In This Story
ALT5 Sigma Corporation (ALTS+4.51%) has filed its annual report on Form 10-K for the fiscal year ended December 28, 2024. The filing is available for review filing.
The company reported total revenue of $12.5 million for the fiscal year, primarily driven by its Fintech segment, which provides blockchain-powered technologies. This marks an increase from the previous year, attributed to the acquisition of ALT5 Subsidiary in May 2024.
Operating expenses for the year were $13.9 million, with selling, general, and administrative expenses accounting for the majority. There were no impairment charges recorded during the fiscal year.
ALT5 Sigma reported a net loss from continuing operations of $6.2 million, which is a decrease from the $17.1 million loss reported in the previous fiscal year. The company also recorded a net loss per share of $0.56.
The company's balance sheet shows total assets of $82.4 million, with cash and cash equivalents of $7.2 million. Total liabilities were reported at $53.8 million, resulting in a stockholders' equity of $24.8 million.
ALT5 Sigma's Biotech segment, focused on non-addictive pain-relieving therapies, did not generate revenue during the fiscal year. The company plans to finance future development through capital raises and structured arrangements.
The company completed the sale of its Recycling Subsidiaries in March 2023, which are classified as discontinued operations. This sale resulted in a gain of $12.1 million.
ALT5 Sigma continues to navigate a challenging competitive environment, focusing on improving profitability and managing expenses. The company acknowledges the need for additional funding to support its operations and development projects.
The filing also details various financial activities, including the issuance of debentures, related party transactions, and the acquisition of Qoden Technologies' assets.
ALT5 Sigma's management has expressed confidence in the company's ability to continue as a going concern, citing plans for future capital raises and cash flows from its Fintech segment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ALT5 Sigma Corporation annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.