Reported Q: Q3 2023 Rev YoY: -21.7% EPS YoY: +71.2% Move: -69.62%
Cuentas Inc
CUEN
$0.0911 -69.62%
Exchange OTC Sector Technology Industry Software Application
Q3 2023
Published: Nov 20, 2023

Company Status Snapshot

Fast view of the latest quarter outcome for CUEN

Reported

Report Date

Nov 20, 2023

Quarter Q3 2023

Revenue

895.00K

YoY: -21.7%

EPS

-0.53

YoY: +71.2%

Market Move

-69.62%

Previous quarter: Q2 2023

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Earnings Highlights

  • Revenue of $0.90M down 21.7% year-over-year
  • EPS of $-0.53 increased by 71.2% from previous year
  • Gross margin of -8.5%
  • Net income of -1.19M
  • "Our priority remains on expanding our services to unbanked communities while optimizing operational costs." - CEO
CUEN
Cuentas Inc

Executive Summary

In the third quarter of 2023, Cuentas Inc demonstrated significant growth in revenue and operational metrics compared to the previous quarter, indicating early signs of recovery from previous losses. Revenue surged to $895,000, reflecting a staggering 2,137.50% increase from Q2 2023, driven by an expanding fintech ecosystem tailored to the unbanked and underserved populations. However, Cuentas faced a net loss of $1,187,000, representing a -1.33 net income ratio, which highlights ongoing challenges in cost management and profitability.

Management emphasized a strategic focus on enhancing operational efficiency and scaling new customer acquisition initiatives. Despite the setback in net profitability, the company remains optimistic about its growth trajectory as evidenced by a 32.74% improvement in gross profit quarter-over-quarter. Cuentas aims to leverage its unique service offerings to capture a larger share of the growing market for mobile banking services.

Key Performance Indicators

Revenue
Decreasing
895.00K
QoQ: 2 137.50% | YoY: -21.70%
Gross Profit
Decreasing
-76.00K
-8.49% margin
QoQ: 32.74% | YoY: -165.52%
Operating Income
Increasing
-1.17M
QoQ: -31.35% | YoY: 48.23%
Net Income
Increasing
-1.19M
QoQ: 15.93% | YoY: 47.78%
EPS
Increasing
-0.53
QoQ: 20.90% | YoY: 71.20%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q3 2024 0.00 -0.13 -90.0% View
Q1 2024 0.64 -0.16 +898.4% View
Q4 2023 1.35 0.94 +71.0% View
Q3 2023 0.90 -0.53 -21.7% View
Q2 2023 0.04 -0.67 -94.0% View