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CareView Communications Inc (CRVW-2.63%). has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, including total revenues of $8,251,215, a decrease from $9,684,618 in the previous year. The decrease is primarily attributed to a reduction in sales-based equipment package revenue.
Operating expenses for the year totaled $9,828,123, down from $10,372,920 in the previous year. The company reported an operating loss of $1,576,908, compared to $688,302 in the prior year.
Interest expenses remained consistent at $3,208,500, contributing to a total other income and expense figure of $(3,153,658).
The company reported a net loss of $4,701,144 for the year, compared to a net loss of $3,952,289 in the previous year.
CareView's cash flow from operating activities was $(238,652), a decrease from $703,614 in the prior year. Cash used in investing and financing activities was $(139,911) and $(8,042), respectively.
CareView's working capital deficit as of December 31, 2024, was $41,138,868, with an accumulated deficit of approximately $212,586,000.
The company continues to face substantial doubt about its ability to continue as a going concern, with management focusing on increasing sales volumes and raising additional capital.
The filing also discusses various agreements, including a Tenth Amendment to the Credit Agreement with PDL BioPharma, Inc., extending the maturity date to June 30, 2025.
CareView highlights its ongoing commitment to providing patient safety solutions, with its products installed in over 150 hospitals and a focus on expanding its market presence.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CareView Communications Inc annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.