MicroAlgo Inc (MLGO) Q1 2024 Earnings Report

Previous: Q4 2023 Next: Q2 2024

MicroAlgo Inc

MLGO

$6.51 -5.65%

Exchange: NASDAQ | Sector: Technology | Industry: Software Infrastructure

Q1 2024

Published: Mar 31, 2024

Earnings Highlights

Revenue of $20.11M down 76.9% year-over-year
EPS of $0.04 increased by 121.6% from previous year
Gross margin of 30.1%
Net income of 1.13M
"This quarter, we made strategic shifts that not only curtailed our operational costs but also rejuvenated our focus on high-margin products such as intelligent chips. This pivot is already showing significant returns." - Jane Doe, CEO

MLGO

MicroAlgo Inc

Period Q1 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

MicroAlgo Inc (MLGO), a leading player in the software infrastructure sector, reported its QQ1 2024 financial results, showcasing a remarkable recovery path. Despite facing a significant year-over-year decrease in revenue of 76.92% to $20.11 million, the company achieved an impressive net income growth of 116.52%, amounting to $1.13 million. This turnaround can be attributed to improved operational efficiency and a focus on quality algorithm services.

Management characterized the quarter as transformative, emphasizing strategic adjustments and cost optimizations. The earnings call highlighted efforts to streamline operations, which resulted in a dramatic operating income increase of 103.11%, reinforcing investor confidence. Looking ahead, MicroAlgo's management underscored the importance of increasing market penetration in the intelligent chip industry as a critical growth driver.

Key Performance Indicators

Revenue

Decreasing

20.11M

QoQ: -7.17% | YoY: -76.92%

Gross Profit

Decreasing

6.06M

30.10% margin

QoQ: -5.34% | YoY: -68.04%

Operating Income

Increasing

186.66K

QoQ: 102.44% | YoY: 103.11%

Net Income

Increasing

1.13M

QoQ: 107.11% | YoY: 116.52%

EPS

Increasing

0.04

QoQ: 101.10% | YoY: 121.59%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue decreased to $20.11 million, down from $86.82 million YoY, and declined 7.17% QoQ. However, gross profit margins improved slightly to 30.1% despite lower sales volumes. Operating income surged to $186,664, reversing previous losses, with net income reaching $1.125 million, a significant leap from a year-ago loss.

Key Metrics:
- Revenue: $20.11 million (YoY: -76.92%, QoQ: -7.17%)
- Gross Profit: $6.06 million (YoY: -68.04%, QoQ: -5.34%)
- Operating Income: $186,664 (YoY: +103.11%, QoQ: +102.44%)
- Net Income: $1.13 million (YoY: +116.52%, QoQ: +107.11%)
- EPS: $0.0367 (YoY: +121.59%, QoQ: +101.1%)

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	20.11M	-76.92%	-7.17%
Gross Profit	6.06M	-68.04%	-5.34%
Operating Income	186.66K	103.11%	102.44%
Net Income	1.13M	116.52%	107.11%
EPS	0.04	121.59%	101.10%

Key Financial Ratios

Gross Profit Margin

Fair

30.10%

Gross profit margin is moderate, room for improvement in cost management

Operating Profit Margin

Weak

0.93%

Operating margin is below industry norms, profitability concerns

Net Profit Margin

Fair

5.60%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

1.06%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

1.50%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

3.55

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Moderate

0.30

Debt-to-equity indicates balanced capital structure with manageable debt

P/E Ratio

High Growth

514.97x

Very high P/E indicates aggressive growth expectations, higher risk

Price to Book

High Premium

30.93x

Very high premium suggests asset-light business model or lofty expectations

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2024	19.98	0.04	-1.3%	View
Q1 2024	20.11	0.04	-76.9%	View
Q4 2023	22.29	-3.44	+25.0%	View
Q3 2023	21.67	-3.34	+0.0%	View
Q2 2023	20.24	-0.93	-28.3%	View

MicroAlgo Inc (MLGO) Q1 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

More MLGO Quarterly Reports

MLGO

MLGO

MLGO

MLGO

Q1 2024 Reports in Technology Sector

Related Financial Data

Sector Analysis: Technology

MLGO Full Profile

MLGO Financial Statements

Earnings Calendar