KonaTel reports FY2023 revenue of $18.2M, net loss widens to $3.9M

KonaTel, Inc.

2024-Q1 EPS reported $0.19 revenue$5,635,836

FY2023 revenue $18.2M, down 9% from $20.0M in 2022; GAAP net loss $3.9M ($0.09/sh) vs $3.0M loss.
Non-GAAP net loss $2.9M ($0.07/sh) vs $1.8M loss; cash fell to $777K from $2.1M.
Q4 revenue up 2.3% to $4.9M but gross margin collapsed to 6.8% due to higher customer acquisition costs.
CEO cites transition to higher-margin subsidized mobile; added 8 new Lifeline states in Q1 2024.
Apeiron subsidiary secured 5-year exclusive Viva-US wholesale deal and Altigen agreement for recurring revenue.

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