Spetz Inc. Reports Financial Outcomes for First Quarter of 2024

TORONTO, ON / ACCESSWIRE / May 15, 2024 / Spetz Inc. (CSE:SPTZ)(OTC PINK:DBKSF) revealed its financial details for the first quarter ended March 31, 2024. The Toronto-based company marked a 4.6% revenue increase up to US$543K from US$518K in the same period the previous year. Additionally, its Q1 2024 reports showed a significant cut in net loss after income tax from US$1,044K in Q1 2023 to US$418K, reflecting a decrease of 60%.

Adjusted EBITDA, accounting for losses at US$166K, also declined by 59.5% compared to US$410K from the same quarter in the preceding year. CEO Yossi Nevo credited these financial improvements to the efficient execution of the company’s strategic plan, which focuses on expense reduction while maintaining revenue growth. Nevo emphasized the team's continued efforts to reinforce Spetz's position in the market through this plan.