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KNW NYSE AM· Know Labs Inc.
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KNW NYSE AM· Know Labs Inc.
Earnings report Q4 2023

Know Labs, Inc. Reports Declining Revenue in Latest Quarter

Segments of Revenue

Know Labs, Inc. reported a decline in revenue for the latest quarter. The company's revenue segments include research and development expenses and selling, general, and administrative expenses. In the three months ended December 31, 2023, research and development expenses amounted to $1.49 million, while selling, general, and administrative expenses totaled $2.01 million.

Strengths

Despite the decline in revenue, Know Labs, Inc. has shown strength in managing its operating expenses. The company was able to reduce its research and development expenses from $1.74 million in the previous year to $1.49 million in the latest quarter. This reduction in expenses demonstrates the company's commitment to cost control and efficiency.

Challenges

The main weakness for Know Labs, Inc. in the latest quarter was the decline in revenue. The company's total operating expenses remained relatively stable compared to the previous year, but the decrease in revenue resulted in a higher operating loss. This indicates a potential challenge in generating sufficient revenue to cover expenses and achieve profitability.

Noteworthy

It is worth noting that Know Labs, Inc. did not report any income tax expense in the latest quarter. This suggests that the company may have utilized tax credits or deductions to offset its taxable income. Additionally, the company incurred interest income of $51,010 and interest expense of $227,170 in the previous year, but no interest income or expense was reported in the latest quarter. This change in interest income and expense may be attributed to the company's financial management decisions.

Summary

Know Labs, Inc. faced a challenging quarter with declining revenue and an increased operating loss. However, the company demonstrated strength in managing its research and development expenses, showcasing its commitment to cost control. The absence of income tax expense and changes in interest income and expense indicate potential financial management decisions that may have impacted the company's performance. Going forward, Know Labs, Inc. will need to focus on revenue generation to overcome its current challenges and achieve profitability.

Source documents

Form 10-Q  filed on Feb 14, 2024
98 pages scanned

Reference data

Company financials Q4 revenue 0
Analyst estimates Q4 EPS missed by NaN%
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