Business
EarthLabs Reports Results For The Second Quarter of 2024
1,119.9% increase in total revenue for the three months ended June 30, 2024 as compared to the th...
About this update from Earthlabs Inc
[{"type":"text","content":"EarthLabs Reports Results For The Second Quarter of 20241,119.9% increase in total revenue for the three months ended June 30, 2024 as compared to the three months ended June 30, 2023; 384.3% increase in advertising revenue as compared to Q2 2023 with advertising revenue of $2,860,470 for the six-months period ended June 30, 2024 (162.7% increase);41.3% increase in subscriptions revenue as compared to Q2 2023 with subscription revenue of $604,607 for the six-months period ended June 30, 2024 (39.6% increase);Ended the quarter with total cash, cash equivalents, and investments of $44,373,956.Toronto, Ontario--(Newsfile Corp. - August 9, 2024) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0) (\"EarthLabs\" or the \"Company\") is pleased to announce the unaudited consolidated financial results for three and six months ended June 30, 2024 of the Company (the \"Financial Results\").Highlights for the three-months period ended June 30, 2024:Advertising revenue of $1,444,784 as compared to $298,320 for the three months ended June 30, 2023, an increase of 384.3%; Subscription revenue of $300,734 as compared to $212,772 for the three months ended June 30, 2023, an increase of 41.3%;Net investment loss of $427,144 from our investment portfolio as compared to $693,821 for the three months ended June 30, 2023; Net loss and comprehensive loss of $1,962,457 (basic loss per share of $0.01) as compared to $1,801,140 (basic loss per share of $0.01) for the three months ended June 30, 2023. Highlights for the six-months period ended June 30, 2024:Completed the six-month period with total cash and cash equivalents, due from brokers, investments and equity investments of $44,373,956 as compared to $42,943,109 as at December 31, 2023;Advertising revenue of $2,860,470 as compared to $1,088,814 for the six months ended June 30, 2023, an increase of 162.7%; Subscription revenue of $604,607 as compared to $433,023 for the six months ended June 30, 2023, an increase of 39.6%;Net investment gains of $2,883,228 from our investment portfolio as compared to $2,734,954 for the six months ended June 30, 2023; Net loss and comprehensive loss of $356,571 (basic loss per share of $0.00) as compared to net income and comprehensive income of $464,791 (basic earnings per share of $0.00) for the six months ended June 30, 2023. \"EarthLabs' Q2 2024 results hig...