TRANS LUX Corp reported a net loss of $3.1 million for the nine months ended September 30, 2024, an increase from a net loss of $2.6 million during the same period in 2023. Total revenues for the company decreased by 23.7%, amounting to $8.8 million compared to $11.5 million in the prior year. This decline was primarily driven by a significant drop in digital product sales, which fell to $8.2 million, down 24.3% from $10.8 million in 2023. Additionally, revenues from digital product lease and maintenance also saw a decrease, totaling $0.6 million, a 14.8% decline from $0.7 million in the previous year.

The total operating loss for the nine-month period was $2.5 million, worsening from an operating loss of $1.9 million in 2023. The company's working capital deficiency increased to $17.0 million as of September 30, 2024, up from $13.9 million at the end of 2023. Cash, cash equivalents, and restricted cash decreased to $276,000, down from $385,000 at the end of the previous fiscal year.

Despite the overall financial challenges, net interest expense decreased by $71,000, or 13.6%, compared to the same period in 2023. As of September 30, 2024, TRANS LUX Corp had outstanding long-term debt of $2.2 million under a loan agreement that matured on December 31, 2023, and the company is currently in default on this obligation. Future minimum lease payments due to the company under operating leases are reported at $992,000 as of the same date.