Company’s pharmaceutical subsidiary continues to drive impressive growth accounting for nearly 80% of Q3 2024 revenue
“Q3 showed us that the pharmaceutical market is thriving. Driven by our
Notably, Dalrada’s health segment, Genefic, posted a revenue increase of 80% (
Important highlights from Q3 2024:
- Dalrada overall revenue:
$10.3 million - Genefic revenue:
$8.6 million - Up
$4.2 million (95.5%) from previous quarter - Up
$3.8 million (80.1% increase from Q3 2023)
- Genefic revenue:
$13.3 million of affiliate debt converted to Series I preferred shares
“The company continues to make tremendous strides in clearing debt and reducing expenditures while increasing revenue. I’m pleased to report that with this latest filing, Dalrada’s net equity is currently
The Dalrada executive team expects ongoing quarter-to-quarter growth during Q4 as well as a year-over-year revenue increase by the end of the fiscal year 2024 (June 30).
About
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About Genefic
A wholly-owned subsidiary of
Forward-Looking Statements
Statements contained in this press release, other than statements of historical fact, particularly statements relating to cost reductions and the anticipated pre-tax savings from the cost reduction program, restructuring costs, footprint rationalization, simplifying and streamlining our operations, reducing complexity, enhancing the speed of decision-making, leveraging our sourcing capabilities and the timing of implementation and completion of the cost reduction program, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “forecast,” “project,” “plan,” and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of many events outside the Company’s control and actual results and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the
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2024 GlobeNewswire, Inc., source