KonaTel Q1 revenue up 40% to $5.6M; GAAP net income $8.1M on $9.2M gain from sale of 49% of IM Telecom

KonaTel, Inc.

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

Revenue $5.6M (+40% YoY); gross profit $1.1M (20.0% margin).
GAAP net income $8.1M ($0.19/diluted share) includes $9.2M gain on sale of 49% stake in IM Telecom.
Non-GAAP net loss $(834k) ($0.02/share) vs $(608k) loss in Q1 2023.
Cash $3.9M (up from $777k Dec 2023); all outstanding debt repaid using proceeds from IM sale.
Pending five-year exclusive agreement to provide wholesale cellular service to Viva-USA.

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