Hyperscale Data Inc. Reports Q3 2024 Financial Results

Ault Alliance, Inc. ( (GPUS) ) has released its Q3 earnings. Here is a breakdown of the information Ault Alliance, Inc. presented to its investors.

Hyperscale Data, Inc., formerly known as Ault Alliance, Inc., is a diversified holding company engaged in acquiring and developing undervalued businesses and disruptive technologies across various sectors, including data centers, crypto mining, and real estate. For the quarter ending September 30, 2024, the company reported a significant reduction in total revenue to $31.1 million compared to $43.1 million in the same quarter of 2023, attributed mainly to a decrease in product revenue. Despite high operating expenses and impairments, the company managed to post a net loss of $29.6 million, slightly improved from the previous year’s loss of $28.1 million. Key financial metrics reveal the company’s ongoing challenges, including a substantial decline in stockholders’ equity from $56.7 million to $2.2 million over nine months, driven by operating losses and capital expenditures. Looking ahead, Hyperscale Data’s management anticipates raising additional capital through equity and debt offerings to sustain operations, although they acknowledge the uncertainty surrounding availability and terms of such financing.