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Data Call Technologies, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in revenues to $120,125 from $138,233 in the same quarter the previous year. The decrease is attributed to customers not renewing their subscriptions.
Cost of sales for the quarter was $55,788, compared to $58,469 in the same quarter of the previous year. This decrease is due to efforts to maintain system costs.
The company reported a gross margin of $64,337 for the quarter, compared to $79,964 in the previous year.
Operating expenses increased to $71,625 from $63,030, contributing to a net loss of $8,577 for the quarter, compared to a net income of $16,767 in the previous year.
For the nine months ended September 30, 2024, revenues decreased to $383,841 from $414,864. The decline is primarily due to a decrease in customer renewals.
Cost of sales for the nine-month period increased to $163,102 from $137,321, impacting the gross margin, which decreased to $220,739 from $277,543.
Operating expenses for the nine-month period decreased to $245,823 from $265,163, resulting in a net loss of $27,240, compared to a net income of $12,488 in the previous year.
Data Call had total current assets of $90,091 as of September 30, 2024, with total current liabilities of $163,724, leading to a negative working capital of $73,633.
The filing also details the company's efforts to manage costs and streamline operations while focusing on increasing sales and gross revenues.
The report indicates the company does not anticipate increasing its monthly expenditures or number of employees in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Data Call Technologies Inc quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.