secwatch.observer — SEC 8-K summary
======================================

Issuer:     KonaTel, Inc. (KTEL)
CIK:        0000845819
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001515971-24-000036
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/845819/000151597124000036/0001515971-24-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/845819/000151597124000036/ktel8k040124.htm
  HTML page:      https://secwatch.observer/filing/0001515971-24-000036

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