mCloud Announces Third Quarter 2022 Financial Results
mCloud saw a decline in total revenues in Q3 2022, with Q3 2022 total revenues at C$2.9 million for the quarter compared to C$7.4 million in Q3 2021.
- mCloud saw a decline in total revenues in Q3 2022, with Q3 2022 total revenues at C$2.9 million for the quarter compared to C$7.4 million in Q3 2021.
- As a result, Agnity results are consolidated to July 29. mCloud expects cumulative profit and loss results for the fiscal year ended December 31, 2022 to include Agnity items up to July 29.
- As a result of the actions taken in Q3 2022, it is expected direct expenses in the fourth quarter ending December 31, 2022 ("Q4 2022") will be significantly lower compared to direct expenses in Q3 2022.
- The Company will host a conference call at 10:00am EST on November 15, 2022 to discuss the financial results.