Spetz Inc. Reports Reduced Losses for Nine Months Ending September 30, 2024

Spetz Inc., a technology company listed on the CSE (SPTZ) and OTC Pink (DBKSF), has announced its financial results for the three and nine months ending September 30, 2024. The results show significant financial improvements for the company. Total expenses decreased by 50.9% compared to the same period in 2023, down to USD 1,889,000 from USD 3,848,000. Net loss also decreased by 57.3%, reaching USD 1,079,000.

The company reported a 55.6% reduction in adjusted EBITDA loss, amounting to USD 492,000 for the nine months ended, illustrating their operational efficiencies. CEO Yossi Nevo attributes these improvements to enhanced cost management and infrastructure development aimed at achieving cash-flow positivity. This financial performance indicates a positive trajectory for the company in terms of expense reduction and operational efficiency.