The company states: “We are pleased to announce that our efforts to reduce expenses, including our decision to focus on our AI/ML Software Platform and suspend our hardware product development efforts and the two reductions in force announced in 2023, have resulted in a 73% decrease in operating expenses, including restructuring charges, and 81% decrease in net loss in the second quarter 2024 as compared to the second quarter 2023, and a 66% decrease in operating expenses, including restructuring charges, and 75% decrease in net loss in the first half 2024 as compared to the first half 2023. As a result, we have been able to dramatically reduce our use of cash, ending the second quarter of 2024 with a cash (including cash equivalents and marketable securities) balance of $25.8 million. Revenues increased by 112% in the second quarter of 2024 as compared to the second quarter of 2023 and increased by 72% in the first half of 2024 as compared to the first half of 2023. The increase in the second quarter of 2024 as compared to the second quarter of 2023 was due to accelerated progress on and completion of certain milestones in our product development contracts. The increase in the first half of 2024 was primarily due to legacy product sales in the first quarter of 2024.”