NXT Energy Reports Q1 Financial Challenges

NXT Energy Solutn (TSE:SFD) has released an update.

NXT Energy Solutions reported their Q1 2024 results, highlighting a net loss of $1.79 million and revenues of $0.60 million from their SFD® surveys. The company extended its aircraft lease with ownership at the term’s end and entered a sales agency agreement in the UAE. Financial struggles persist as indicated by a decrease in net working capital and an increase in general and administrative expenses.

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