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Aclarion, Inc.,(ACON) a leading technology company, has released its unaudited financial statements for the first quarter of 2023. The company experienced a net loss of $1.18 million during this period. However, there was a significant increase in revenue, which reached $25.47 million. The following sections provide a detailed breakdown of the company's financial performance in Q1 2023.
Net Loss of $1.18 Million
Aclarion, Inc. faced a net loss of $1.18 million in the first quarter of 2023, according to the company's unaudited financial statements. This represents a decrease in profitability compared to the same period last year when the net loss was $936,088. The loss is attributed to various factors, including operating expenses and other expenses.
Aclarion, Inc. witnessed a significant increase in revenue during the first quarter of 2023. The company generated $25.47 million in revenue, marking a substantial growth compared to the $9.03 million reported in the same period in the previous year. The surge in revenue reflects the success of Aclarion, Inc. in capturing market demand and expanding its customer base.
In the first quarter of 2023, Aclarion, Inc. reported total assets of $1.86 million, a decrease from $2.91 million at the end of 2022. The company's current assets amounted to $675,533, primarily consisting of cash, restricted cash, accounts receivable, and other current assets. Non-current assets totaled $1.19 million, which includes property and equipment, as well as intangible assets.
On the liabilities side, Aclarion, Inc. had current liabilities of $736,407 as of March 31, 2023, compared to $688,671 at the end of 2022. The increase is mainly attributed to accounts payable and accrued liabilities. The stockholders' equity, which represents the residual interest in the company's assets after deducting liabilities, stood at $1.13 million as of March 31, 2023. This figure includes common stock, additional paid-in capital, and accumulated deficit.