Somehow, they managed to go even further backwards in China. So much for the 'China reset'.
Here are quarterly revenue figures for China.
3Q23 - $3.2M
4Q23 - $1.4M
1Q24 - $3.8M
2Q24 - $4.2M (back on track right?)
3Q24 - $2.3M (...nope, false alarm).
That is a massive 47% quarter-to-quarter drop in China revenue from Q2 to Q3 this year.
And that is after the most recent investor presentation one month ago contained the following "Despite a slow start to the year, we expect China to grow strongly in H2". I mean seriously, that has got to be deliberately misleading investors.
They also 'expect' to be cashflow positive next year.
Somehow, they managed to go even further backwards in China. So...
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