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Reported Friday, Apptech Posted Q4 Loss Of $0.08 Per Share, Up From Loss Of $0.18 Per Share YoY, Signaling Continued Progress On Cost Efficiency And Capital Reinforcement

Benzinga·03/10/2025 08:16:25
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The Company reported an operating loss of $2.1 million ($0.08 per share) versus a $3.4 million loss in the same quarter of 2023 ($0.18 per share).

The operating loss for the full year 2024 was $8.8 million ($0.35 per share) versus $18.5 million ($1.01 per share) in 2023.

CEO Thomas DeRosa noted that AppTech underwent significant organizational changes in the fourth quarter when a new investor group committed $5 million to improve the Company's operations; established voting control of the Board of Directors and replaced certain key executives including the CEO and CFO. New CFO Felipe Corrado stated "We are encouraged by the organizational and operating improvements made in the fourth quarter. We bolstered our capital position, reduced expenses and narrowed our focus solely to several potentially near-term and profitable customers."