Femto Technologies Q3 2024: Revenue Down 7%, Net Loss Rises 276% YoY

Femto Technologies, a subsidiary of BYND Cannasoft Enterprises, reported a challenging Q3 2024 with a 7% drop in revenue and a 276% YoY increase in net loss. Despite this, the company is making strategic moves, including receiving its first shipment of Sensera devices and entering its flagship product into the CES 2025 Innovation Awards.

Femto Technologies, a subsidiary of BYND Cannasoft Enterprises, reported a challenging third quarter in 2024, with a 7% decline in revenue and a staggering 276% year-over-year increase in net loss [1]. Despite these financial hurdles, the company is making strategic moves to bolster its position in the market.

To regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, Femto announced a 1-for-17 reverse stock split effective August 26, 2024 [1]. This reverse split reduces the number of issued and outstanding common shares from approximately 11,051,480 to approximately 650,087. The move affects all stockholders uniformly and does not alter their relative interest in the company's equity securities.

Amid these financial challenges, Femto received its first shipment of Sensera devices and entered its flagship product into the CES 2025 Innovation Awards [2]. The Sensera devices, a vital part of Femto's Smart Release Technology, offer advanced sensing capabilities that can detect various health parameters in real-time. This achievement underscores Femto's commitment to revolutionizing female health and wellness.

As Femto Technologies continues to navigate the challenges of the market, it remains focused on its mission to become a leader in transformative change for women. With the recent reverse stock split and strategic advancements, the company is well-positioned to capitalize on opportunities and emerge stronger in the future.

References:
[1] The Newswire. (August 16, 2024). Femto Technologies Announces 1-for-17 Reverse Stock Split to Regain Compliance with Nasdaq Listing Requirements. https://www.thenewswire.com/press-releases/detail/1kWVF4Y2X
[2] Femto Technologies. (November 15, 2024). Femto Technologies Announces First Shipment of Sensera Devices and Entry into CES 2025 Innovation Awards. https://femtotec.com/news/press-releases/femto-technologies-announces-first-shipment-of-sensera-devices-and-entry-into-ces-2025-innovation-awards