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ASST Nasdaq· Asset Entities Inc
Earnings report Q3 2023

ASSET ENTITIES INC. Reports Decreased Revenues in Latest Quarter

Segments of Revenue

ASSET ENTITIES INC. reported revenues of approximately $60.1 million for the three months ended September 30, 2023, representing a decrease of 26.1% compared to the same period in 2022. The decrease in revenues was primarily attributed to a decline in revenues from Discord paying subscribers during the quarter.

Strengths

Despite the decrease in revenues, ASSET ENTITIES INC. maintained a strong financial position. The company's subscription pricing structure remained consistent, indicating that the decline in revenues was not due to changes in pricing. Additionally, management comments were not provided in the report, but it can be inferred that the company is focused on managing costs and maintaining profitability.

Challenges

ASSET ENTITIES INC. faced challenges in the latest quarter, as evidenced by the increase in total operating expenses. Operating expenses surged by 657.6% to approximately $1.25 million compared to the same period in 2022. This increase was primarily driven by higher costs associated with the company's initial public offering and administrative expenses related to public filings. Additionally, management compensation costs also rose significantly.

Noteworthy

It is worth noting that ASSET ENTITIES INC. experienced a substantial increase in net loss, which surged by 1,323.1% to approximately $1.19 million for the three months ended September 30, 2023, compared to the same period in 2022. This increase was primarily due to the higher costs associated with the company's initial public offering and administrative expenses, as well as the rise in management compensation costs.

Summary

ASSET ENTITIES INC. faced a challenging quarter with a significant decrease in revenues and a substantial increase in operating expenses and net loss. The decline in revenues was primarily attributed to a decrease in revenues from Discord paying subscribers. However, the company maintained a strong financial position and its subscription pricing structure remained consistent. ASSET ENTITIES INC. will need to address the increase in operating expenses and manage costs effectively to improve profitability in future quarters.

Source documents

Form 10-Q  filed on Nov 14, 2023
3 pages scanned

Reference data

Company financials Q3 revenue 60.1k
Analyst estimates Q3 EPS missed by NaN%
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