Eguana Technologies (TSE:EGT) has released an update.
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Eguana Technologies reports a second quarter revenue drop to $0.7 million in 2024, from $2.1 million in the same quarter of 2022, attributing the decline to a slow recovery in the residential solar market. Despite this, the company achieved a stronger gross margin of 10% and reduced its operating loss to $2.1 million from $4.1 million the previous year due to significant cost-cutting measures, including personnel reductions.
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