ZW Data Action Q1 revenue down 17.5% to $6.32M; net loss widens to $1.14M

ZW Data Action Technologies Inc.

Revenue fell to $6.32M from $7.65M YoY, driven by COVID-19 impact on SME clients.
Gross loss of $0.31M vs. gross profit of $0.13M a year ago; gross margin turned negative.
Net loss attributable to CNET of $1.14M ($0.16 per share) vs. $0.72M ($0.10) in Q1 2022.
Cash and equivalents dropped to $1.59M from $4.39M as of Dec 31, 2022.
Operating loss margin was 21% vs. 20% a year earlier; operating loss narrowed to $1.31M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ZW Data Action Technologies Inc. reported first quarter of 2023 results: revenue $6.32 million, net income Net loss attributable to CNET was approximately $1.14 million, EPS loss per share of $0.16.

Period: first quarter of 2023
Revenue: $6.32 million
Net income: Net loss attributable to CNET was approximately $1.14 million
EPS: loss per share of $0.16
Result: reported results

Exact text from the filing

three months ended March 31, 2023. First Quarter 2023 Financial Results Revenues For the first quarter of 2023, revenues decreased by approximately $1.34 million, or 17.5%, to $6.32 million from $7.65 million for the same period last year. The decrease in revenues was primarily attributable to the decrease in revenues from our Internet advertising and related data

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Source: SEC EDGAR

accession 0001171843-23-003481

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