tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Zoomd Technologies Stabilizes with Positive Q4 Income

Zoomd Technologies Stabilizes with Positive Q4 Income

Zoomd Technologies Ltd. (TSE:ZOMD) has released an update.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Zoomd Technologies Ltd. has released its financial results for the fourth quarter and full year of 2023, revealing a 39% revenue decline primarily due to challenges in the cryptocurrency sector and a strategic shift away from unprofitable activities. Despite the revenue drop, the company saw a 6% increase in gross margins and achieved positive operating income in Q4 for the first time in five quarters. The company also ended the year with a healthy cash balance and no long-term debt, signaling a pivot to cash generation from operational activities.

For further insights into TSE:ZOMD stock, check out TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1