Vividthree Holdings has reported a reduced loss of $1.34 million for 1HFY2023 ended Sept 30, compared to $1.81 million in the red this time last year.
The improved showing can be attributed to better operating performance, with revenue up 53.6% y-o-y to $1.8 million, led by more revenue booked in the company's post-production segment
"We will continue to work on our roadmap to recovery and take the right steps to scale, innovate, and grow our business in the years ahead," says Jonathan Zhang, who took over as the CEO on Aug 22. He was previously the deputy CEO.
Going forward, Vividthree is "cautiously optimistic" about its continued recovery in the post-production segment, citing how clients' interests have "improved meaningfully".
The company is in "preliminary discussions" with clients on possible projects as "the industry is taking a measured approach to crystallise its pipeline."
"We hope to capture the rising demand for sophisticated content production services, generate new value propositions as well as business models and
enhance the long-term durability of our business," says Zhang.
See also: Trump wins Republican nomination, setting up rematch with Biden
Vividthree shares closed Nov 11 at 3.5 cents, up 6.06% for the day but halved year to date.
