Elmet Group swings to Q2 net loss of USD 4.49 million; revenue rises 35.2% to USD 66.4 million - ELMT News | RalliesElmet Group swings to Q2 net loss of USD 4.49 million; revenue rises 35.2% to USD 66.4 million
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ELMT• Expenses and cash position
- General and administrative expense surged to USD 17.78 million from USD 4.02 million, driven by USD 10.3 million of stock-based compensation.
- Cash jumped to USD 66.12 million from USD 1.76 million, reflecting USD 125.36 million of net IPO proceeds.
Q2 results swing to loss as revenue rises
- The Elmet Group posted a net loss of USD 4.49 million, swinging from profit; revenue rose 35.2% to USD 66.4 million.
- Operating loss widened to USD 7.63 million from operating income; gross profit climbed 63.7% to USD 16.61 million.
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