Spectra7 Micro (TSE:SEV) has released an update.
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Spectra7 Microsystems Inc. has reported a first-quarter revenue of $0.8 million for 2024, marking an increase from the previous quarter but a decrease from the same period last year. The company has successfully raised C$10.7 million in new capital and eliminated C$11.7 million in convertible debt, positioning itself for expected commercial orders in the latter half of 2024. Despite the revenue dip, the CEO expressed optimism for growth, bolstered by a stronger balance sheet and the absence of long-term debt.
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