Trident Digital Tech Holdings Ltd. (NASDAQ: TDTH) announced its unaudited financial results for the six months ended June 30, 2024, on November 22, 2024, reporting total revenues of US$378,839. This represents a 21.27% decrease from US$481,165 in the same period of 2023.
The decline was attributed to a strategic shift towards prioritizing its Web 3.0 e-commerce platform, Tridentity, and allocating fewer resources to its consulting and IT customization business. Gross profit for the period decreased to US$0.02 million from US$0.09 million in H1 2023, with the gross profit margin falling to 4.9% from 19.0%.
The company's flagship Tridentity platform, launched in December 2023, generated US$1,872 in revenue from technical support for event ticket sales during the first half of 2024. Selling and marketing expenses slightly increased to US$264,326, primarily due to hiring additional business development personnel for Tridentity.
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