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Fobi Ai Inc (FOBIF)
:FOBIF
Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 29, 2024
|% Change Since: -66.67%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive outlook for Fobi AI, with significant revenue growth and operational efficiency gains. The company overcame financial and operational challenges, including a successful capital raise and selection in a prestigious accelerator program, positioning it well for future opportunities. However, the company faced some operational hurdles, including audit and reporting challenges, and a temporary stock halt.Company Guidance
During the Fobi AI earnings call for Q2 2024, the company presented several key metrics demonstrating significant financial progress. Revenue for the quarter increased by 56% quarter-over-quarter, rising from $500,000 to $780,000, and showing a 46% increase year-to-date over the previous year. Operational expenditures decreased by 35%, with consulting fees reduced by 25% ($286,000), wages down by 19% to $816,000, and technology costs decreased by 28% to $219,000. Overall, operating expenses were trimmed by $1.6 million, marking a 45% reduction. The cash consumed in operations declined by 27% or $803,000 year-to-date. These financial improvements were attributed to streamlined operational efficiencies and the successful completion of a $3 million capital raise, which strengthened the company's balance sheet and positioned it for future growth.Significant Revenue Growth
Quarter-on-quarter revenue increased by 56%, from $500,000 to $780,000. Year-to-date revenue for the 6-month period increased by 46%, totaling a $480,000 increase.
Reduction in Operational Expenditures
Operational expenditures decreased by 45% quarter-on-quarter, with consulting fees down by 25%, wages reduced by 19%, and technology costs lowered by 28%.
Improved Cash Flow and Financial Position
Cash consumed in operations declined by 27% year-to-date, representing an $803,000 reduction. Successful completion of a capital raise has strengthened the balance sheet.
Involvement in Comcast Sports Accelerator Program
Fobi AI was selected to participate in the Comcast Sports Accelerator Program, adding considerable value and momentum to their sports and entertainment initiatives.
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FOBIF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FOBIF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| May 29, 2024 | $0.06 | $0.05 | -16.67% |
| Mar 01, 2024 | $0.06 | $0.08 | +33.33% |
| Jan 16, 2024 | $0.08 | $0.06 | -25.00% |
| Oct 27, 2023 | $0.12 | $0.11 | -8.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Fobi Ai Inc (FOBIF) report earnings?
Fobi Ai Inc (FOBIF) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Fobi Ai Inc (FOBIF) earnings time?
Fobi Ai Inc (FOBIF) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FOBIF EPS forecast?
Currently, no data Available
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