Steer Technologies (TSE:STER) has released an update.
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Steer Technologies Inc. reports a Q1 2024 revenue of $511,100, a sharp decrease from the previous year, but with a healthy gross margin of 52% despite one-time legal and restructuring costs. With its shift from Facedrive branding to STEER and a narrowed focus on contract last-mile delivery, the company anticipates future growth and shareholder value. Meanwhile, STEER is actively seeking buyers for its majority stake in FoodsUp Inc. and other assets as part of its strategic divestment plan.
For further insights into TSE:STER stock, check out TipRanks’ Stock Analysis page.
