secwatch.observer — SEC 8-K summary
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Issuer:     ZW Data Action Technologies Inc. (CNET)
CIK:        0001376321
Form:       8-K
Filed at:   2023-05-22T23:59:59+00:00
Accession:  0001171843-23-003481
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1376321/000117184323003481/0001171843-23-003481-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1376321/000117184323003481/f8k_052223.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-003481

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer