Spectra7 Micro (TSE:SEV) has released an update.
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Spectra7 Microsystems Inc. reported a decrease in annual revenue to $9.9 million for 2023, down from the previous year, with a consistent net loss per share but a higher gross margin of 57%. The company’s EBITDA loss widened to $4.1 million and they anticipate Q1 2024 revenues of $0.75 million, significantly lower than Q1 2023. Amidst liquidity challenges, Spectra7 is exploring strategic options, including potential sales or mergers, to secure its financial future.
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