Safe and Green Development Reports Q1 Revenue Of $49,816
Portfolio Pulse from Benzinga Newsdesk
Safe and Green Development Corporation (SGD) reported Q1 2024 revenue of $49,816, a GAAP net loss of $3,067,671, and an adjusted EBITDA loss of $432,004. Key operational highlights include the sale of the St. Mary's site for $1.35M, acquisition of XENE Real Estate AI Software, and securing financing for the Norman Berry expansion. The company aims to achieve $1M in revenue in Q2 from the St. Mary's sale and expand its XENE subscriber base.
May 15, 2024 | 1:12 pm
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Safe and Green Development Corporation (SGD) reported Q1 2024 revenue of $49,816, a GAAP net loss of $3,067,671, and an adjusted EBITDA loss of $432,004. Key operational highlights include the sale of the St. Mary's site for $1.35M, acquisition of XENE Real Estate AI Software, and securing financing for the Norman Berry expansion. The company aims to achieve $1M in revenue in Q2 from the St. Mary's sale and expand its XENE subscriber base.
The sale of the St. Mary's site and the acquisition of XENE Real Estate AI Software are significant positive developments for SGD. These actions are expected to strengthen the company's balance sheet and enhance its technological capabilities, potentially leading to increased revenue and subscriber growth in the near term.
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