AppTech Payments Corp. reported revenues of $43,000 for the third quarter ended September 30, 2024. This represents a decrease from $140,000 in the same period of 2023, reflecting a strategic adjustment to prioritize long-term platform development over short-term merchant processing revenue.
The company demonstrated improved operational efficiency, with total operating expenses for Q3 2024 decreasing to $1.9 million from $3.0 million in Q3 2023. This reduction was attributed to disciplined cost management and expense reductions.
As a result of these efforts, AppTech's net loss narrowed to $2.0 million for the third quarter of 2024, compared to a net loss of $2.9 million in Q3 2023. During the quarter, the company also raised $0.9 million through a convertible note and $1.0 million from warrant exercises to support its growth initiatives.
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