How did FRGT's Q2 2022 EPS compare to previous quarters?

Freight Technologies' (FRGT) Q2 2022 EPS of -$7.79 was significantly lower than the EPS in the previous quarters in the same year, and the company experienced a decline in annual revenue.

1. Comparison to Previous Quarters in 2022:
   • FRGT's Q2 2022 EPS of -$7.79 cannot be directly compared to the EPS of the previous quarters in 2022 because the data for Q1, Q3, and Q4 is not available. However, the annual revenue for fiscal 2023 shows a significant decline from the previous year, which suggests that the EPS in Q2 2022 might also have been affected.
   • The annual revenue for fiscal 2023 was $17.1 million, compared to $25.9 million in 2022, indicating a year-over-year decline of 34%.
2. Trend Analysis:
   • The company has shown a third consecutive quarter of notable revenue growth, with Q4 2023 achieving approximately $5 million in quarterly revenue, which is a 7.5% increase from the previous quarter and more than a 16% growth compared to Q4 2022.
   • The year-to-date gross margin percentage rose to 9.3%, reflecting a more than 50-basis point improvement over the prior year-to-date results in 2022.
3. Market Position and Future Prospects:
   • Despite the decline in revenue and EPS, the company is positioned for continued growth and margin improvements in 2024, with a focus on advancing innovation, expanding the client base, and delivering value to shareholders.
   • The strategic focus on core segments and commitment to client satisfaction have established Fr8App as a market leader in the freight technology sector.

In conclusion, FRGT's Q2 2022 EPS of -$7.79 indicates a challenging period for the company, but the subsequent quarters show signs of recovery and growth, with notable revenue increases and improved gross margins.