Investview, Inc. reported significant financial changes for the three and nine months ended September 30, 2024, compared to the same periods in 2023. Total revenue for Q3 2024 was $11.7 million, a decrease of 39% from $19.2 million in Q3 2023. Subscription revenue fell to $11.2 million, down 31% year-over-year, attributed to global inflation affecting sales in the direct sales and home-based business sectors. Mining revenue also saw a substantial decline, dropping 80% to $567,415, influenced by the Bitcoin Halving event, increased network difficulty, and power curtailments in Iceland.

For the nine-month period, total revenue decreased by 19% to $40.5 million, with subscription revenue at $36.2 million, down 13%, and mining revenue at $4.3 million, down 45%. The decline in mining revenue was similarly linked to the aforementioned market conditions, while cryptocurrency revenue was non-existent in 2024 due to the discontinuation of NDAU package distribution.

Operating costs for Q3 2024 were $12.4 million, a reduction of 26% from $16.9 million in Q3 2023, primarily due to a $3 million decrease in commissions and a $1.9 million reduction in costs related to sales and services. However, the company recorded an impairment expense of $977,418 for data processing equipment, which was not present in the prior year. For the nine months, operating costs decreased by 16% to $38.9 million, driven by lower commissions and costs of sales.

Net income for Q3 2024 was a loss of $810,648, contrasting with a profit of $2 million in Q3 2023. For the nine months, net income was $1.4 million, down from $3 million in the previous year. The company’s cash and cash equivalents increased to $24.5 million as of September 30, 2024, compared to $20.9 million at the end of 2023.

Strategically, Investview completed the acquisition of Renu Laboratories, Inc. for $1.78 million in October 2024, issuing stock options as part of the deal. The company also agreed to repurchase 121 million shares of its common stock, representing approximately 6.5% of outstanding shares, with payments scheduled in ten equal quarterly installments. Additionally, ongoing litigation seeks to recover approximately $1.87 million in withheld credit card receivables, which could impact net earnings if not resolved favorably.

Overall, the company continues to navigate challenging market conditions while pursuing strategic acquisitions and managing operational costs.