Quinsam Capital (QCA) Q2 2024 earnings summary

Executive summary

• Reported Q2 2024 net loss of $0.5 million ($0.005 per share), an improvement from a net loss of $0.9 million ($0.009 per share) in Q2 2023.

• Net assets at June 30, 2024, were approximately $0.13 per share outstanding.

• Shares continue to trade at a steep discount to NAV.

• Q2 net loss mainly due to declines in two public company investments, with subsequent recovery in one post-quarter.

Financial highlights

• Total more liquid investments (cash, public equities, derivatives) exceed $0.05 per share.

• Q2 net loss primarily driven by valuation changes in California Nanotechnologies and Rivalry.

Outlook and guidance

• Ongoing search for a value-creating transaction, with expectations that it may take time due to few new listings.

• New investments are not expected to impact timing of any value-creating transaction.