Minim, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
January 08, 2024 at 07:31 am EST
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Minim, 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 6.7 million compared to USD 13.83 million a year ago. Net loss was USD 6.82 million compared to USD 4.06 million a year ago. Basic loss per share from continuing operations was USD 3.61 compared to USD 2.18 a year ago. Diluted loss per share from continuing operations was USD 3.61 compared to USD 2.18 a year ago.
For the nine months, sales was USD 24.64 million compared to USD 40 million a year ago. Net loss was USD 16.49 million compared to USD 11.03 million a year ago. Basic loss per share from continuing operations was USD 8.74 compared to USD 5.95 a year ago. Diluted loss per share from continuing operations was USD 8.74 compared to USD 5.95 a year ago.
Minim, Inc. is a networking company, which designs, manufactures, and sells consumer networking products under the Motorola brand. Its cable and wireless fidelity (WiFi) products, with an intelligent operating system and bundled mobile application, is a retailer and e-commerce channel in the United States. The Company delivers intelligent software to protect and improve the WiFi connections it depends on to work, learn and live. The Company's 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 software as a service (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 (modem/routers).