Senmiao Technology Limited Reports Net Loss of $3.8 Million for Fiscal Year 2023
Company's Revenue Surges to $8.1 Million, Reflecting Growth in Operations
Senmiao Technology Limited, (AIHS) a leading technology company, has announced its financial results for the fiscal year ended March 31, 2023. The company reported a net loss of $3.8 million, reflecting its strategic investments and expansion efforts. However, Senmiao Technology experienced significant growth in revenue, reaching $8.1 million, indicating the success of its operations. Let's delve into the details of the company's financial performance and key highlights from the consolidated balance sheets and statements of operations.
Net Loss Highlights
Despite a strong revenue performance, Senmiao Technology Limited incurred a net loss of $3.8 million for the fiscal year 2023. This loss can be attributed to various factors, including increased operating expenses and provisions for doubtful accounts. The net loss from continuing operations improved compared to the previous year, demonstrating the company's efforts to enhance its financial performance.
