ZW Data Action Q1 2022 revenue down 8.9% to $7.65M; net loss $0.72M vs prior year net income

ZW Data Action Technologies Inc.

Revenue $7.65M, down 8.9% YoY; gross profit turned positive to $0.13M from gross loss of $0.72M.
Operating loss $1.55M improved from $1.82M; operating loss margin 20.3% vs 21.6%.
Net loss attributable to CNET $0.72M ($0.02 loss per share) vs net income $0.69M ($0.02 EPS) prior year.
Cash and equivalents $4.82M as of March 31, 2022, down from $7.17M at Dec 31, 2021.
Company cites regional COVID-19 rebound in China affecting SME clients as cause for revenue decline.

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