Volcon Q3 revenue $0.5M, net loss $11.3M; Stag delayed to Nov, regains Nasdaq compliance

Empery Digital Inc.

2023-Q3 EPS reported -$7.57 vs consensus -$396576.00 ▲ beat (+100.0%)

Q3 revenue $487K; net loss $11.3M vs $23.0M in Q2; nine-month net loss $41.7M.
Stag launch delayed from October to November 2023; Runt LT deferred to 2024.
Dealer count dropped to 133 from 143; entered accounts receivable factoring with Prestige Capital.
Regained Nasdaq compliance on Oct 30 after bid price above $1.00 for 10 consecutive days.
Adjusted EBITDA loss of $8.9M in Q3 vs $4.2M in Q2; inventory write-down of $1.6M.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Empery Digital Inc. reported the three months ended September 30, 2023 results: revenue $487,430, net income $(11,327,896).

Period: the three months ended September 30, 2023
Revenue: $487,430
Net income: $(11,327,896)
Result: reported results

Exact text from the filing

Financial highlights: 3 Months Ended Nine Months Ended September GAAP September 30, 2023 June 30, 2023 March 31, 2023 2023 2022 Revenue $ 487,430 $ 519,300 $ 1,170,458 $ 2,177,188 $ 3,795,065 Cost of goods sold (3,542,468 ) (334,647 ) (1,229,981 ) (5,107,096 ) (11,549,871 ) Gross Margin (3,055,038 ) 184,653 ) (59,523 ) (2,929,908 ) (7,754,806 ) Sales & Marketing 1,870,532 2,380,617 1,789,370 6,040,519 3,942,827 Product Development 2,983,197 1,166,732 1,786,351 5,936,280 6,775,768 General & Administrative 1,544,344 1,568,700 1,890,091 5,003,135 7,409,601 Total Operating Expenses 6,398,073 5,116,049 5,465,812 16,979,934 18,128,196 Loss from Operations (9,453,111 ) (4,931,396 ) (5,525,335 ) (19,909,842 ) (25,883,002 ) Other Income (Expense) (1,874,785 ) (18,096,798 ) (1,774,134 ) (21,745,717 ) (554,989 ) Net loss $ (11,327,896 ) $ (23,028,194 ) $ (7,299,469 ) $ (41,655,559 ) $ (26,437,991 )

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Empery Digital Inc. reported the nine months ended September 30, 2023 results: revenue $2,177,188, net income $(41,655,559).

Period: the nine months ended September 30, 2023
Revenue: $2,177,188
Net income: $(41,655,559)
Result: reported results

Exact text from the filing

Financial highlights: 3 Months Ended Nine Months Ended September GAAP September 30, 2023 June 30, 2023 March 31, 2023 2023 2022 Revenue $ 487,430 $ 519,300 $ 1,170,458 $ 2,177,188 $ 3,795,065 Cost of goods sold (3,542,468 ) (334,647 ) (1,229,981 ) (5,107,096 ) (11,549,871 ) Gross Margin (3,055,038 ) 184,653 ) (59,523 ) (2,929,908 ) (7,754,806 ) Sales & Marketing 1,870,532 2,380,617 1,789,370 6,040,519 3,942,827 Product Development 2,983,197 1,166,732 1,786,351 5,936,280 6,775,768 General & Administrative 1,544,344 1,568,700 1,890,091 5,003,135 7,409,601 Total Operating Expenses 6,398,073 5,116,049 5,465,812 16,979,934 18,128,196 Loss from Operations (9,453,111 ) (4,931,396 ) (5,525,335 ) (19,909,842 ) (25,883,002 ) Other Income (Expense) (1,874,785 ) (18,096,798 ) (1,774,134 ) (21,745,717 ) (554,989 ) Net loss $ (11,327,896 ) $ (23,028,194 ) $ (7,299,469 ) $ (41,655,559 ) $ (26,437,991 )

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Empery Digital Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-007527

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