Ainos Q1 revenue down 58% YoY to $20.7K; net loss widens to $3.3M; secures $9M convertible note

Ainos, Inc.

2024-Q1 EPS reported -$0.57 revenue$20,729

Revenue of $20,729 in Q1 2024, down 58% from $49,164 in Q1 2023, due to pivot from COVID-19 test kits.
Net loss attributable to common stockholders was $3.3M, compared to $2.5M in prior year.
Cash and cash equivalents $1.03M as of Mar 31, 2024, down from $1.89M at Dec 31, 2023.
Raised $9M convertible note post-quarter (6% interest, convertible at $4.50/sh) from existing shareholder.
Submitted clinical hold response to FDA for VELDONA Phase II trial for mild COVID-19.

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

Ainos, Inc. reported first quarter ended March 31, 2024 results: revenue US$20,729, net income US$3,314,810.

Period: first quarter ended March 31, 2024
Revenue: US$20,729
Net income: US$3,314,810
Result: reported results

Exact text from the filing

Revenues were US$20,729 in the first quarter of 2024, compared to US$49,164 in the same period of 2023, reflecting the Company’s cessation of sales of its COVID-19 antigen rapid test kits during the first quarter of 2024 after a strategic pivot shift.

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Source: SEC EDGAR

accession 0001493152-24-018884

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