Crown Electrokinetics Corp. ( (CRKN) ) has released its Q3 earnings. Here is a breakdown of the information Crown Electrokinetics Corp. presented to its investors.
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Crown Electrokinetics Corp. is a leading provider of innovative technology infrastructure solutions, focusing on Smart Windows, Fiber Optics, and Water Solutions to benefit communities and the environment. In its third quarter of 2024, Crown reported a record revenue of $8.0 million, reflecting strong demand across its business divisions. This growth is attributed to recent project wins in areas such as lead pipe identification, slant well installations, and fiber optic network construction. The company has made significant strides in securing major contracts, including $33 million in lead pipe remediation and fiber optic network agreements in Oregon and Nevada. Despite a net loss of $5.9 million for the quarter, Crown’s increased revenue and strategic initiatives position it for growth. Looking ahead, Crown remains confident in achieving its revenue guidance of $9 million for the fourth quarter and $22 million for the full year 2024, with projections of reaching profitability in 2025.
