KonaTel FY2022 revenue up 56% to $20M; net loss $3M vs prior net income $623K

KonaTel, Inc.

2023-Q1 EPS reported -$0.02 revenue$4,031,719

Revenue $20.0M, +56% YoY; gross profit $5.0M, -12.9% due to customer acquisition investment.
GAAP net loss $(3.0)M ($(0.07)/share) vs net income $623K ($0.01/share) in 2021.
Non-GAAP net loss $(1.8)M ($(0.04)/share) vs non-GAAP net income $2.1M ($0.05/share).
Cash $2.1M, +120.4%; secured $3.15M capital financing to accelerate mobile services growth.
Business highlights: Equiva Health partnership, $7.2M multi-year contract extension, expanded management.

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