TRX Gold(US:TRX)2024-04-12 21:00Financial Performance - Total revenue for the three months ended February 29, 2024, was $7,984,000, a decrease of 21% compared to $10,098,000 for the same period in 2023[5] - Gross profit for the six months ended February 29, 2024, was $6,989,000, down 31% from $10,229,000 in the same period last year[5] - Net income for the three months ended February 29, 2024, was $1,921,000, compared to a net loss of $50,000 for the same period in 2023[5] - Net income for the six months ended February 29, 2024, was $1,882,000, a decrease of 63.2% compared to $5,110,000 for the same period in 2023[10] - Comprehensive income for the three months ended February 29, 2024, was $1,867,000, down 38% from $2,998,000 in the prior year[55] Assets and Liabilities - Total assets increased to $88,199,000 as of February 29, 2024, up from $84,200,000 as of August 31, 2023[3] - Current liabilities decreased slightly to $17,379,000 from $17,810,000 as of August 31, 2023[3] - Non-current assets increased to $69,872,000 as of February 29, 2024, from $64,762,000 as of August 31, 2023, representing an increase of 8%[55] - The company reported a total of $12,802,000 in amounts payables and accrued liabilities as of February 29, 2024, an increase from $11,571,000 as of August 31, 2023[64] Cash Flow - Cash provided by operating activities decreased to $6,167,000 from $11,426,000, reflecting a decline of 46.1% year-over-year[10] - Cash provided by operating activities for the six months ended February 29, 2024, was $8,719,000, compared to $13,964,000 for the same period in 2023, reflecting a decrease of 38%[55] - Cash at the end of the period was $7,959,000, a decrease of 16.1% from $9,492,000 at the end of the previous period[11] - Cash used in investing activities for the six months ended February 29, 2024, was $5,430,000, a decrease of 47% compared to $10,234,000 in the same period in 2023[55] Shareholder Information - Share capital increased to $165,518,000 as of February 29, 2024, from $164,816,000 as of August 31, 2023[3] - The company reported a basic and diluted earnings per share of $0.00 for the three months ended February 29, 2024, compared to a loss per share of $(0.00) for the same period in 2023[5] - The weighted average number of common shares for diluted EPS increased to 290,961,830 as of February 29, 2024, compared to 281,835,349 for the same period in 2023[45] - Share-based compensation expense for the three months ended February 29, 2024, totaled $0.5 million, down from $0.8 million in the same period of 2023[47] Other Financial Metrics - The change in fair value of derivative financial instruments resulted in a gain of $1,600,000 for the three months ended February 29, 2024, compared to a loss of $(965,000) for the same period in 2023[5] - The total derivative financial instrument liabilities decreased to $1,745 million from $3,544 million, indicating a reduction of about 50.8%[34] - The fair value of derivative financial instrument liabilities decreased to $1,745,000 as of February 29, 2024, from $3,544,000 as of August 31, 2023[64] - The company recognized $1,416,000 in revenue from the deferred revenue agreement, with a remaining balance of $2,052,000 as of February 29, 2024[31] Customer Concentration - The company generated 94% of its revenue from one customer during the three months ended February 29, 2024, totaling $7,500,000[69]