Wi2Wi Corporation Reports Q1 2024 Financials and Strategic Focus

Wi2Wi Corporation announced its unaudited financial outcomes for the first quarter ending March 31, 2024, documenting revenues of $1.508 million. This number stands close to the previous quarter but marks a decline from $1.840 million in Q1 2023. The firm reported a net loss of $362,000, compared to a loss of $233,000 in the same period last year.

New CEO Ted Clark emphasized efforts on expanding the sales network and operational consolidation to drive business efficacy and reduce costs. Significant activities included enhancing their distribution partnerships and increasing the sales team size, alongside centralizing more operations to their Middleton, WI facility.

Retaining a focus on quality and customer satisfaction, Wi2Wi aims to strengthen customer relations and improve operational performance through strategic adjustments in their business model and expenditures.

Wi2Wi ended the quarter with total assets of $7.031 million, down from $8.518 million in Q1 2023. Similarly, cash on hand witnessed a decline from $1.273 million to $636,000. Total current liabilities increased slightly to $1.399 million from $1.217 million observed in the previous year.