restricted cash of $0.14 million, at March 31, 2024. Zapata AI generated $6.06 million in cash from financing activities during Q2 2024, which was primarily comprised of $5.30 million raised via the issuance of common stock from the ELOC. Subsequent to Q2 2024-end, the company entered into an additional purchase agreement with Lincoln Park Capital Fund, LLC pursuant to which Lincoln Park has elected to purchase from the company, at the company’s option, up to $10 million of shares of common stock subject to certain conditions.

Conference call information
Zapata AI will host a conference call today, August 14, 2024 at 8:30am ET to discuss its financial results and provide a business update. The conference call will be accessible live via a webcast on Zapata AI’s investor relations site, which can be found at ir.zapata.ai, and a replay of the webcast will be made available shortly after the event’s conclusion for one year.

1 Qualified pipeline figures are based on opportunities that 1) have a clearly identified budget, authority, need and timeline, 2) have progressed beyond the initial discovery stage and are typically in the proposal stage or later, and 3) are expected to close within the next 12 months.

About Zapata AI

Zapata AI (NASDAQ: ZPTA) helps large enterprise and government agencies unlock the promise of AI with industrial-grade enterprise AI solutions powered by Orquestra®, a proprietary software platform that speeds up the Model Development Lifecycle (MDLC). We use ensembles of specialized models and innovative quantum mathematics to deliver real-time, actionable insights across industries such as defense, manufacturing, automotive and finance. Our solutions excel in high-stakes scenarios where immediate, accurate decision-making is crucial, ensuring our clients maintain a competitive edge in rapidly changing environments. Founded in 2017 and headquartered in Boston, Massachusetts, with offices worldwide, Zapata AI holds one of the largest patent libraries for enterprise AI and quantum computing.

For more information on Zapata AI, visit our website or follow us on LinkedIn or X.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “intend,” “evolve,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “progress,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding anticipated interest in our offerings by potential customers, our ability to progress new opportunities across industries and other statements that are not historical facts. These statements are based on the current expectations of Zapata AI’s management and are not predictions of actual performance. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements include, but are not limited to, (i) our ability to enter into agreements with potential customers identified in our pipeline; (ii) a decline in the price of our securities if we fail to meet the expectations of investors or securities analysts; (iii) our ability to attract new customers, retain existing customers, and grow; competition in the generative AI industry; (iv) our ability to raise additional capital on non-dilutive terms or at all, including through our purchase agreements with Lincoln Park Capital Fund, LLC; (v) our ability to improve our operational, financial and management controls; (vi) failure to maintain and enhance awareness of our brand; (vii) increased costs associated with operating as a public company; (viii) protection of proprietary rights; intellectual property infringement, data protection and other losses; and (ix) other risks and uncertainties described in our filings with the Securities and Exchange Commission.


          
          
ZAPATA COMPUTING HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(in thousands, except share and per share amounts)

          
       June 30,
2024
 December 31,
2023
        
          
 Assets      
 Current assets:    
  Cash and cash equivalents $7,164  $3,332 
  Accounts receivable ($2,235 and $829 from related parties, respectively)  2,505   1,938 
  Prepaid expenses and other current assets  1,344   323 
    Total current assets  11,013   5,593 
  Property and equipment, net  106   156 
  Operating lease right-of-use assets  68   238 
  Deferred offering costs  -   1,943 
  Other non-current assets  -   137 
    Total assets $11,187  $8,067 
 Liabilities, Convertible Preferred Stock and Stockholders' Deficit    
 Current liabilities:    
  Accounts payable ($4,083 and $1,500 to related parties, respectively) $11,575  $6,452 
  Accrued expenses and other current liabilities  5,255   1,945 
  Deferred revenue  736   744 
  Deferred legal fees  2,953   - 
  Operating lease liability, current  75   252 
  Note payable - related party, current  2,305   - 
    Total current liabilities  22,899   9,393 
  Forward purchase agreement derivative liability  13,163   - 
  Senior secured notes  2,081   8,900 
    Total liabilities  38,143   18,293 
 Commitments and contingencies (Note 16)    
 Convertible preferred stock (Series Seed, A, B-1 and B-2), $0.0001 par value; 0 and 14,647,823 shares authorized at June 30, 2024 and December 31, 2023, respectively; 0 and 13,001,114 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively  -   64,716 
 Stockholders’ deficit:    
  Common stock, $0.0001 par value; 600,000,000 and 23,500,000 shares authorized at June 30, 2024 and December 31, 2023, respectively; 35,255,013 and 4,678,950 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively  4   - 
  Additional paid-in capital  100,545   14,633 
  Accumulated other comprehensive loss  (83)  (49)
  Accumulated deficit  (127,422)  (89,526)
    Total stockholders' deficit  (26,956)  (74,942)
    Total liabilities, convertible preferred stock and stockholders' deficit $11,187  $8,067 
          


               
               
ZAPATA COMPUTING HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(in thousands, except share and per share amounts)
               
       Three Months Ended June 30, Six Months Ended June 30, 
        2024   2023   2024   2023  
               
Revenue ($1,168, $494, $1,601 and $989 from related parties, respectively)$2,001  $1,432  $3,219  $2,944  
Cost of revenue 1,280   1,150   2,328   2,456  
 Gross profit  721   282   891   488  
Operating expenses:        
 Sales and marketing ($696, $696, $1,391 and $1,391 from related parties, respectively) 2,193   1,648   3,841   3,349  
 Research and development 1,593   1,470   3,007   3,599  
 General and administrative 4,307   1,299   6,489   2,768  
  Total operating expenses 8,093   4,417   13,337   9,716  
Loss from operations (7,372)  (4,135)  (12,446)  (9,228) 
Other income (expense):        
 Interest expense (77)  -   (862)  -  
 Loss on issuance of forward purchase agreement derivative liability -   -   (4,935)  -  
 Change in fair value of forward purchase agreement derivative liability (8,228)  -   (8,228)  -  
 Loss on issuance of senior secured notes -   -   (9,776)  -  
 Other income (expense), net 108   (558)  (1,636)  (529) 
   Total other expense, net (8,197)  (558)  (25,437)  (529) 
Net loss before income taxes (15,569)  (4,693)  (37,883)  (9,757) 
Provision for income taxes (7)  (23)  (13)  (27) 
Net loss   $(15,576) $(4,716) $(37,896) $(9,784) 
Net loss per share attributable to common stockholders, basic and diluted$(0.48) $(1.01) $(2.06) $(2.10) 
Weighted-average common shares outstanding, basic and diluted 32,182,440   4,661,226   18,383,203   4,659,238  
Net loss   $(15,576) $(4,716) $(37,896) $(9,784) 
Foreign currency translation adjustment (19)  (6)  (34)  (7) 
Comprehensive loss$(15,595) $(4,722) $(37,930) $(9,791) 
               



           
ZAPATA COMPUTING HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(in thousands)
           
       June 30, 
        
        2024   2023  
Cash flows from operating activities:    
Net loss    $(37,896) $(9,784) 
Adjustments to reconcile net loss to net cash used in operating activities:    
  Depreciation and amortization 75   86  
  Non-cash interest expense 761   -  
  Non-cash vendor payments 150   -  
  Loss on issuance of senior secured notes 9,776   -  
  Loss on issuance of forward purchase agreement derivative liability 4,935   -  
  Change in fair value of senior notes -   570  
  Change in fair value of forward purchase agreement derivative liability 8,228   -  
  Stock-based compensation 420   207  
  Non-cash lease expense 170   173  
  Equity line of credit commitment expense 1,688   -  
  Changes in operating assets and liabilities:    
    Accounts receivable (($1,405) and ($88) from related parties, respectively) (568)  280  
    Prepaid expenses and other current assets (881)  (482) 
    Accounts payable ($2,583 and $758 from related parties, respectively) 5,457   1,721  
    Accrued expenses and other current liabilities and other non-current liabilities (5)  (1,250) 
    Deferred revenue (8)  (279) 
    Deferred legal fees (378)  -  
    Operating lease liabilities (178)  (179) 
  Net cash used in operating activities (8,254)  (8,937) 
Cash flows from investing activities:    
Purchases of property and equipment (26)  (2) 
  Net cash used in investing activities (26)  (2) 
Cash flows from financing activities:    
Payment of deferred offering costs (2,929)  -  
Proceeds from the exercise of stock options 68   9  
Issuances of common stock under equity line of credit 5,300   -  
Proceeds from the reverse recapitalization 12,636   -  
Proceeds from the partial early termination of the forward purchase agreement 2,500   -  
Payment of note payable - related party (315)  -  
Prepayment for forward purchase agreement (10,986)  -  
Proceeds from senior and senior secured notes 5,878   4,875  
  Net cash provided by financing activities 12,152   4,884  
Effect of exchange rate changes on cash and cash equivalents (40)  (22) 
Net increase (decrease) in cash and cash equivalents 3,832   (4,077) 
Cash and cash equivalents and restricted cash at beginning of period 3,469   10,210  
Cash and cash equivalents and restricted cash at end of period$7,301  $6,133  
           


Contacts

Zapata AI
Media: press@zapata.ai
Investors: investors@zapata.ai


FAQ

What was Zapata AI's (ZPTA) revenue for Q2 2024?

Zapata AI (ZPTA) reported revenue of $2.00 million for Q2 2024, compared to $1.43 million in Q2 2023.

How much did Zapata AI's (ZPTA) operating loss increase in Q2 2024?

Zapata AI's (ZPTA) operating loss increased to $7.37 million in Q2 2024, compared to $4.14 million in Q2 2023.

What is the value of Zapata AI's (ZPTA) qualified pipeline as of Q2 2024?

Zapata AI (ZPTA) reported a qualified pipeline of more than $30 million across several focus industries as of Q2 2024.

How much cash did Zapata AI (ZPTA) have as of June 30, 2024?

Zapata AI (ZPTA) reported cash and cash equivalents of $7.16 million, excluding $0.14 million of restricted cash, as of June 30, 2024.

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