Nanalysis Scientific Corp (TSE:NSCI) has released an update.
Nanalysis Scientific Corp. reported a 36% increase in consolidated revenue for Q4 2023, reaching $9.8 million, driven by significant growth in service revenue related to security services. Gross margins on product sales improved to 48%, though service margins were negative due to upfront training costs for the Airport Security Project. Despite these developments, the company experienced a net loss for the quarter, although it was an improvement from the previous year, and remains optimistic about margin improvements in 2024.
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