sur Wi2Wi Corporation (CVE:YTY)
Wi2Wi Corporation Reveals FY 2024 Financial Results
Wi2Wi Corporation has disclosed its financial outcomes for the full year ending December 31, 2024. The company reported annual revenue of $6.31 million, remaining nearly constant compared to the previous year. Although revenue in Q4 decreased by 8% to $1.41 million, gross margin improved to 14%, up from 12% in 2023.
The firm recorded a net loss of $1.34 million for the year, with Q4 contributing $615,000 to this figure. Despite these losses, Wi2Wi strengthened its strategic direction by focusing on its Frequency Control segment. In response to operational challenges, a private placement raised $600,000 for working capital.
CEO Ted Clark highlighted strategic progress in 2024, emphasizing resource allocation towards long-term growth areas. Looking forward, Wi2Wi aims to capitalize on a growing pipeline, enhancing its presence in sectors like avionics and medical equipment.
R. E.
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