GigaMedia Announces Fourth-Quarter and Full Year 2023 Financial Results
GigaMedia Limited - Ordinary Shares (GIGM)
US:NASDAQ Investor Relations:
gigamedia.com
Company Research
Source: PR Newswire
TAIPEI, March 29, 2024 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM) today announced its unaudited financial results for the fourth quarter and full year of 2023.HighlightsFor 2023, GigaMedia reported revenues of $4.3 million, with a gross profit of $2.4 million, an operating loss of $3.2 million and the net loss of $3.5 million.The revenues decreased by 23.2% in 2023. During 2023, we terminated a non-performing game while streamlined others, and correspondingly scaled back related workforce, costs and overhead. As a result, we managed to slash operating expenditures down by approximately 10.7%. All in all, the net loss before including investment valuation adjustment was narrowed to $1.3 million, less than half of that in 2022. However, pursuant to requirements of the accounting standards, we recorded a $2.2 million valuation loss on our investments, and the net loss became $3.5 million, $0.7 million higher than 2022.On the balance sheet side, we maintained a solid financial posit
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GIGM
News
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
GIGM
Sec Filings
- 4/29/24 - Form 20-F
- 3/29/24 - Form 6-K
- GIGM's page on the SEC website