EarningsSociety Pass reported fiscal Q2 2024 revenue of $1.7 million, which was 22% lower year-over-year and missed both estimates and consensus.
Financial PerformanceAt the end of June, SOPA had only $0.8 million in unrestricted cash, necessitating a capital raise by the end of 3Q24.
ValuationSOPA trades at an EV/2025E revenue multiple of 0.2x compared to a peer group average of 2.9x, reflecting concerns over cash needs and execution challenges.