Revenue Performance - Revenue for Q3 2024 decreased by $3.9 million, or 20.6%, to $15.1 million from $19.0 million in Q3 2023[5] - Device revenue declined by 26% to $11.7 million, while service revenue grew by 4% to $3.1 million compared to the prior year[10] - Total revenue in the EMEA region decreased by 29% to $8.7 million, while revenue in the Americas decreased by 7% to $3.5 million[10] Profitability and Expenses - Gross profit for Q3 2024 was $7.2 million, a decrease of 30.4% year-over-year, primarily due to lower sales in the EMEA region[7] - Selling, general and administrative expenses increased by $2.8 million, or 50.6%, to $8.2 million, driven by higher employee compensation and overhead costs[8] - Research and development costs rose by $0.1 million, or 7.7%, to $1.8 million, mainly due to increased amortization expenses[9] - Net income for the three months ended December 31, 2025, was a loss of $3,728 thousand, compared to a profit of $2,969 thousand for the same period in 2024, representing a significant decline[23] - Comprehensive loss for the nine months ended December 31, 2024, was $6,496 thousand, compared to a loss of $2,616 thousand for the same period in 2023, indicating a worsening financial position[23] Cash Flow and Liquidity - Cash flows from operating activities for the nine months ended December 31, 2024, resulted in a net cash outflow of $848 thousand, compared to an inflow of $3,177 thousand for the same period in 2023[26] - Cash, cash equivalents, and restricted cash at the end of the period were $1,120 thousand, down from $1,679 thousand at the end of the previous year, indicating liquidity challenges[26] - Cash and cash equivalents totaled $1.1 million as of December 31, 2024[11] Equity and Financial Position - Total equity decreased to $(37,882) thousand as of December 31, 2024, from $(34,395) thousand as of September 30, 2024, indicating a decline in shareholder value[24] - The net transactions with the parent company resulted in an increase of $450 thousand in equity during the three months ended December 31, 2024[24] Asset Management - The company incurred depreciation and amortization expenses of $611 thousand for the nine months ended December 31, 2024, compared to $230 thousand for the same period in 2023, highlighting increased asset utilization[26] - The allowance for inventory obsolescence was $(67) thousand for the nine months ended December 31, 2024, a significant change from $705 thousand in the same period of 2023, suggesting improved inventory management[26] Future Outlook - The company reiterated its revenue guidance for fiscal year 2025, expecting a range between $60 million and $67 million[12] Collaborations - The company announced collaborations with Nobis Rehabilitation Partners and Zahrawi Group to expand its distribution network[10] Foreign Exchange Impact - The company reported a foreign exchange loss of $(241) thousand for the nine months ended December 31, 2024, compared to a gain of $181 thousand for the same period in 2023, reflecting adverse currency movements[26]
DIH Holding(DHAI) - 2024 Q4 - Annual Results