Why did RAIN's operating profit plummet in Q2 2024?

Rain Enhancement's operating income took a significant hit, dropping to -672,804 in Q2 2024, compared to the previous year's second quarter. This decline can be attributed to several factors:

|code|Ticker|Name|Date|Operating Income YoY|Operating Income|market_code|
|---|---|---|---|---|---|---|
|RAIN|RAIN.O|Rain Enhancement|2023 Q3|17.068502707047422|385969|185|
|RAIN|RAIN.O|Rain Enhancement|2023 Q4|-422.4153869174115|-3512203|185|
|RAIN|RAIN.O|Rain Enhancement|2024 Q1|-94.85258579023683|65604|185|
|RAIN|RAIN.O|Rain Enhancement|2024 Q2|-147.5572956684807|-672804|185|

1. **Net Loss Increase**: Although not directly from operating income, Rain City Resources Inc., the parent company of Rain Enhancement, reported a net loss of CAD 0.011626 million for Q2 2024, compared to CAD 0.106273 million a year ago. This increase in net loss could indicate broader financial struggles that might impact operating income.
2. **Revenue Decline**: The company's consolidated net revenue decreased by 14% to $12.1 million in Q2 2024, compared to the same period in the previous year. This reduction in revenue might lead to a decrease in operating income if costs are not similarly reduced.

In summary, the decline in Rain Enhancement's operating income is likely a result of a combination of factors including net loss increase and revenue decline.