Strong Global Q1 revenue $11.1M (+11% YoY); net income drops to $0.1M

Strong Global Entertainment, Inc.

2024-Q1 EPS reported -$0.01 revenue$11,070,000

Revenue $11.1M, up 11.2% YoY; gross margin improved to 24.0% from 23.3%.
Net income from continuing ops $0.1M vs $0.6M YoY; Adjusted EBITDA $0.4M vs $0.8M.
In April 2024, announced merger of Strong/MDI with SPAC FG Acquisition at $30M valuation; company retains significant stake.
General & administrative costs rose due to standalone public company expenses, offsetting gross profit gains.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Strong Global Entertainment, Inc. reported the first quarter ended March 31, 2024 results: revenue $11.1 million, net income $0.1 million.

Period: the first quarter ended March 31, 2024
Revenue: $11.1 million
Net income: $0.1 million
Result: reported results

Exact text from the filing

or “Strong Global Entertainment”) today announced operating results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights ● Revenue increased 11.2% to $11.1 million for the quarter - The acquisition of Innovative Cinema Solutions (“ICS”) and increased product sales contributed favorably to revenue growth. ● Gross profit improved to 24.0%

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Source: SEC EDGAR

accession 0001493152-24-019268

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