Quarterly metrics (USD, all figures in thousands unless noted):
- Revenue: $1,846; YoY +5.49%, QoQ -4.20%
- Gross Profit: $902; Gross Margin 48.86%; YoY +3.20%, QoQ +3.92%
- Operating Income: -$154; Operating Margin -8.34%; YoY improvement (large negative to less negative), QoQ improvement of ~40.8%
- Net Income: -$146; Net Margin -7.91%; EPS -$0.0006
- EBITDA: -$106; EBITDA Margin -5.74%
- Weighted Avg Shares: 225,032,000; EPS Diluted: -$0.0006
- Cash from Operating Activities: $269; Free Cash Flow: $254
- Cash and Equivalents (period end): $1,105
- Deferred Revenue (June 30, 2024): $647
- Balance Sheet: Total Assets $3,825; Total Liabilities $997; Stockholders’ Equity $2,828; Goodwill $1,356
- Current Ratio / Quick Ratio: 2.43x; Cash Ratio: 1.108x
- Net Debt: -$1,105 (cash net of debt)
- Liquidity context: No long-term debt reported; operating cash flow supports modest reinvestment in selling/marketing per management commentary.
Key takeaway: QQ3 2024 marks a stabilization point in cash generation with ongoing top-line scaling modestly, while profitability remains constrained by OpEx and a small base. The Enclave/growth narrative and vCISO market tailwinds suggest significant optionality if the company can convert pipeline into recurring software revenue.