KonaTel Q2 2024 revenue $4.3M (-5.6%); operating loss $1.3M; CA Lifeline grows

KonaTel, Inc.

2024-Q2 EPS reported $0.16 revenue$9,979,016

GAAP net loss $1.1M ($0.03/share) vs $1.2M loss year ago; non-GAAP loss $885K.
Gross profit $900K (20.7% margin) up 16.2% YoY on higher ARPU activations.
Cash $3.7M at June 30, 2024, up from $777K at Dec 31, 2023.
California Lifeline reached record active lines; contracted 4 distribution partners for Asset Lite program.
Launched wireless POTS replacement service; signed 6 wholesale MSAs for national distribution.

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