In Q2 2024, the Company's revenue from customer sales amounted to $213,936, marking a 35% increase compared to the total revenue from customers of $158,017 in the same period of 2023. This positive variation is a result of the Company delivering volume production orders to customers, aligned with the strategic shift from R&D to customer products. As the Company continues to pursue revenue growth, it expects to reinforce its position and create further commercial success through necessary product optimization and scaling efforts throughout 2024. During Q2 2024, income from European Union (EU) funding was $19,652, a 60% decrease compared to the prior year, with most of the European projects coming to an end. This decrease is a result of the intentional focus of Ynvisible in allocating its full resources to product development and production scale-up activities, and carefully choosing any new projects, to ensure alignment with its strategy and long-term goals. The Company’s total revenue and other income for Q2 2024 was $386,740, a decrease of 14% from Q2 2023, of $450,820. Total income & gains include customer sales, EU co-funded project grants, and other income and gains, such as interest and other minor sources. In Q2 2024, the cost of sales amounted to $210,021, reflecting a 50% increase compared to $140,190 in the previous year.
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