134% quarterly year-over-year revenue growth
Silver Spring, MD, Nov. 14, 2024 (GLOBE NEWSWIRE) — BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology-focused company, announced its results for the third quarter ended September 30, 2024 (“Q3 2024”).
Third Quarter 2024 Financial Highlights
Quarterly Revenue: Revenue for Q3 2024 was $0.7 million, reflecting a strong 32% increase from Q2 2024 and a significant 134% rise from Q3 2023.
Year-to-Date Revenue: For the nine months ended September 30, 2024, revenue exceeded $1.7 million, a robust 73% increase compared to the same period in 2023.
Gross Margin: Gross margins for the nine months ended September 30, 2024, stood at 50%, down from 72% in the comparable 2023 period, primarily due to increased operational expenses related to our Builder+ operations that have driven revenue growth.
Quarterly Net Loss: Net loss for Q3 2024 was $9.0 million, or $0.56 per share, compared to a net loss of $3.3 mil
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