secwatch.observer — SEC 8-K summary
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Issuer:     KonaTel, Inc. (KTEL)
CIK:        0000845819
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001515971-23-000073
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KonaTel Q1 2023 net loss widens to $915K; revenue down 4.6% YoY
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- Q1 revenue $4.0M, down 4.6% vs $4.2M year ago; gross profit $1.0M, down 39.2%.
- GAAP net loss $(915K) or $(0.02)/share vs $(44K) or $(0.00); operating loss $(753K) vs income $51K.
- Non-GAAP net loss $(608K) or $(0.01)/share vs income $135K or $0.00.
- Cash $1.6M vs $2.1M at Dec 31, 2022; CEO says subscriber activations up 50% QoQ.
- Customer acquisition costs and lower ACP reimbursement rate impacted margins.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/845819/000151597123000073/0001515971-23-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/845819/000151597123000073/ktel8k051523.htm
  HTML page:      https://secwatch.observer/filing/0001515971-23-000073

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer