Dalrada Financial Corporation reported QQ3 2024 with topline revenue of $10.31 million, up 8.8% year-over-year, aided by a broadening services footprint. However, the quarter delivered a material operating loss of $2.29 million and a net loss of $2.88 million, driven by a substantial fixed cost base and elevated working capital dynamics. EBITDA remained negative at roughly $2.30 million, underscoring earnings quality challenges despite improving gross margins (â45.7%). The company also experienced meaningful cash burn, with operating cash flow of about -$2.18 million and free cash flow of about -$2.16 million, contributing to a tight liquidity posture and a modest cash balance of ~$0.53 million at quarter end. These factors highlight a bifurcated trajectory: on one hand, revenue growth signals demand momentum or client expansion; on the other hand, profitability and liquidity pressures demand disciplined cost management and working capital optimization to regain operating leverage.