Sparx Holdings Group, Inc. Reports Net Loss of $47.7 Million for the Year Ended June 30, 2023
Annual Revenue: N/A
By USInMinutes
Published - Sep 08, 2023, 03:52 PM ET
Last Updated - Sep 08, 2023, 03:52 PM EDT
Sparx Holdings Group, Inc. [SHGI], a leading technology company, announced its financial results for the year ended June 30, 2023. The company reported a net loss of $47.7 million, compared to a net loss of $5.7 million for the previous year.
Financial Performance
Despite the increase in net loss, Sparx Holdings Group, Inc. saw strong growth in its operating income. Operating expenses for the year totaled $47.7 million, an increase from $5.7 million in the prior year. This increase was primarily driven by higher general and administrative expenses, which totaled $46.8 million compared to $5.7 million in the previous year.
