Akerna Q3 2022: Software revenue up 17% to $5.3M, net loss widens to $2.3M

American Bitcoin Corp.

2022-Q3 EPS reported -$22.23 revenue$18,449,524

Total revenue $5.4M (+5% YoY); software revenue $5.3M (+17% YoY).
Gross profit $3.4M (62% margin); loss from operations of $0.8M included a $3.0M earn-out adjustment benefit.
Net loss $2.3M vs $1.5M in Q3 2021; Adjusted EBITDA loss narrowed to $1.4M from $1.5M.
75% of revenue is recurring annual; cash and restricted cash $9.5M as of Sept 30, 2022.
CEO cites cost controls and narrowing EBITDA losses as path to sustained profitability.

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 0.9

American Bitcoin Corp. reported the third quarter ended September 30, 2022 results: revenue $5.4 million, net income $2.3 million.

Period: the third quarter ended September 30, 2022
Revenue: $5.4 million
Net income: $2.3 million
Result: reported results

Exact text from the filing

Total revenue was $5.4 million, up 5% year-over-year ● Gross profit of $3.4 million, or 62% of total revenues, was essentially flat with $3.2 million, or 62% of total revenues in the same period of 2021 ● Loss from operations was $0.8 million which included a $3.0 million benefit, attributable to an acquisition earn-out adjustment, compared to a loss of $3.7 million in last year’s same period ● Net loss was $2.3 million compared to a loss of $1.5 million in last year’s third quarter

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Source: SEC EDGAR

accession 0001213900-22-071551

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