ZW Data Action Tech reports FY2022 net loss of $9.79M; revenue down 44.6% to $26.24M

ZW Data Action Technologies Inc.

Revenue fell to $26.24M from $47.33M, driven by COVID-19 impact on SME clients in China.
Net loss widened to $9.79M ($1.37 EPS) from $2.75M ($0.42 EPS) in 2021.
Operating loss was $11.12M; operating margin worsened to (42.4%) from (28.7%).
Cash and equivalents $4.39M at Dec 31, 2022 vs $7.17M; working capital $6.61M.
Effectuated 1-for-5 reverse stock split in Jan 2023 to regain Nasdaq $1.00 bid compliance.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ZW Data Action Technologies Inc. reported the year ended December 31, 2022 results: revenue $26.24 million, net income $9.79 million, EPS $1.37.

Period: the year ended December 31, 2022
Revenue: $26.24 million
Net income: $9.79 million
EPS: $1.37
Result: reported results

Exact text from the filing

For the full year of 2022, revenues decreased by $21.09 million, or 44.6%, to $26.24 million from $47.33 million for the last year.

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ZW Data Action Technologies Inc. filing history →

Source: SEC EDGAR

accession 0001171843-23-002338

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