Insignia(US:LDWY)2024-05-20 20:23Financial Performance - Q1 2024 revenue from continuing operations was $8,033,000, with all revenue attributed to Bloomia, compared to $0 in Q1 2023[6] - Gross profit for Q1 2024 was $1,894,000, representing 23.6% of revenue, up from $0 in Q1 2023[7] - Q1 2024 operating loss from continuing operations was $1,494,000, compared to a loss of $628,000 in Q1 2023[9] - Q1 2024 net loss from continuing operations was $1,336,000, or $0.77 per share, compared to a net loss of $528,000, or $0.29 per share in Q1 2023[12] - Adjusted EBITDA for Q1 2024 was $1,745,000, compared to a loss of $614,000 in Q1 2023[20] Cash and Working Capital - Cash and cash equivalents as of March 31, 2024, totaled $5.0 million, down from $16.1 million as of December 31, 2023[14] - Working capital was $11.1 million at March 31, 2024, compared to $15.5 million at December 31, 2023[14] Acquisition Details - Bloomia was acquired for a total purchase price of $53.4 million, including $34.9 million in cash[3] - Q1 2024 included $1,542,000 in acquisition-related costs and $1,360,000 in amortization expense[4] Sales Seasonality - The company anticipates continued seasonality in sales, with stronger performance expected in the first and second quarters of the year[12]