Viewbix Inc. reported a significant decline in financial performance for the three months ended March 31, 2025, with revenues totaling $2.73 million, a decrease of 72.7% from $10.00 million in the same period last year. The company's net loss for the quarter was $3.84 million, compared to a loss of $1.18 million in the prior year. This downturn is attributed primarily to the adverse effects of changes in the digital advertising landscape, particularly impacting its Cortex Media subsidiary, which faced a significant customer withdrawal from its advertising platforms.
The company’s operational metrics reflected a sharp decline in user engagement, with search referrals from its direct model dropping to 6.3 million from 24.7 million year-over-year. This reduction is linked to updates in internet browser technology that have limited the distribution of Viewbix's products. Additionally, the indirect model, which previously generated $1.38 million in revenue, reported no income during the latest quarter, further compounding the revenue shortfall.
Strategically, Viewbix has made notable changes, including the acquisition of Metagramm Software Ltd. for $5.16 million, which was finalized on March 24, 2025. This acquisition aims to enhance Viewbix's capabilities in developing advanced writing assistance tools. However, the company is also grappling with financial challenges, including a petition for insolvency filed against its subsidiary Gix Media, which could have serious implications for its operations and financial stability.
As of March 31, 2025, Viewbix had current assets of $6.51 million, including $181,000 in cash, while current liabilities stood at $15.36 million, resulting in a negative working capital of $8.84 million. The company has implemented cost-cutting measures, including reductions in salaries and operational expenses, and is exploring new partnerships to generate additional revenue. Despite these efforts, there remains substantial uncertainty regarding its ability to continue as a going concern, particularly in light of the ongoing conflict in Israel and its impact on business operations. The company is actively pursuing an uplisting to a national securities exchange, which it hopes will provide additional funding opportunities.
About Viewbix Inc.
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