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Blackboxstocks Inc. (BLBX-5.73%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in revenue to $2,566,946 from $3,106,026 in the previous year, attributed to a decline in subscribers and increased competition. The company recorded an operating loss of $3,309,064, compared to a loss of $5,297,671 in the prior year.
Cost of revenues for the year was $1,437,283, resulting in a gross margin of $1,129,663 or 44.0% of revenues, down from 46.4% in the previous year.
Operating expenses decreased to $4,438,727 from $6,737,505, with reductions in software development costs, advertising, and general administrative expenses.
The company reported a net loss of $3,471,227, compared to a net loss of $4,664,455 the previous year.
Cash used in operations was $705,725, with cash flows from financing activities providing $1,346,761, primarily from the issuance of common stock.
Blackboxstocks entered into a merger agreement with REalloys Inc. on March 10, 2025, with plans for REalloys to become a wholly-owned subsidiary. The merger is subject to customary closing conditions, including SEC approval.
The company also entered into a Securities Purchase Agreement with Five Narrow Lane LP for financing of up to $2,300,000, with $1,050,000 already received.
Blackboxstocks has filed a registration statement on Form S-3 for the sale of up to $50,000,000 of securities, with limitations based on public float.
The company continues to focus on its financial technology and social media hybrid platform, offering real-time analytics and news for stock and options traders.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Blackboxstocks Inc. annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.