on ALT5 Sigma Corp
ALT5 Sigma Announces Record Financial Results for Q3 2024
ALT5 Sigma Corporation (NASDAQ:ALTS), a fintech company specializing in blockchain technologies, has reported record financial results for its third fiscal quarter ending September 28, 2024. The company achieved a revenue of $4.94 million, marking a significant success as this represents nearly half of the previous year's total revenue. The fintech segment's gross margin remains close to 50%, indicating strong financial performance.
CEO Peter Tassiopoulos emphasized the robust customer onboarding in Q3 and ongoing demand for ALT5's solutions. This positive traction aligns with their plans to expand both services and geographic presence in anticipation of new opportunities in Q4 2024 and beyond.
ALT5 Sigma also aims to finalize the organizational separation of its biotech business, Alyea Therapeutics, in the first half of 2025. This separation strategy is intended to reduce shareholder dilution and leverage the fintech division's free cash flow for future growth. The company's cash position stands robust at $8.67 million.
R. P.
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