earnings
confidence high
sentiment negative
materiality 0.70
ZW Data Action Q2 revenue falls 52% to $6.95M; net loss narrows to $1.71M
ZW Data Action Technologies Inc.
- Q2 revenue $6.95M, down 52.3% YoY; cost of revenue down 52.4% to $7.03M.
- Net loss attributable to CNET improved to $1.71M ($0.05 loss per share) from $3.65M ($0.11) in Q2 2021.
- Cash and equivalents $4.45M at June 30, 2022 vs $7.17M at Dec 31, 2021; working capital $9.82M.
- Revenue decline driven by COVID-19 resurgence in China impacting SME clients.