Rhea-AI Summary
Orbsat Corp reported its financial results for Q2 2020, showing a 13.4% decrease in revenue to $1.22 million due to COVID-19 impacts in Europe, despite a 42.9% sales increase in North America. Overall revenue for the first half of 2020 fell 0.7% to $2.69 million. Gross margin improved to 21.1%, with gross profit down 5.9% to $257,692. Notably, net loss decreased by 62.9% to $(258,294). CEO David Phipps indicated ongoing resilience and stability amid challenging conditions.
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