ARHT Media Announces Q1 2023 Operating Results
TORONTO, May 30, 2023 (GLOBE NEWSWIRE) -- ARHT Media Inc. ("ARHT" or "the Company") (TSXV:ART), (OTCQB:ARHTF) the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, today announced its financial results for the first quarter ended March 31, 2023.
- TORONTO, May 30, 2023 (GLOBE NEWSWIRE) -- ARHT Media Inc. ("ARHT" or "the Company") (TSXV:ART), (OTCQB:ARHTF) the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, today announced its financial results for the first quarter ended March 31, 2023.
- Revenue for Q1 2023 was $1.3M compared to $1.4M for Q1 2022, a 8% decrease.
- Q1 2023 Net loss of $2.8M vs $1.3M in Q1 2022 primarily due to increased headcount as the Company continues to invest for growth.
- In Q1 2023, the Company signed six agreements for permanent installation of its hologram technology that will produce ongoing recurring revenue.