Zapata AI reports Q1 revenue $1.22M (down 19% YoY); net loss $22.32M includes $14.7M non-cash charges

Zapata Quantum, Inc.

2024-Q1 EPS reported -$4.09 revenue$1,218,000

Revenue $1.22M vs $1.51M YoY; operating loss flat at $5.08M.
Net loss $22.32M includes $9.78M loss on senior secured notes and $4.94M on derivative liability.
Cash and equivalents $7.25M; raised $5.4M in additional capital post-quarter through May 10.
Expanded Andretti Global deal ($1M); partnerships with D-Wave and Tech Mahindra announced.
Completed business combination with Andretti Acquisition Corp. and began trading on Nasdaq April 1.

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

Zapata Quantum, Inc. reported the first quarter of 2024 results: revenue $1.22 million.

Period: the first quarter of 2024
Revenue: $1.22 million
Result: reported results

Exact text from the filing

generative AI on offerings that enhance operational efficiencies and customer responsiveness for Tech Mahindra’s global telecom customers Financial highlights • Revenue of in $1.22 million in Q1 2024 versus $1.51 million in Q1 2023 • Operating loss of $5.08 million in Q1 2024 versus $5.09 million in Q1 2023 • Cash used by operating activities of $2.15 million in Q1

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Source: SEC EDGAR

accession 0001193125-24-138880

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