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Startech Labs Reports $26.8 Million Net Loss for the Quarter

Startech Labs Reports $26.8 Million Net Loss for the Quarter

Quarterly Revenue of $0

Startech Labs, Inc. [LAAB] has reported a net loss of $26.8 million for the quarter ended August 31, 2023. The company generated no revenue during this period.

Financial Performance

In terms of financial performance, Startech Labs recorded a net loss from operations of $19.3 million, which represents an increase compared to the same quarter last year when the loss amounted to $16.1 million. The higher operating expenses can be attributed to an increase in both general and administrative expenses as well as professional expenses.