Streamex Q3 net loss widens on higher expenses
STEX•Streamex's third-quarter net loss widened to $17.46 million as operating expenses reached $18.12 million. It ended the quarter debt-free with $36.5 million in total liquidity and aims to reduce monthly cash burn to $1.1 million-$1.3 million in Q4.
1. Quarterly results
Streamex reported a third-quarter net loss of $17.46 million, with total operating expenses of $18.12 million. Higher expenses were driven mainly by increased non-cash stock-based compensation and legal and product development costs.
2. Liquidity and outlook
The company ended Q3 debt-free with a $36.5 million total liquidity position. It aims to reduce monthly operating cash burn from $1.5 million to $1.1 million-$1.3 million in Q4.
3. GLDY growth
Gold backing GLDY rose to 3,351 ounces from 3,111, while GLDY assets under management increased 12% in Q3 and external ownership doubled. Streamex said it plans to support the public launch of USGY and report its contribution to GLDY assets under management.
