Mynd Announces 2024 First Half Results
Mynd.ai, Inc. American Depositary Shares (MYND)
US:NASDAQ Investor Relations:
ir.stockpr.com/myndanalytics
Company Research
Source: PR Newswire
Gross Margins Increased 100 Basis Points to 27.3%; Adjusted EBITDA loss improved by $0.6 million SEATTLE, Aug. 29, 2024 /PRNewswire/ -- Mynd.ai, Inc. (the "Company" or "Mynd") (NYSE American: MYND) today announced financial results for the first half of 2024 (H1 2024).H1 2024 Key Financial MilestonesRevenue of $166.0 million compared to $222.5 million for the same period in the prior year, with the decrease primarily driven by reduced spending by key customers due to uncertainty regarding future budget allocationsGross profit of $45.4 million, a 22.4% decline from $58.5 million in the same period in the prior year, driven by the year-over-year reduction in revenue. Gross margins increased 100 basis points to 27.3% primarily as a result of increased operational efficienciesCash flow from operations improvement of $5.0 million compared to the same period in the prior year, with cash reserves of $69.4 millionAdjusted EBITDA loss of $5.6 million compared to a loss of $6.1 million for the
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Sec Filings
- 8/29/24 - Form 6-K
- 8/28/24 - Form 6-K
- 7/29/24 - Form EFFECT
- MYND's page on the SEC website