Revenue of $1.4M
Cash-based Operating Expenses reduced by 50% YoY and 16% vs Q1 2024
EBITDA loss reduced by 54% YoY
TORONTO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- ARHT Media Inc. ("ARHT" or "the Company") (TSXV:ART), (OTCQB:ARHTF) the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, today announced its financial results for the second quarter ended June 30, 2024.
Q2 2024 Financial Update
Revenue for Q2 2024 of $1.4M
Cash based Operating Expenses reduced to $1.5M vs $2.9M, a 50% improvement.
Q2 2024 EBITDA loss of ($0.7M) vs ($1.5M) in Q2 2023, a positive reduction of 54%.
Q2 2024 Business Highlights
ShowWindowMax multi panel display premiered with the art of famed British artist Allen Jones in Paris in May
ARHT beamed 4 surgeons simultaneously from 3 different countries into a 4th country for a major medical conference, a world's first
"We continue to focus on a reduction in operating costs while simultaneously working with enterprise organizations through multiple proof of concepts that have the potential for large scale adoption," stated ARHT CEO Larry O'Reilly, "Combining AI life like avatars with our holographic display continues to grow in interest from multiple potential clients."
About ARHT
ARHT is a pioneer and ...
