Eva Live (GOAI) Q2 2024 earnings summary

Executive summary

• Operates a digital marketing and media monetization platform, leveraging AI and big data for campaign optimization and media arbitrage, with a focus on North American clients and a high customer concentration risk.

• Revenue growth driven by larger contracts and increased media buying, but profitability challenged by high operating and media traffic costs.

Financial highlights

• Q2 2024 revenue was $2,188,616, up from $1,079,666 year-over-year; six-month revenue was $4,425,566, up from $1,425,479.

• Q2 2024 net loss was $360,361, compared to net income of $480,526 in Q2 2023; six-month net loss was $170,220, versus net income of $372,412 year-over-year.

• Cash balance at June 30, 2024, was $1,338,247, up from $472,509 at year-end 2023.

• Working capital surplus of $272,514 at June 30, 2024, compared to a deficit of $61,141 at December 31, 2023.

Outlook and guidance

• Management expects current cash, operations, and funding to cover activities for 6–9 months but anticipates the need for additional capital to achieve sustainable sales and growth.

• Plans to invest up to $250,000 in technology and $250,000 in sales, marketing, and working capital over the next year.