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WAVS Nasdaq· Western Acquisition Ventures Corp
Earnings report Q3 2023

Western Acquisition Ventures Corp. Reports Decrease in Revenue for the Latest Quarter

Segments of revenue

In the latest quarter, Western Acquisition Ventures Corp. reported a decrease in revenue compared to the same period last year. The company's revenue was $(253,633), a decline from the previous year's revenue of $237,150.

Strengths

Despite the decrease in revenue, Western Acquisition Ventures Corp. highlighted some strengths in their financial performance. The company's management attributed the decrease in revenue to professional fees and other expenses, as well as franchise tax. They emphasized that these expenses were necessary for the growth and development of the company.

Challenges

The financial performance of Western Acquisition Ventures Corp. in the latest quarter also revealed some weaknesses and challenges. The company reported a loss from operations of $(246,957), which was higher than the loss from the same period last year. Additionally, the company experienced a decrease in net income, with a loss of $(253,633) compared to a net income of $237,150 in the previous year.

Noteworthy

It is worth noting that Western Acquisition Ventures Corp. experienced a change in fair value of forward purchase agreement, resulting in a decrease in income before income taxes. This change had a significant impact on the company's overall financial performance for the quarter.

Summary

Western Acquisition Ventures Corp. faced challenges in the latest quarter, with a decrease in revenue and an increase in losses from operations. However, the company's management highlighted the necessary expenses incurred for growth and development. The change in fair value of forward purchase agreement also had a notable impact on the company's financial performance. Overall, Western Acquisition Ventures Corp. will need to address these challenges and focus on strategies to improve their revenue and profitability in the future.

Source documents

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

Reference data

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