LBT Innovations Reports Revenue Drop and Net Loss

LBT Innovations Limited (AU:LBT) has released an update.

LBT Innovations Limited reported a revenue of $1.71 million for the fiscal year ended 30 June 2024, marking a 24.6% decrease from the previous year, with a net loss of $3.74 million, an improvement from the prior year’s heavier losses. The company’s net tangible assets per share also fell to 0.0016 of a cent. No dividends were issued, and the financial report includes an audit opinion with a material uncertainty regarding the company’s ability to continue as a going concern.

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