Revenue and profitability: Q4 2023 revenue = $782,710; Cost of revenue = $938,207; Gross profit = -$155,497; Gross margin = -19.87%. Operating expenses (selling, SG&A, etc.) totaled $3,490,598, yielding an operating loss of $2,707,888 and an operating margin of -3.46%. EBITDA = -$2,668,567 with an EBITDA margin of approximately -341% relative to revenue. Net income = -$2,573,051; net margin = -3.29%; EPS = -$2.71 (diluted).
Cash flow and liquidity: Net cash provided by operating activities = -$1,900,900. Free cash flow = -$1,882,266. Cash at end of period = $1,373,101; cash at beginning = $3,280,425. Capital expenditures (capex) = $18,630; change in working capital contributed to cash burn (accounts receivable -$378,076; inventory +$281,230; accounts payable +$675,112; other working capital -$124,223; overall working capital change = +$454,043).
Quarterly trend (2023): Q4 revenue of $782,710 vs Q3 revenue of $648,607 shows QoQ growth of roughly 20.7%, but gross margin deteriorated meaningfully from Q3’s marginal positive/micro-margin level to a substantial negative in Q4. QoQ EPS moved from approximately -$2.63 in Q3 to -$2.71 in Q4.