Minim, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
November 13, 2023 at 06:31 am EST
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Minim, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 7.19 million compared to USD 12.86 million a year ago. Net loss was USD 5.6 million compared to USD 4.43 million a year ago. Basic loss per share from continuing operations was USD 2.96 compared to USD 2.39 a year ago. Diluted loss per share from continuing operations was USD 2.96 compared to USD 2.39 a year ago.
For the six months, sales was USD 17.95 million compared to USD 26.16 million a year ago. Net loss was USD 9.67 million compared to USD 6.97 million a year ago. Basic loss per share from continuing operations was USD 5.13 compared to USD 3.77 a year ago. Diluted loss per share from continuing operations was USD 5.13 compared to USD 3.77 a year ago.
Minim, Inc. is a networking company. The Company delivers intelligent software to protect and improve the WiFi connections. Its cable and WiFi products, with an intelligent operating system and bundled mobile application, are sold in retailers and e-commerce channels in the United States (U.S.). Its artificial intelligence (AI)-driven cloud software platform and applications make network management and security simple for home and business users, as well as the service providers. Its hardware portfolio includes cable modems, cable modem/routers, mobile broadband modems, wireless routers, Multimedia over Coax Alliance (MoCA) adapters, and mesh home networking devices. Its SaaS platform includes mobile applications, a Web application, API suites, and an open-source embedded agent for networking devices. Modems and modem/routers (gateways) are devices, which converts cable service into Internet connectivity for ethernet-only connection (modems) or ethernet and wireless connections.