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BRAC Nasdaq· Broad Capital Acquisition Corp
Earnings report Q3 2023

Broad Capital Acquisition Corp Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

Broad Capital Acquisition Corp reported robust revenue growth in the latest quarter across its various segments. The company's revenue can be broken down as follows:

  1. Formation and operating costs: The company reported a revenue of $612,607 in the three months ended September 30, 2023, compared to $252,312 in the same period last year. This represents a significant increase in revenue in this segment.

  2. Franchise tax: Broad Capital Acquisition Corp reported a revenue of $50,000 in the three months ended September 30, 2023, compared to $0 in the same period last year. This indicates a positive contribution to the company's overall revenue.

Strengths

Broad Capital Acquisition Corp demonstrated strong financial performance in the latest quarter. The company experienced significant revenue growth in its formation and operating costs segment, indicating successful business operations. Additionally, the increase in revenue from franchise tax suggests a favorable regulatory environment or improved compliance.

Challenges

Despite the overall positive performance, the company reported a loss from operations of $662,607 in the three months ended September 30, 2023, compared to a loss of $252,312 in the same period last year. This indicates that the company is still facing challenges in controlling its operating costs and achieving profitability.

Noteworthy

It is worth noting that Broad Capital Acquisition Corp generated a net income of $185,725 in the latest quarter, which is an improvement compared to a net loss of $202,445 in the same period last year. This positive turnaround in net income reflects the company's efforts to improve its financial performance.

Summary

Broad Capital Acquisition Corp delivered strong revenue growth in the latest quarter, driven by increased revenue in its formation and operating costs segment as well as franchise tax. Despite facing challenges in controlling operating costs, the company managed to achieve a net income, indicating progress towards profitability. Overall, Broad Capital Acquisition Corp's financial performance in the latest quarter demonstrates positive momentum and potential for future growth.

Source documents

Form 10-Q  filed on Nov 13, 2023
7 pages scanned

Reference data

Company financials Q3 revenue 0
Analyst estimates Q3 EPS missed by NaN%
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