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SGD Nasdaq· Safe and Green Development Corp
Earnings report Q3 2023

SGD Reports Increase in Revenue for the Latest Quarter

Segments of revenue

SGD's revenue for the latest quarter showed growth across different segments. The breakdown of segment revenues is as follows:

  • Revenue from operations: SGD reported revenue from operations of $902.49 thousand for the nine months ended September 30, 2023, compared to $537.81 thousand for the same period in 2022. This represents a significant increase of $364.68 thousand or 67.8%. The increase in revenue can be attributed to additional efforts in personnel and increased salaries of employees.

Strengths

SGD demonstrated strength in its revenue performance for the latest quarter. The company experienced a substantial increase in revenue from operations, indicating growth and improved business performance. The additional efforts of personnel and increased salaries of employees contributed to this positive outcome.

Challenges

Despite the increase in revenue, SGD faced challenges in terms of expenses allocated to them by SG Holdings. The company incurred additional costs during the quarter, including legal fees, professional fees, rent, office expenses, insurance, and other general and administrative expenses. These expenses amounted to $902.49 thousand for the nine months ended September 30, 2023, compared to $537.81 thousand for the same period in 2022. This represents an increase of $364.68 thousand or 67.8%. The substantial costs associated with the Separation and Distribution also contributed to the increase in expenses.

Noteworthy

SGD's revenue growth for the latest quarter is noteworthy, considering the challenges posed by increased expenses. The company's ability to generate higher revenue from operations demonstrates its resilience and potential for future growth. However, it is important to note that the company's operations for the nine months ended September 30, 2023, may not be indicative of its future operations.

Summary

SGD reported a significant increase in revenue from operations for the latest quarter. The company's revenue grew by $364.68 thousand or 67.8% compared to the same period in the previous year. This growth can be attributed to additional efforts in personnel and increased salaries of employees. Despite the positive revenue performance, SGD faced challenges in terms of increased expenses allocated to them by SG Holdings, including costs related to the Separation and Distribution. Overall, SGD's revenue growth showcases its potential for future success, but it is important to monitor the impact of expenses on the company's financial performance.

Source documents

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

Reference data

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