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Renren reports Q1 results

May 17, 2023 4:35 PM ETMoatable, Inc. (MTBL) StockBy: Pranav Ghumatkar, SA News Editor
  • Renren press release (NYSE:RENN): Q1 Revenue of $12.15M (+17.7% Y/Y).
  • Gross profit increased 20% over Q1 2022 to $9.4 million; gross profit margin increased from 76% in Q1 2022 to 78%
  • Loss from operations improved from a loss of $4.8 million in Q1 2022 to a loss of $3.4 million
  • Net cash used by operating activities of $2.8 million the first quarter of 2023 compared to $1.8 million used during the first quarter of 2022
  • Total cash & cash equivalents and short-term investments of $49.9 million as of the end of Q1 2023.

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