Spetz Announces Results for the Three and Nine Months Ended September 30, 2024
In This Article:
TORONTO, ON / ACCESSWIRE / November 29, 2024 / SPETZ INC. (the "Company" or "Spetz") (CSE:SPTZ)(OTC PINK:DBKSF) today reported its financial results for the three and nine months ended September 30, 2024. All figures are in US Dollars.
Highlights:
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Total expenses decreased by 50.9% to US$1,889K for the nine months ended September 30, 2024, compared to US$3,848K for the Nine months ended September 30, 2023
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Net Loss for the period decreased by 57. 3% to US$1,079K for the nine months ended September 30, 2024, compared to US$2,527K for the nine months ended September 30, 2023.
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Adjusted EBITDA loss, as defined in the management discussion and analysis, decreased by 55.6% to US$492K for the nine months ended September 30, 2024, compared to US$1,108K for the nine months ended September 30, 2023.
"Our Q3 2024 financial results underscore our steadfast dedication to enhancing operational efficiency and building a robust infrastructure that allows us to drive meaningful improvements," said Yossi Nevo, CEO of Spetz Inc. "We have successfully reduced our expenses, evidenced by an impressive 56% decrease in adjusted EBITDA loss. Our committed teams are focused on ongoing cost management and revenue expansion, aiming to achieve positive cash flow. We thank our investors and everyone involved in our operations for their unwavering support."
For full financial information, notes, and management commentary, please refer to the Company's Management's Discussion and Analysis (MD&A) and the Consolidated Financial Statements as of September 30, 2024, posted on the Company's website and available on SEDAR. All financial information is provided in U.S. dollars unless otherwise indicated. In addition, all financial information provided herein is unaudited unless otherwise stated.
About Spetz Inc.
Spetz Inc. is a multinational technology company that operates Spetz, a global online, AI-powered marketplace platform that dynamically connects consumers to nearby top-rated service providers in around 30 seconds. Spetz is available in the USA, United Kingdom, Australia, and Israel. The Spetz vision is to reinvent how people around the world connect to services in their moment of need. Connecting them immediately with the top-matched service provider for any need, anytime, anywhere.
Spetz Website: www.spetz.app
Spetz Investor information: https://investor.spetz.app/
Company Contacts:
Investor Relations
Email: Investors@spetz.app
Phone: 647-956-6033
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