As of June 30, 2024, AiAdvertising, Inc. reported total current assets of $1,075,163, a significant increase from $687,225 at the end of 2023. Total assets rose to $1,270,000, up from $936,794. Cash reserves saw a notable increase, climbing from $110,899 to $465,957. However, total current liabilities also increased to $2,281,237 from $2,181,139, leading to total liabilities of $2,375,105, up from $2,295,046. Shareholders’ equity improved, showing a deficit of $(1,105,105) compared to $(1,358,252) at the end of 2023.

In terms of revenue, AiAdvertising reported $2,307,729 for Q2 2024, an increase of $713,688 from $1,594,041 in Q2 2023. For the first half of 2024, total revenue reached $4,327,052, up from $3,768,793 in the same period of 2023. The revenue breakdown indicated growth in design revenue to $877,055 from $550,933, and digital marketing revenue increased to $3,027,648 from $2,922,620. However, gross profit for Q2 2024 was $(152,137), an improvement from $(359,895) in Q2 2023, while the first half of 2024 showed a gross profit of $71,913, down from $159,408 in 2023.

The company reported a net loss of $(1,463,025) for Q2 2024, a decrease from $(1,890,223) in Q2 2023. For the first half of 2024, the net loss was $(3,323,834), compared to $(2,773,511) in the prior year. The loss from operations for the first half of 2024 was $(3,319,936), slightly higher than $(3,208,537) in 2023.

Cash flow used in operating activities improved to $(2,144,941) for the first half of 2024, compared to $(3,245,612) in 2023. However, proceeds from the sale of preferred stock decreased to $2,500,000 from $5,000,000 in the previous year. The company also recorded an impairment of $20,202 related to the domain name "CLOUDCOMMERCE.COM."

Strategically, AiAdvertising is focusing on raising additional capital and enhancing sales from its data sciences, creative, website development, and digital advertising services to address ongoing financial challenges. The company continues to face substantial doubt regarding its ability to continue as a going concern, relying on capital sales or borrowing to fund operations. As of June 30, 2024, the company reported negative working capital of $1,206,074 and acknowledged that its current cash is insufficient to sustain operations for approximately 12 months without further financing.