Senmiao Tech Q1 FY2024 revenue $2.1M; net loss $0.4M vs prior-year net income $0.2M

Senmiao Technology Ltd

2024-Q1 EPS reported -$0.05 revenue$2,094,714

Revenue $2.1M, down 8.7% YoY from $2.3M, due to increased competition in ride-hailing.
Operating loss narrowed to $0.8M from $1.4M; gross profit up 26.5% to $0.6M.
Net loss $0.4M vs net income $0.2M prior year, due to $1.3M decrease in fair value change of derivatives.
Diluted EPS loss $0.05 vs earnings $0.05 prior year; weighted shares 7.9M vs 6.3M.
SG&A decreased 35.2% to $1.2M on cost controls; cash $1.2M at quarter end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Senmiao Technology Ltd reported fiscal 2024 first quarter ended June 30, 2023 results: revenue $2.1 million, net income $0.4 million net loss, EPS Loss per diluted share of approximately $0.05.

Period: fiscal 2024 first quarter ended June 30, 2023
Revenue: $2.1 million
Net income: $0.4 million net loss
EPS: Loss per diluted share of approximately $0.05
Result: reported results

Exact text from the filing

today announced financial results for its fiscal 2024 first quarter ended June 30, 2023. Fiscal 2024 First Quarter Financial and Operating Highlights · Total revenues of $2.1 million, compared to $2.3 million in the prior-year period, primarily due to lower revenues from online ride-hailing platform services as a result of increased competition. · From

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Source: SEC EDGAR

accession 0001104659-23-091308

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