Enwave Corp (TSE:ENW) has released an update.
EnWave Corporation experienced a significant 86% decrease in revenues for Q2 2024 compared to the same quarter last year, largely due to fewer sales and production of their Radiant Energy Vacuum machines. Despite this setback, royalty revenues saw a 30% increase over the six-month period ending March 31, 2024, driven by higher partner product sales. The company also managed a 10% reduction in SG&A expenses for the first half of the year, maintaining efforts to control discretionary spending amidst challenging market conditions.
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