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Fundamental Global Inc. Reports Second Quarter 2024 Financial Results

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Fundamental Global Inc. (Nasdaq: FGF, FGPP) reported its Q2 2024 financial results, highlighting strategic moves and operational changes. The company, formed from the merger of FG Financial and FG Group Holdings, announced over $4 million in annual cost savings and plans for additional reductions. Key financial highlights include:

- Total assets increased to $98.4 million, up $36.3 million from December 31, 2023
- Stockholders' equity rose to $60.4 million, a $23.4 million increase
- Short- and long-term debt decreased by $4.7 million to $3.1 million
- Strong Global Entertainment revenue grew 18.7% to $8.1 million
- Reinsurance business generated $3.7 million in premium revenue
- Asset management reported $4.0 million in investment losses

The company is focusing on streamlining operations and pursuing high-growth opportunities through strategic transactions.

Fundamental Global Inc. (Nasdaq: FGF, FGPP) ha reso noti i risultati finanziari per il secondo trimestre del 2024, evidenziando manovre strategiche e cambiamenti operativi. La società, nata dalla fusione di FG Financial e FG Group Holdings, ha annunciato oltre 4 milioni di dollari di risparmi annuali sui costi e piani per ulteriori riduzioni. I principali risultati finanziari includono:

- Il totale degli attivi è aumentato a 98,4 milioni di dollari, con un incremento di 36,3 milioni rispetto al 31 dicembre 2023
- Il patrimonio netto degli azionisti è salito a 60,4 milioni di dollari, un incremento di 23,4 milioni
- I debiti a breve e lungo termine sono diminuiti di 4,7 milioni a 3,1 milioni
- I ricavi di Strong Global Entertainment sono cresciuti del 18,7% a 8,1 milioni di dollari
- Il business di riassicurazione ha generato 3,7 milioni di dollari in ricavi da premi
- La gestione degli attivi ha riportato 4,0 milioni di dollari in perdite sugli investimenti

La società si sta concentrando sull'ottimizzazione delle operazioni e sull'inseguimento di opportunità di alta crescita attraverso transazioni strategiche.

Fundamental Global Inc. (Nasdaq: FGF, FGPP) ha presentado sus resultados financieros del segundo trimestre de 2024, destacando movimientos estratégicos y cambios operativos. La compañía, formada por la fusión de FG Financial y FG Group Holdings, anunció más de 4 millones de dólares en ahorros anuales en costos y planes para reducciones adicionales. Los principales aspectos financieros incluyen:

- El total de activos aumentó a 98,4 millones de dólares, un aumento de 36,3 millones desde el 31 de diciembre de 2023
- El patrimonio de los accionistas subió a 60,4 millones de dólares, un incremento de 23,4 millones
- La deuda a corto y largo plazo disminuyó en 4,7 millones a 3,1 millones
- Los ingresos de Strong Global Entertainment crecieron un 18,7% a 8,1 millones de dólares
- El negocio de reaseguro generó 3,7 millones de dólares en ingresos por primas
- La gestión de activos reportó 4,0 millones de dólares en pérdidas de inversión

La empresa se está enfocando en optimizar las operaciones y en buscar oportunidades de alto crecimiento a través de transacciones estratégicas.

펀더멘탈 글로벌 Inc. (Nasdaq: FGF, FGPP)는 2024년 2분기 재무 결과를 보고하며 전략적 조치 및 운영 변화를 강조했습니다. FG Financial과 FG Group Holdings의 합병으로 형성된 이 회사는 연간 400만 달러 이상의 비용 절감과 추가 감축 계획을 발표했습니다. 주요 재무 하이라이트는 다음과 같습니다:

- 총 자산이 9840만 달러로 증가하였으며, 2023년 12월 31일 대비 3630만 달러 증가
- 주주 지분은 6040만 달러로 상승하였으며, 2340만 달러의 증가
- 단기 및 장기 부채가 470만 달러 감소하여 310만 달러로 줄어듦
- 스트롱 글로벌 엔터테인먼트 수익이 18.7% 증가하여 810만 달러에 달함
- 재보험 사업이 370만 달러의 보험료 수익을 생성하였음
- 자산 관리에서 400만 달러의 투자 손실을 보고함

회사는 운영 간소화와 전략적 거래를 통한 고성장 기회를 추구하는 데 주력하고 있습니다.

Fundamental Global Inc. (Nasdaq: FGF, FGPP) a communiqué ses résultats financiers pour le deuxième trimestre 2024, mettant en avant des mouvements stratégiques et des changements opérationnels. L'entreprise, née de la fusion de FG Financial et FG Group Holdings, a annoncé plus de 4 millions de dollars d'économies annuelles et des plans pour d'autres réductions. Les principaux points financiers incluent :

- Les actifs totaux ont augmenté à 98,4 millions de dollars, soit une hausse de 36,3 millions par rapport au 31 décembre 2023
- Les capitaux propres des actionnaires ont grimpé à 60,4 millions de dollars, un accroissement de 23,4 millions
- La dette à court et à long terme a diminué de 4,7 millions à 3,1 millions
- Les revenus de Strong Global Entertainment ont augmenté de 18,7 % pour atteindre 8,1 millions de dollars
- L'activité de réassurance a généré 3,7 millions de dollars de revenus de primes
- La gestion d'actifs a signalé 4,0 millions de dollars de pertes d'investissement

L'entreprise met l'accent sur l'optimisation des opérations et la recherche d'opportunités de forte croissance par le biais de transactions stratégiques.

Fundamental Global Inc. (Nasdaq: FGF, FGPP) hat die finanziellen Ergebnisse für das 2. Quartal 2024 veröffentlicht, die strategische Maßnahmen und betriebliche Veränderungen hervorheben. Das Unternehmen, das aus der Fusion von FG Financial und FG Group Holdings entstanden ist, gab über 4 Millionen Dollar an jährlichen Kosteneinsparungen bekannt und plant weitere Reduzierungen. Die wichtigsten finanziellen Highlights sind:

- Die gesamten Vermögenswerte stiegen auf 98,4 Millionen Dollar, ein Anstieg um 36,3 Millionen Dollar seit dem 31. Dezember 2023
- Das Eigenkapital der Aktionäre stieg auf 60,4 Millionen Dollar, was einem Anstieg von 23,4 Millionen Dollar entspricht
- Kurz- und langfristige Schulden sanken um 4,7 Millionen Dollar auf 3,1 Millionen Dollar
- Die Einnahmen von Strong Global Entertainment wuchsen um 18,7% auf 8,1 Millionen Dollar
- Das Rückversicherungsgeschäft erwirtschaftete 3,7 Millionen Dollar an Prämieneinnahmen
- Das Asset-Management meldete 4,0 Millionen Dollar an Investitionsverlusten

Das Unternehmen konzentriert sich darauf, die Abläufe zu optimieren und Wachstumschancen durch strategische Transaktionen zu verfolgen.

Positive
  • Over $4 million in annual cost savings achieved
  • Total assets increased by $36.3 million to $98.4 million
  • Stockholders' equity rose by $23.4 million to $60.4 million
  • Strong Global Entertainment revenue grew 18.7% to $8.1 million
  • Short- and long-term debt decreased by $4.7 million
Negative
  • Asset management reported $4.0 million in investment losses
  • Strong Global Entertainment still reported a $0.7 million loss from operations
  • Reinsurance operating expenses totaled $3.2 million, including $2.1 million in claims and reserve adjustment expenses

Insights

Fundamental Global's Q2 2024 results reveal a mixed financial picture. The company's total assets increased by $36.3 million to $98.4 million and stockholders' equity rose by $23.4 million to $60.4 million. However, the asset management segment reported investment losses of $4.0 million, primarily due to unrealized mark-to-market losses on equity securities.

Strong Global Entertainment showed promise with an 18.7% revenue increase to $8.1 million, driven by digital equipment sales and increased service demand. The reinsurance business generated $3.7 million in premium revenue but faced $3.2 million in operating expenses. The company's debt reduction of $4.7 million is a positive sign, but ongoing restructuring and merger-related activities make it challenging to assess the company's true financial health in the short term.

Fundamental Global's strategic moves demonstrate a focus on operational efficiency and growth. The company's aggressive simplification efforts, including $4 million in annual cost savings, show a commitment to streamlining operations. The planned merger of Strong Global Entertainment into Fundamental Global and the combination of Strong/MDI Screen Systems with FG Acquisition Corp. to create Saltire Holdings, are bold moves aimed at reducing redundancies and creating new growth opportunities.

These strategic decisions could position the company for improved performance in the long term. However, the success of these initiatives depends on smooth execution and realizing the anticipated synergies. Investors should closely monitor the progress of these transactions, expected to close by the end of Q3 and their impact on the company's financial performance and market position.

Mooresville, NC, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Fundamental Global Inc. (Nasdaq: FGF, FGPP) (the “Company” or "Fundamental Global"), formerly known as FG Financial Group, Inc. (“FG Financial”), today announced results for the second quarter ended June 30, 2024. FG Financial and FG Group Holdings Inc. (“FG Group Holdings”) completed their merger (the “Merger”) on February 29, 2024, and the combined company was renamed Fundamental Global.

Kyle Cerminara, Chairman and CEO of Fundamental Global, commented, “We’re aggressively simplifying and enhancing our operations. We’ve executed a series of strategic moves this year that have resulted in over $4 million in annual cost savings, and we have plans for additional savings coming over the next few quarters.”

“We’ve also announced the combination of Strong/MDI Screen Systems with FG Acquisition Corp., which will create Saltire Holdings, Ltd., a new Canadian publicly traded private equity platform. Additionally, merging Strong Global Entertainment into Fundamental Global will remove redundant costs and streamline our structure. We expect these transactions to close by the end of the third quarter, driving efficiency and focusing on high-growth opportunities.”

Second Quarter Financial Highlights

Note: The financial results for the second quarter and first six months of 2024 reflect the Company's performance following the Merger, which was treated as a reverse merger. Consequently, the financial results before the merger include only the operations of FG Group Holdings, while results after February 29, 2024, reflect the combined operations of Fundamental Global. Additionally, due to a pending transaction, the current and historical results of Strong/MDI have been reclassified as discontinued operations and are not covered in the discussion below.

As of June 30, 2024, Fundamental Global’s key balance sheet items included:

  • Total assets of $98.4 million, an increase of $36.3 million from December 31, 2023. Assets included equity holdings of $43.6 million, which included directly or indirectly held positions in OppFi Inc., iCoreConnect Inc., FG Acquisition Corp., FG Communities, Inc., Craveworthy LLC, and other holdings, as well as the consolidated assets of Strong Global Entertainment. Of the $43.6 million of equity holdings as of June 30, 2024, approximately $22.5 million were owned by our Cayman Islands-based reinsurance subsidiary, FGRe, where we use such investment and equity holdings to support the capital structure of our reinsurance business.
  • Total stockholders’ equity of $60.4 million, an increase of $23.4 million from December 31, 2023, reflecting the increased scale on a combined basis following the Merger.
  • Short- and long-term debt totaled $3.1 million, a decrease of $4.7 million from December 31, 2023.

Strong Global Entertainment

Revenue increased 18.7% to $8.1 million for the second quarter with increased sales of digital equipment and increased demand for services. The increase in demand from cinema customers was due to a combination of increased sales efforts, expanded market share, laser projection upgrades and the acquisition of Innovative Cinema Solutions (“ICS”) contributing favorably to overall revenue growth.

Gross profit increased $0.6 million to $1.5 million or 18.8% of revenues in the second quarter. The increase in gross profit resulted primarily from increased demand for installation and maintenance services, and contributions from the ICS acquisition.

Loss from operations improved to $0.7 million in the second quarter of 2024 compared to $1.6 million during the second quarter of 2023. Administrative expenses were higher in the second quarter for 2023 largely due to one-time costs incurred upon the completion of the IPO in May 2023, which did not repeat in the current period. However, we incurred higher general and administrative expenses in connection with operating as an independent public company following the separation in May 2023, which partially offset increases in gross profit.

Reinsurance

The reinsurance business generated $3.7 million of premium revenue during the second quarter of 2024. Reinsurance operating expenses totaled $3.2 million during the second quarter of 2024, which primarily included $2.1 million of claims and reserve adjustment expenses and $0.9 million of deferred policy acquisition cost amortization.

Asset Management

Investment losses from asset management were $4.0 million in the second quarter of 2024, primarily due to unrealized mark-to-market losses recognized on equity securities.

Fundamental Global Inc.

Fundamental Global Inc. (Nasdaq: FGF, FGFPP) and its subsidiaries engage in diverse business activities including reinsurance, asset management, merchant banking, manufacturing and managed services.

The FG® logo and Fundamental Global® are registered trademarks of Fundamental Global LLC.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are therefore entitled to the protection of the safe harbor provisions of these laws. These statements may be identified by the use of forward-looking terminology such as “anticipate,” “believe,” “budget,” “can,” “contemplate,” “continue,” “could,” “envision,” “estimate,” “expect,” “evaluate,” “forecast,” “goal,” “guidance,” “indicate,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “possibly,” “potential,” “predict,” “probable,” “probably,” “pro-forma,” “project,” “seek,” “should,” “target,” “view,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or other variations thereon or comparable terminology. In particular, discussions and statements regarding the Company’s future business plans and initiatives are forward-looking in nature. We have based these forward-looking statements on our current expectations, assumptions, estimates, and projections. While we believe these to be reasonable, such forward-looking statements are only predictions and involve a number of risks and uncertainties, many of which are beyond our control. These and other important factors may cause our actual results, performance, or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements, and may impact our ability to implement and execute on our future business plans and initiatives. Management cautions that the forward-looking statements in this release are not guarantees of future performance, and we cannot assume that such statements will be realized or the forward-looking events and circumstances will occur. Factors that might cause such a difference include, without limitation: risks associated with our inability to identify and realize business opportunities, and the undertaking of any new such opportunities; our lack of operating history or established reputation in the reinsurance industry; our inability to obtain or maintain the necessary approvals to operate reinsurance subsidiaries; risks associated with operating in the reinsurance industry, including inadequately priced insured risks, credit risk associated with brokers we may do business with, and inadequate retrocessional coverage; our inability to execute on our investment holdings and asset management strategy, including our strategy to invest in the risk capital of special purpose acquisition companies (SPACs); our ability to maintain and expand our revenue streams to compensate for the lower demand for our digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers in connection with our Strong Global Entertainment business; our ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; our ability to maintain Strong Global Entertainment’s brand and reputation and retain or replace its significant customers; challenges associated with Strong Global Entertainment’s long sales cycles; the impact of a challenging global economic environment or a downturn in the markets; the effects of economic, public health, and political conditions that impact business and consumer confidence and spending, including rising interest rates, periods of heightened inflation and market instability; potential loss of value of investment holdings; risk of becoming an investment company; fluctuations in our short-term results as we implement our new business strategy; risks of being unable to attract and retain qualified management and personnel to implement and execute on our business and growth strategy; failure of our information technology systems, data breaches and cyber-attacks; our ability to establish and maintain an effective system of internal controls; our limited operating history as a public company; the requirements of being a public company and losing our status as a smaller reporting company or becoming an accelerated filer; any potential conflicts of interest between us and our controlling stockholders and different interests of controlling stockholders; potential conflicts of interest between us and our directors and executive officers; risks associated with our related party transactions and investment holdings; and risks associated with our investments in SPACs, including the failure of any such SPAC to complete its initial business combination. Our expectations and future plans and initiatives may not be realized. If one of these risks or uncertainties materializes, or if our underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. You are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements are made only as of the date hereof and do not necessarily reflect our outlook at any other point in time. We do not undertake and specifically decline any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect new information, future events or developments.

Investor Contact:
investors@fundamentalglobal.com

FUNDAMENTAL GLOBAL INC.
Condensed Consolidated Balance Sheets
($ in thousands)

  June 30, 2024  December 31, 2023 
  (unaudited)    
ASSETS        
Cash and cash equivalents $5,850  $5,995 
Accounts receivable, net  4,243   3,529 
Inventories, net  2,548   1,482 
Equity securities, at fair value  5,063   10,552 
Investments  38,491   17,469 
Property, plant and equipment, net  3,118   11,115 
Operating lease right-of-use assets  295   371 
Finance lease right-of-use assets  1,071   1,258 
Deferred policy acquisition costs  1,637   - 
Reinsurance balances receivable, net  18,139   - 
Funds deposited with reinsured companies  8,055   - 
Assets of discontinued operations  8,396   9,886 
Other assets  1,498   486 
Total assets $98,404  $62,143 
         
LIABILITIES        
Accounts payable and accrued expenses $6,832  $4,834 
Deferred revenue and customer deposits  1,157   867 
Loss and loss adjustment expense reserves  9,742   - 
Unearned premium reserves  7,781   - 
Operating lease liabilities  338   421 
Finance lease liabilities  1,100   1,283 
Short-term debt  2,614   2,294 
Long-term debt, net of debt issuance costs  437   5,461 
Deferred income taxes  2,735   3,075 
Liabilities of discontinued operations  5,142   6,799 
Other liabilities  90   102 
Total liabilities  37,968   25,136 
         
SHAREHOLDERS’ EQUITY        
Series A Preferred Shares  22,365   - 
Common stock  29   225 
Additional paid-in capital  50,004   55,856 
(Accumulated deficit) retained earnings  (8,390)  2,336 
Treasury stock  -   (18,586)
Accumulated other comprehensive loss  (5,268)  (4,682)
Total Fundamental Global stockholders’ equity  58,740   35,149 
Equity attributable to non-controlling interest  1,696   1,858 
Total stockholders’ equity  60,436   37,007 
Total liabilities and stockholders’ equity $98,404  $62,143 


FUNDAMENTAL GLOBAL INC.

Condensed Consolidated Statements of Operations
($ in thousands, except share and per share data)
(Unaudited)

  Three Months Ended June 30,  Six Months Ended June 30, 
  2024  2023  2024  2023 
Revenue:            
Net premiums earned $3,697  $-  $4,472  $- 
Net investment loss  (4,011)  (3,690)  (7,411)  (7,232)
Net product sales  4,782   3,794   9,417   7,564 
Net services revenue  3,406   3,232   6,651   6,137 
Total revenue  7,874   3,336   13,129   6,469 
                 
Expenses:                
Net losses and loss adjustment expenses  2,094   -   2,460   - 
Amortization of deferred policy acquisition costs  872   -   1,156   - 
Costs of products  3,973   3,542   7,874   6,875 
Costs of services  2,514   2,285   4,880   4,451 
Selling expense  370   161   658   398 
General and administrative expenses  4,104   3,559   7,493   5,693 
(Gain) loss on impairment and disposal of assets  -   (5)  1,475   (5)
Total expenses  13,927   9,542   25,996   17,412 
Loss from operations  (6,053)  (6,206)  (12,867)  (10,943)
Other income (expense):                
Interest expense, net  (91)  (93)  (233)  (162)
Foreign currency transaction loss  (5)  -   (6)  (2)
Bargain purchase on acquisition and other income, net  -   1   1,858   24 
Total other (expense) income, net  (96)  (92)  1,619   (140)
Loss from continuing operations before income taxes  (6,149)  (6,298)  (11,248)  (11,083)
Income tax (expense) benefit  74   14   91   7 
Net loss from continuing operations  (6,075)  (6,284)  (11,157)  (11,076)
Net income from discontinued operations  150   893   785   1,694 
Net loss  (5,925)  (5,391)  (10,372)  (9,382)
Net loss attributable to non-controlling interest  (143)  (118)  (160)  (118)
Dividends declared on Series A Preferred Shares  (447)  -   (516)  - 
Loss attributable to common shareholders $(6,229) $(5,273) $(10,728) $(9,264)
                 
Basic and diluted net (loss) income per common share:                
Continuing operations $(0.22) $(0.63) $(0.51) $(1.15)
Discontinued operations  -   0.09   0.04   0.18 
Total $(0.22) $(0.54) $(0.47) $(0.97)
                 
Weighted average common shares outstanding:                
Basic and diluted  28,518   9,705   22,651   9,564 


FUNDAMENTAL GLOBAL INC.

Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)

  Six Months Ended June 30, 
  2024  2023 
Cash flows from operating activities:        
Net loss from continuing operations $(11,157) $(11,076)
Adjustments to reconcile net loss to net cash used by operating activities:        
Net unrealized holding loss on equity investments  6,377   4,538 
Loss from equity method investments  1,806   2,694 
Gain on acquisition of ICS assets  -   - 
Net realized (gain) loss on sale of equity investments  (118)  - 
Provision for (recovery of) doubtful accounts  30   (26)
Benefit from (provision for) obsolete inventory  (38)  30 
Provision for warranty  3   6 
Depreciation and amortization  454   344 
Amortization and accretion of operating leases  168   59 
Impairment of property and equipment  1,405   - 
Gain on merger of FGF and FGF  (1,831)  - 
Deferred income taxes  (16)  (57)
Stock compensation expense  725   1,037 
Changes in operating assets and liabilities:        
Reinsurance balances receivable  967   - 
Deferred policy acquisition costs  127   - 
Other assets  634   287 
Loss and loss adjustment expense reserves  707   - 
Unearned premium reserves  (2,964)  - 
Accounts receivable  (386)  (57)
Inventories  (1,027)  395 
Current income taxes  (458)  (16)
Accounts payable and accrued expenses  1,251   2,210 
Deferred revenue and customer deposits  286   (584)
Operating lease obligations  (123)  (65)
Net cash used by operating activities from continuing operations  (3,178)  (281)
Net cash used by operating activities from discontinued operations  (572)  (2,305)
Net cash used by operating activities  (3,750)  (2,586)
         
Cash flows from investing activities:        
Capital expenditures  (20)  (121)
Proceeds from sales of equity securities  1,154   198 
Proceeds from sales of property and equipment  1,289   - 
Cash acquired in Merger of FGF and FGH  1,903   - 
Net cash provided by investing activities from continuing operations  4,326   77 
Net cash used in investing activities from discontinued operations  (59)  (283)
Net cash provided by (used in) investing activities  4,267   (206)
         
Cash flows from financing activities:        
Payment of dividends on preferred shares  (894)  - 
Principal payments on short-term debt  (97)  (132)
Payment payments on long-term debt  (185)  (101)
Proceeds from Strong Global Entertainment initial public offering  -   2,411 
Payments of withholding taxes for net share settlement of equity awards  -   (104)
Payments on finance lease obligations  (120)  (66)
Net cash (used in) provided by financing activities from continuing operations  (1,296)  2,008 
Net cash provided by financing activities from discontinued operations  477   1,930 
Net cash (used in) provided by financing activities  (819)  3,938 
         
Effect of exchange rate changes on cash and cash equivalents from continuing operations  3   (3)
Effect of exchange rate changes on cash and cash equivalents from discontinued operations  (11)  34 
Net (decrease) increase in cash and cash equivalents from continuing operations  (145)  1,801 
Net decrease in cash and cash equivalents from discontinued operations  (165)  (624)
Net (decrease) increase in cash and cash equivalents  (310)  1,177 
         
Cash and cash equivalents from continuing operations at beginning of period  5,995   3,063 
Cash and cash equivalents from continuing operations at end of period $5,850  $4,864 

FAQ

What was Fundamental Global's (FGF) revenue for Q2 2024?

The press release doesn't provide a total revenue figure for Fundamental Global. However, it mentions that Strong Global Entertainment, a subsidiary, had revenue of $8.1 million, and the reinsurance business generated $3.7 million in premium revenue.

How much did Fundamental Global (FGF) save in costs in Q2 2024?

Fundamental Global announced over $4 million in annual cost savings as a result of strategic moves executed in 2024. The company also stated plans for additional savings in the coming quarters.

What was Fundamental Global's (FGF) total asset value as of June 30, 2024?

As of June 30, 2024, Fundamental Global reported total assets of $98.4 million, which was an increase of $36.3 million from December 31, 2023.

How did Strong Global Entertainment, a subsidiary of Fundamental Global (FGF), perform in Q2 2024?

Strong Global Entertainment's revenue increased 18.7% to $8.1 million in Q2 2024. Gross profit increased by $0.6 million to $1.5 million. However, it still reported a loss from operations of $0.7 million, though this was an improvement from the $1.6 million loss in Q2 2023.

Fundamental Global Inc.

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