Executive Summary

Q3 2024 consolidated revenue was $5.54M (flat q/q, -20% y/y), with gross profit of $2.50M and gross margin of 45.1% (up from 25.6% in Q2), while net loss widened to $(4.51)M driven by derivative-related items and loss on settlements . Boston Solar (subsidiary) posted positive EBIT of $0.42M and gross margin of 45.1% on $5.54M total income (unaudited, non‑GAAP) .
No company quantitative guidance was issued. Management highlighted margin recovery and cost actions at Boston Solar; industry commentary cites SEIA’s 2025 residential growth outlook, not company guidance .
Prior quarters show volatility: Q2 2024 revenue $5.45M but heavy loss (EPS $(45.97)), margin 25.6%; Q1 2024 revenue $4.14M, margin 44.8%, EPS $(0.37) .
Stock catalysts: sustained margin improvement and Boston Solar EBIT positivity versus headwinds from severe liquidity constraints (cash ~$0.06M at 9/30) and Cboe BZX delisting (effective Sept 10, 2024), plus material derivative liabilities .

What Went Well and What Went Wrong

What Went Well
- Consolidated gross margin rebounded to 45.1% in Q3 from 25.6% in Q2; gross profit rose to $2.50M on $5.54M revenue . “We are encouraged by the progress...especially the improvement in Gross Margin to 45.1% and the positive Net Operating Income of $418,196” – CEO Wil Ralston (re: Boston Solar) .
- Boston Solar achieved positive EBIT ($418k; 7.5% margin) and improved gross margin to 45.1% via restructuring and cost reductions; EBITDA turned positive (non‑GAAP) .
- Sequential stabilization in revenue (Q2→Q3: $5.45M to $5.54M) while loss from operations narrowed to $(0.97)M from $(4.59)M .
What Went Wrong
- Net loss remained elevated at $(4.51)M in Q3 due to loss on settlements and derivative liability impacts despite stronger gross margin .
- Liquidity stress: cash fell to ~$0.06M at 9/30; working capital deficit ~$(15.6)M; management flagged substantial doubt about going concern .
- Capital markets overhang: delisted from Cboe BZX (suspension after Sept 10, 2024) and ongoing internal control material weaknesses; no numerical guidance to anchor expectations .

Financial Results

Consolidated results (oldest → newest)

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Revenue ($)	$6,914,934	$4,136,412	$5,447,937	$5,539,939
Gross Profit ($)	$2,067,435	$1,852,159	$1,396,054	$2,499,681
Gross Margin (%)	29.9% (calc. from reported)	44.8% (calc.)	25.6% (calc.)	45.1% (calc.)
Loss from Operations ($)	$(1,108,124)	$(2,351,717)	$(4,589,560)	$(965,719)
Net Income (Loss) ($)	$(1,355,700)	$(2,857,905)	$(9,882,556)	$(4,513,326)
Diluted EPS ($)	$(541.02)	$(0.37)	$(45.97)	$(0.83)

Consensus vs actual (company-wide)

Revenue (Q3 2024): Actual $5.54M ; Consensus: Not available from S&P Global for SING (no CIQ mapping returned).
EPS (Q3 2024): Actual $(0.83) ; Consensus: Not available from S&P Global.

Boston Solar (subsidiary) – Q3 FY24 vs Q3 FY23 (unaudited, non‑GAAP where noted)

Metric	Q3 2024	Q3 2023
Total Income ($)	$5,539,939	$6,853,405
Gross Profit ($, %)	$2,500,773 (45.1%)	$2,045,602 (29.8%)
EBITDA (non‑GAAP) ($, %)	$529,431 (9.6%)	$(19,445) (−0.3%)
Net Operating Income (EBIT) ($, %)	$418,196 (7.5%)	$(366,595) (−5.3%)
Net Income ($, %)	$(103,363) (−1.9%)	$(375,440) (−5.5%)

KPIs and operations (Boston Solar)

Installed projects throughput increased from 4–6 per week to 8+ per week .

Disaggregation/Segments

The company does not present reportable segments; revenues are primarily services from Boston Solar, with non‑core retail at Box Pure Air; disaggregation categories are described, not quantified in Q3 2024 .

Guidance Changes

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY/Q4	None provided	None provided	Maintained (no formal guidance)
Margins	FY/Q4	None provided	None provided	Maintained (no formal guidance)
OpEx, OI&E, Tax Rate, Segment	FY/Q4	None provided	None provided	Maintained (no formal guidance)

Notes: Management referenced industry projections (SEIA: residential +21% in 2025) but did not issue company-specific quantitative guidance ranges .

Earnings Call Themes & Trends

No Q3 2024 earnings-call transcript was available in our system; themes below reflect filings and press releases.

Topic	Previous Mentions (Q1 & Q2)	Current Period (Q3)	Trend
Macro/Interest Rates	Noted turbulence from high rates impacting residential/commercial solar; reorientation of marketing and sales to drive leads .	Commentary cites SEIA forecast for 2025 rebound after 2024 contraction; Boston Solar showed margin improvement despite downturn .	Cautious optimism on market recovery; internal traction on cost/mix.
Operations & Cost Actions	Q1: SG&A down vs prior year (no preferred-stock service expense recurrence); restructuring actions at Boston Solar . Q2: Higher SG&A on stock-for-services and professional fees; margin pressure .	Boston Solar positive EBIT; 45.1% gross margin; throughput increased to 8+ installs/week .	Efficiency measures evidencing in margins/throughput.
Capital Markets/Listing	Q1/Q2: Notices on minimum bid price, filing delays; panel hearing risk .	Cboe BZX Panel denied extension; suspension and delisting after Sept 10, 2024 .	Deteriorated—now delisted from Cboe BZX.
Liquidity/Going Concern	Q1: Cash ~$0.53M; going concern disclosure . Q2: Cash ~$0.25M; going concern persists .	Cash ~$0.06M; working capital deficit ~$15.6M; substantial doubt continues .	Worsened liquidity.
Regulatory/Legal	Massachusetts clean energy mandates as growth driver (CEO note) .	Use of 3(a)(10) settlement shares to resolve ~$2.5M vendor liabilities (pending court approval) .	Balance sheet cleanup efforts via equity settlements.
Internal Controls	Material weaknesses persisted (no audit committee; segregation of duties) .	Material weaknesses persist as of Q3 .	Unchanged; remediation not yet evident.

Management Commentary

“We are encouraged by the progress made...especially the improvement in Gross Margin to 45.1% and the positive Net Operating Income of $418,196.” – Wil Ralston, CEO (Boston Solar Q3) .
“These results validate the transformative steps we’ve taken to revitalize operations, enhance efficiency, and build a stronger foundation for sustainable growth.” – Wil Ralston .
Strategic focus areas cited: profitability, operational efficiency (workflow optimization), and positioning for future industry growth (SEIA 2025 outlook) .

Q&A Highlights

No earnings call transcript was available for Q3 2024 in our system; no Q&A themes to report.

Estimates Context

S&P Global (Capital IQ) consensus estimates for Q3 2024 revenue and EPS were unavailable for SING in our system (no CIQ mapping returned). Actuals: Revenue $5.54M and EPS $(0.83) .
Given the lack of consensus data, we cannot assess beat/miss versus Wall Street for Q3 2024.

Key Takeaways for Investors

Margin inflection but earnings still pressured: Consolidated gross margin recovered to 45.1% and Boston Solar posted positive EBIT; however, below-the-line items (derivatives/settlements) kept net loss high .
Liquidity is the central risk: ~$0.06M cash at quarter-end and large working capital deficit; going concern language persists—funding and balance sheet actions remain critical .
Market/listing headwinds: Delisted from Cboe BZX in Sept 2024, adding capital markets friction; internal control weaknesses persist .
Execution matters: Cost and throughput gains at Boston Solar drove margin improvement—sustaining this trajectory while managing corporate costs is key to narrowing losses .
Settlement strategy: The 3(a)(10) settlement aims to retire ~$2.5M payables without cash, but is equity‑dilutive and contingent on court approval; monitor dilution and derivative liabilities .
Near-term: Expect focus on liquidity (financing, settlements), maintaining higher-margin mix, and further operating cost discipline; absence of guidance implies higher uncertainty .
Medium-term: If industry volumes normalize (SEIA’s 2025 view) and Boston Solar maintains efficiency, the margin framework could support improved operating results, contingent on capital structure repair and controls remediation .

Sources

Q3 2024 10-Q (quarter ended Sept 30, 2024): revenue, margins, loss, liquidity, controls, listing outcomes .
Q2 2024 10-Q (quarter ended Jun 30, 2024): prior-quarter comps, SG&A/margin context, listing notices .
Q1 2024 10-Q (quarter ended Mar 31, 2024): earlier comps, going concern .
Q3 2024 8-K/Press Release – Boston Solar (EX‑99.1): Boston Solar Q3 performance (non‑GAAP) and management quotes .
CEO shareholder update (July 24, 2024): market/strategy backdrop .

SinglePoint Inc. (SING)·Q3 2024 Earnings Summary