RiceBran Technologies(RIBT) - 2023 Q2 - Quarterly Report

Financial Performance - Revenues for the second quarter of 2023 were $6.3 million, a decrease of $0.3 million, or 4.7%, from $6.6 million in the second quarter of 2022[98] - Revenues for the first half of 2023 were $12.1 million, a decrease of $0.5 million, or 3.7%, from $12.6 million in the first half of 2022[103] - Loss from continuing operations for the second quarter of 2023 was $1.8 million, or $0.27 per share, compared to $2.2 million, or $0.41 per share, in the second quarter of 2022[102] - Loss from continuing operations in the first half of 2023 was $3.4 million, or $0.50 per share, compared to $3.9 million, or $0.74 per share, in the first half of 2022[108] Gross Profit and Loss - Gross profit for the second quarter of 2023 was $24 thousand, compared to a gross loss of $0.4 million in the second quarter of 2022[99] - Gross loss for the first half of 2023 improved to $34 thousand from a gross loss of $0.4 million in the first half of 2022[104] Expenses - Selling, general and administrative (SG&A) expenses increased to $1.6 million in the second quarter of 2023, up $0.4 million from $1.2 million in the second quarter of 2022[100] - SG&A expenses for the first half of 2023 were $3.1 million, an increase of $0.5 million compared to $2.6 million in the first half of 2022[105] Cash Position and Future Outlook - Cash and equivalents as of June 30, 2023, were $0.3 million, a decline of $0.6 million from December 31, 2022[109] - The company believes there is no substantial doubt about its ability to continue as a going concern within one year, citing expected improvements in profitability and access to additional capital[111]