Akili reports Q1 revenue of $383K; prepays SVB debt; evaluating strategic alternatives

Akili, Inc.

2024-Q1 EPS reported -$0.12 revenue$383,000

Total revenues $383K in Q1 2024 vs $749K in Q4 2023, driven by reduced EndeavorOTC advertising spend.
GAAP net loss $9.8M in Q1 2024; cash and equivalents $63.2M as of March 31, 2024.
On May 8, 2024, voluntarily prepaid all debt under SVB loan agreement; no outstanding debt remaining.
Board evaluating strategic alternatives to maximize shareholder value, in parallel with restructuring and workforce reduction.
No longer reporting commercial metrics for EndeavorOTC; focus on supporting Shionogi agreement and existing customers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Akili, Inc. reported the quarter ended March 31, 2024 results: revenue $383 thousand, net income GAAP net loss was $9.8 million.

Period: the quarter ended March 31, 2024
Revenue: $383 thousand
Net income: GAAP net loss was $9.8 million
Result: reported results

Exact text from the filing

and cash equivalents as of March 31, 2024 were $63.2 million compared to $75.2 million as of December 31, 2023. ● Revenues: Total revenues for the first quarter of 2024 were $383 thousand compared to $749 thousand for the fourth quarter of 2023, primarily due to reduced EndeavorOTC advertising spend. ● Total Operating Expenses: GAAP total operating expenses were

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Source: SEC EDGAR

accession 0001193125-24-138222

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