Onfolio reports Q2 EPS (26c) vs (56c) last year

Reports Q2 revenue $1.31M vs $357.822M last year. “We made significant progress in reducing our sequential cash burn in the second quarter by 35%, as cash burn improved from approximately $940,000 in the first quarter, excluding one-time costs related to the Contentellect acquisition, to approximately $600,000 in the second quarter,” commented Onfolio CEO Dominic Wells. “There were cross-trends in some line items on the income statement that may mask this trend, along with a $189,000 impairment charge for a write-down in some of our smaller assets, but this is the main takeaway from our second quarter financial performance. This is consistent with comments from the first quarter regarding some one-time items and carryover expenses from 2022 being absent in subsequent quarters.”