Senmiao Q2 FY2024 revenue down 18% YoY to $1.8M; net loss widens to $1.21M

Senmiao Technology Ltd

2024-Q2 EPS reported -$0.17 revenue$3,921,665

Total revenues $1.8M vs $2.2M YoY; ride-hailing platform services fell to $0.6M from $1.0M due to competition and Gaode compliance checks in Guangzhou.
Auto rental revenue rose 8.9% to $1.0M; gross profit increased 21.1% to $0.4M.
Loss from operations narrowed to $1.3M from $1.6M YoY, driven by cost-cutting and lower SG&A expenses (down 27.8% to $1.1M).
Net loss was $1.21M compared to $1.18M in prior-year period; diluted EPS loss $0.12 vs $0.15.
Cash and equivalents $1.3M as of Sep 30, 2023, down from $1.6M at Mar 31, 2023; stockholder equity dropped to $2.5M.

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 the fiscal second quarter ended September 30, 2023 results: revenue $1.8 million, net income $1.21 million, EPS $0.12.

Period: the fiscal second quarter ended September 30, 2023
Revenue: $1.8 million
Net income: $1.21 million
EPS: $0.12
Result: reported results

Exact text from the filing

today announced financial results for its fiscal 2024 second quarter ended September 30, 2023. Fiscal 2024 Second Quarter Financial and Operating Highlights · Total revenues of $1.8 million, compared to $2.2 million in the prior-year period, primarily due to decreased revenues from online ride-hailing platform services as a result of fewer completed orders due to

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Source: SEC EDGAR

accession 0001104659-23-118194

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