Realbotix Reports Financial Results for Q3-2024
Q3-2024 Financial and Operating Highlights
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On
April 18, 2024 , the Company completed the acquisition ofSimulacra Corporation (“Simulacra”). -
On
July 9, 2024 , shareholders approved the rebranding of the business, with the new consolidated company now operating as “Realbotix Corp”. -
Total assets as of
June 30, 2024 , of$23.5 million , an increase of 138% compared toSeptember 30, 2023 total assets of$9.9 million , due to the assets acquired from Simulacra and the appreciation of certain digital assets. -
Revenue of
$313k and$818k , an increase of 143% and 40%, respectively, for the three and nine months endedJune 30, 2024 , compared to revenue of$128k and$584k , respectively, for the three and nine months endedJune 30, 2023 (“Q3-2023”); -
Net income of
$3.4 million for the nine months endedJune 30, 2024 , compared to net loss of$879k for the nine months endedJune 30, 2023 , due to a non-cash gain on revaluation of digital assets and several corporate initiatives to reduce operating expenses. -
Net loss of
$2.6 million for the three months endedJune 30, 2024 , compared to net loss of$902k for the three months endedJune 30, 2023 , mostly due to a non-cash loss on revaluation of digital assets. -
On
August 2, 2024 , the Company received 189 Ethereum fromGenesis Global Capital (“Genesis”) as part of Genesis’ restructuring process and expects to receive further distributions from Genesis throughout the remainder of 2024.
“In 2024, the Company underwent substantial changes in the interest of enhancing shareholder value. Our focus going forward will be to grow our presence in the AI-enabled humanoid robot market,” said
A complete financial reporting package, including the Unaudited Condensed Consolidated Interim Financial Statements and Management’s Discussion & Analysis, is available on our corporate website (www.realbotix.ai), and the SEDAR+ website (www.sedarplus.ca).
An investor call has been scheduled to discuss the Company’s Q3-2024 financial results, hosted by CEO
Conference Call Details:
Date:
Time:
Zoom Webinar Registration:
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About
Transcending the barrier between man and machine,
Our mission is to create robots and AI that are indistinguishable from humans in appearance and social interaction.
Visit Realbotix.AI to learn more.
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Forward-Looking Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, as described in more detail in our securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240828614192/en/
Email: contact@realbotix.ai
Email: contact@realbotix.ai
Telephone: 647-578-7490
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