DatChat, Inc. has reported its financial results for the fiscal year ending December 31, 2024, revealing a net loss of $5,025,007, a significant reduction from the previous year's loss of $8,404,970. The company generated revenues of $436, a slight decline from $672 in 2023. Operating expenses decreased by 39.9% to $5,281,339, down from $8,784,703 in the prior year, primarily due to reductions in compensation and related expenses, marketing, and research and development costs. The decrease in operating expenses reflects the company's ongoing efforts to streamline operations and reduce costs.
In terms of strategic developments, DatChat has made notable changes, including the acquisition of RPM Interactive, Inc. in October 2024, which has shifted its focus to AI-generated content and mobile gaming applications. The company has also launched its Myseum platform, aimed at providing secure digital content management and storage solutions. As of March 26, 2025, DatChat reported a total of 4,276,274 shares of common stock outstanding, with a market value of approximately $2.73 million as of June 28, 2024.
Operationally, DatChat has seen a decrease in its employee headcount, with 10 full-time employees reported as of March 26, 2025. The company continues to face challenges in building a strong customer base, as indicated by its limited revenue generation since inception. The filing notes that the company has not yet developed a sustainable revenue model and anticipates ongoing operating losses as it invests in product development and marketing.
Looking ahead, DatChat's management has expressed cautious optimism regarding future growth, supported by recent capital raises, including a securities purchase agreement that generated approximately $5.1 million in January 2025. The company plans to utilize these funds for general corporate purposes, including sales and marketing efforts, as well as further development of its product offerings. However, the company acknowledges the risks associated with its business model, including competition in the mobile messaging and social media markets, and the need for continuous innovation to meet evolving consumer demands.
About DatChat, Inc.
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