Myndai (MYND) has released an update.
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Mynd.ai, Inc. reported H1 2024 financial results, showing a revenue drop to $166.0 million from $222.5 million the previous year, attributed to decreased customer spending amidst budget uncertainties. Despite the decline, the company improved gross margins by 100 basis points to 27.3% due to operational efficiencies, and reduced its Adjusted EBITDA loss to $5.6 million from $6.1 million. As they navigate market challenges, Mynd.ai remains focused on maintaining market leadership in the global education technology sector.
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