As of September 30, 2024, Ezagoo Ltd reported total assets of $248.8 million, a decrease from $319.1 million as of December 31, 2023. Current assets also fell to $243.2 million from $297.5 million, while total non-current assets saw a significant decline to $5.6 million from $21.6 million. Current liabilities increased to $3.8 billion, up from $3.5 billion, contributing to a worsening total stockholders’ deficit of $(3.6 billion), compared to $(3.1 billion) at the end of the previous fiscal year.
In terms of revenue, Ezagoo Ltd generated $41.5 million for the three months ended September 30, 2024, a notable increase from $23.7 million during the same period in 2023. However, for the nine months ended September 30, 2024, revenues totaled $105.7 million, down from $137.5 million in the prior year. The gross loss for the three months ended September 30, 2024, improved to $(1.4 million) from $(37.0 million) in 2023, while for the nine-month period, gross profit turned positive at $1.3 million compared to a gross loss of $(63.6 million) in the previous year.
Operating losses also decreased, with a loss of $(145.2 million) for the three months ended September 30, 2024, compared to $(202.2 million) in 2023. For the nine months, the operating loss was $(432.4 million), down from $(688.6 million) in the prior year. Loss before income tax for the three months was $(145.1 million), an improvement from $(234.8 million) in 2023, while for the nine months, it decreased to $(396.9 million) from $(775.6 million).
Net losses for the three months ended September 30, 2024, were $(145.1 million), compared to $(234.8 million) in the same period of 2023. For the nine months, the net loss was $(396.9 million), down from $(775.6 million) in the previous year. Comprehensive losses for the three months increased to $(270.8 million) from $(225.7 million) in 2023, while for the nine months, comprehensive losses decreased to $(443.0 million) from $(621.0 million).
Cash and cash equivalents at the end of the period were $207.8 million, down from $275.2 million a year earlier. Net cash used in operating activities for the nine months was $(287.9 million), a significant improvement from $(847.9 million) in 2023. Conversely, net cash provided by financing activities decreased to $228.5 million from $666.9 million in the prior year.
About Ezagoo Ltd
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