KonaTel, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 20, 2023 at 04:01 pm EST
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KonaTel, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 4.69 million compared to USD 5.88 million a year ago. Net loss was USD 0.113216 million compared to USD 1.35 million a year ago.
For the nine months, sales was USD 13.32 million compared to USD 15.23 million a year ago. Net loss was USD 2.25 million compared to USD 2.87 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to USD 0.07 a year ago.
KonaTel, Inc. is a voice/data communication holding company. The Company provides a variety of retail and wholesale telecommunications services, including mobile voice/text/data service supported by national United States mobile networks, mobile numbers, short message service and multimedia message service services, Internet of Things (IoT) mobile data service, and a range of hosted cloud services. Its segments include Hosted Services and Mobile Services. Its subsidiary, Apeiron Systems, Inc. (Apeiron), is a global cloud communications service provider employing a dynamic as a service (CPaaS/UCaaS/CCaaS/PaaS) platform. Apeiron provides voice, messaging, SD-WAN, and platform services using its national cloud network. All Apeironâs services can be accessed through interfaces and communications APIs. Its other subsidiary, Infiniti Mobile, is a wireless lifeline carrier. Infiniti Mobile provides government-subsidized cellular service to low-income American families.