What caused KDLY's net profit decline in 2023?

Kindly MD (KDLY) experienced a net profit decline in 2023 primarily due to **increased operating expenses and interest expenses**, which overwhelmed the revenue growth. 1. **Revenue Growth**: The company's total revenue for 2023 was $3.77 million. Although this represents an increase from the previous year, it is not sufficient to offset the higher costs. 2. **Operating Expenses and Interest Expenses**: The net cash flow for the company was negative, with an operating cash flow of -$449,489. This indicates that the company's operational efficiency is under strain, possibly due to increased costs. Additionally, the company reported a net loss of $3,617,647 for 2024, which includes a significant portion of increased interest expenses and a loss on extinguishment of debt. This suggests that the company's financial obligations are rising, further squeezing its profit margins. |code|Ticker|Name|Date|Free Cash Flow|Net Income|market_code| |---|---|---|---|---|---|---| |KDLY|KDLY.O|Kindly MD|2023 Q1|-39514|-180979|186| |KDLY|KDLY.O|Kindly MD|2023 Q2|-492980|-596408|186| |KDLY|KDLY.O|Kindly MD|2023 Q3|-850389|-515146|186| |KDLY|KDLY.O|Kindly MD|2023 Q4|-1154709|-324928|186| |code|Ticker|Name|Date|Total Revenue|market_code| |---|---|---|---|---|---| |KDLY|KDLY.O|Kindly MD|2023 Q1|1160345|186| |KDLY|KDLY.O|Kindly MD|2023 Q2|979538|186| |KDLY|KDLY.O|Kindly MD|2023 Q3|869268|186| |KDLY|KDLY.O|Kindly MD|2023 Q4|759447|186| |code|Ticker|Name|Date|Free Cash Flow|Total Revenue|Net Income|market_code| |---|---|---|---|---|---|---|---| |KDLY|KDLY.O|Kindly MD|2023 Q1|-39514|1160345|-180979|186| |KDLY|KDLY.O|Kindly MD|2023 Q2|-492980|979538|-596408|186| |KDLY|KDLY.O|Kindly MD|2023 Q3|-850389|869268|-515146|186| |KDLY|KDLY.O|Kindly MD|2023 Q4|-1154709|759447|-324928|186| In summary, the decline in net profit for Kindly MD in 2023 is primarily due to increased operating expenses and interest expenses, which have outpaced the growth in revenue.