Welcome to our dedicated page for Konatel news (Ticker: KTEL), a resource for investors and traders seeking the latest updates and insights on Konatel stock.
KonaTel, Inc. (KTEL) delivers innovative voice/data solutions through government-subsidized mobile services and cloud communications platforms. This news hub provides investors and industry observers with timely updates on strategic developments across the company's core operations.
Access comprehensive coverage of earnings announcements, technology deployments, regulatory milestones, and partnership agreements. Track KTEL's progress in bridging traditional telecom services with modern CPaaS solutions through its Apeiron Systems subsidiary.
Key news categories include Lifeline program expansions, hosted communications innovations, wholesale network partnerships, and infrastructure enhancements. All content is verified through official channels to ensure reliability for investment research and market analysis.
Bookmark this page for direct access to KonaTel's latest press releases and curated industry updates. Monitor how KTEL leverages its dual focus on subsidized mobile access and enterprise cloud solutions to drive growth in evolving telecom markets.
KonaTel (OTCQB:KTEL) reported its fiscal year 2024 results, showing mixed performance. Revenue decreased to $15.5 million from $18.2 million in 2023, primarily due to reduced government subsidized revenues following the Affordable Connectivity Program (ACP) cancellation. However, gross profit slightly increased to $3.41 million from $3.37 million.
The company reported GAAP net income of $4.5 million ($0.10 per share) compared to a loss of $3.9 million in 2023, including IM Telecom 49% ownership sale. Cash position strengthened to $1.7 million from $777,000. Q4 2024 showed revenue decline but improved gross profit margins at 28.5% vs 6.8% year-over-year.
Looking ahead, KonaTel has expanded its national Lifeline license to 40 states and is growing its hosted cloud service platform. Monthly SMS service revenue increased from $20,000 to $110,000 over 12 months, and the company has launched new wholesale POTS services with agreements covering 35,000 existing lines for migration.
KonaTel (OTCQB:KTEL) reported Q2 2024 financial results with revenues of $4.3 million, down 5.6% year-over-year, and a gross profit of $900,000, up 16.2%. The company faced challenges due to the end of the Affordable Connectivity Program (ACP) but saw growth in its California Lifeline business. Key highlights include:
- GAAP net loss of $(1.1) million, or $(0.03) per share
- Non-GAAP net loss of $(885,000), or $(0.02) per diluted share
- Cash position of $3.7 million
- Expansion in California Lifeline and hosted services
- Launch of wireless-based wholesale POTS replacement service
Despite ACP revenue loss, KonaTel is focusing on California Lifeline expansion and growth in hosted services, supported by its national CPaaS platform.
KonaTel reported a 40% year-over-year revenue increase for Q1 2024, reaching $5.6 million compared to $4.0 million in Q1 2023.
The company also improved gross profit by 12.5%, achieving $1.1 million. Despite this, the gross profit margin decreased to 20% from 24.9%. Operating losses widened slightly to $847,000 from $753,000.
GAAP net income was $8.1 million, primarily due to a $9.2 million gain from selling a 49% stake in IM Telecom. Non-GAAP net income showed a loss of $833,793 compared to a $608,000 loss in the previous year.
KonaTel used sale proceeds to repay debt, ending the quarter with $3.9 million in cash. The company plans to use its stronger balance sheet to diversify revenue streams and expand through its Hosted Services segment.
Major upcoming projects include a 5-year exclusive agreement to provide wholesale cellular service to Viva-USA.
KonaTel, Inc. (OTCQB: KTEL) reported a 56% revenue increase to $20.0 million for the fiscal year 2022, driven by its expansion in mobile services for low-income consumers. Despite the revenue growth, the company faced a GAAP net loss of $(3.0) million, or $(0.07 per share, reversing from a profit of $623,000 in 2021. Gross profit fell 12.9% to $5.0 million due to high customer acquisition costs, yet cash reserves grew 120.4% to $2.1 million. The fourth quarter showed a 22.4% revenue rise, but also recorded a net loss of $(84,000). Strategic partnerships and financing of $3.15 million aim to bolster growth in 2023, emphasizing a balance between aggressive investment and sustainable growth.
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