EXCLUSIVE: Janover's Q3 Shows Strong Sales Growth but Increased Net Loss, Focuses on AI and Strategic Partnerships
Portfolio Pulse from Anusuya Lahiri
Janover Inc (NASDAQ:JNVR) reported an 11% year-on-year increase in Q3 revenue to $583,785, with revenue per transaction up 78%. However, net loss widened to $1.6 million, or 17 cents per share, from $267,642, or $0.04 per share, in the same quarter last year. Sales and marketing expenses rose 70% due to stock-based compensation related to its IPO. Adjusted EBITDA showed a loss of $407,107. CEO Blake Janover highlighted the doubling of SBA transaction revenue and the potential of AI and strategic partnerships to capture more market share. JNVR shares rose 5.60% to $0.74 in premarket trading.
November 14, 2023 | 1:15 pm
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Janover Inc reported increased Q3 revenue and a focus on AI and strategic partnerships, despite a higher net loss. Shares are up 5.60% in premarket trading.
The positive revenue growth and strategic focus on AI and partnerships are likely to be viewed favorably by investors, despite the increased net loss. The premarket share price increase indicates a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100