Revenue grew 23% YoY to
Cash-based Operating Expenses reduced by 44%
EBITDA loss reduced by 48%
Q1 2024 Financial Update
- Revenue for Q1 2024 was
$1.6M vs$1.3M for Q1 2023, a 23% increase. - Cash based Operating Expenses reduced to
$1.8M vs$3.2M , a 44% improvement. - Q1 2024 EBITDA loss of (
$0.9M ) vs ($2.5M ) in Q1 2023, a positive reduction of 48%.
Q1 2023 Business Highlights
- Signed the largest contract in the Company’s history with the
University of Quebec atTrois Rivieres , to deliver 13 ARHT systems (5 CAPSULE hologram displays and 8 capture studios). - Signed a contract for 5 CAPSULE hologram displays with a luxury global fashion brand to be installed at their various country HQs in
Italy, USA ,Singapore ,China andKorea . This follows an installation inJapan in Q4 2023. - Signed contracts with several new major enterprise clients through three new channel partners, contributing
$261k in Q1 revenue.
“Our 2024 strategy to increase revenues and decrease costs has been positively reflected in our Q1 2024 results and should continue to improve through Q2 and the remainder of 2024. In particular, in Q2 2024, we expect sequential quarterly improvements in terms of both revenues and reduced cash operating costs,” stated ARHT CEO
About ARHT
ARHT is a pioneer and the global leader in live hologram technology. Thanks to its patented end-to-end technology, executives, medical experts, educators, entertainers, and thought leaders can travel at the speed of light to any destination.
ARHT was founded in 2014 and is publicly traded on the
Connect with ARHT:
LinkedIn: https://www.linkedin.com/company/arht-tech
Instagram: https://www.instagram.com/arht.tech
Facebook: https://www.facebook.com/arht.tech
X: https://twitter.com/arht_tech
YouTube: https://www.youtube.com/@arht-tech
For more information, please visit www.arht.tech/about/investors or www.arht.tech.
Alternatively, email us directly at info@arht.tech.
ARHT trades under the symbol "ART" on the
Press Inquiries:
kspence@arht.tech
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the intention to exercise convertible securities of the Company; disclosure related to the Company's sales funnel; the Company's technology; the potential uses for the Company's technology; the future planned events using the Company's technology; the future success of the Company; the ability of the Company to monetize the
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