AgileThought Inc - Class A

Announcement: AGIL 8-K Special Filing

Form 8-K - Current report - Item 1.01 Item 9.01

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Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Announcement: AGIL 10-Q Quarterly Report

AgileThought, a global provider of digital transformation services, custom software development, and next-generation technologies, reported its financial results for the first quarter ended March 31, 2023. The company witnessed a decline in revenue, which stood at $41.8 million, down 5.4% from Q1 2022 and 2.3% from Q4 2022. The company attributed this decline to the exit from non-core revenues and market volatility since mid-March. However, gross margin increased to 34%, a 290 basis points increase YoY, indicating a gross profit increase of 3% from Q1 2022 and a 5% increase from Q4 2022.

The company reported the addition of four new clients during the quarter and announced that it has been gradually exiting non-core revenues and small non-strategic accounts to improve its gross margin and revenue growth.

AgileThought's CEO, Manuel Senderos, stated that he is proud of the company's first-quarter achievements and looks forward to continuing to enhance relationships with new and current clients.

However, the company is currently in default with respect to its principal financing arrangements, and there is substantial doubt about its ability to continue its operations as a going concern. The company is currently evaluating strategies to obtain the required additional funding for future operations.

Looking ahead, the company expects its revenue for the full year of 2023 to be at least $185.0 million, and its gross margin for the full year 2023 to be in the range of 34% to 35%.

Overall, AgileThought's financial report indicates some challenges, including declining revenue and defaulting on principal financing arrangements. However, the company's efforts to exit non-core revenues and small non-strategic accounts are expected to improve its gross margin and revenue growth. Investors should monitor the company's financial situation closely and evaluate its ability to obtain additional funding to continue operations.

Form 8-K - Current report - Item 2.02 Item 9.01

$AGIL reports decline in Q1 2023 revenue, attributed to exit from non-core revenues and market volatility, but gross margin increases to 34%. The company adds four new clients and is gradually exiting non-core revenues, but faces default on financing arrangements and doubts about its ability to continue operations as a going concern. The company expects revenue of at least $185.0 million and gross margin range of 34% to 35% for the full year 2023. Investors should monitor the company's financial situation closely.

Form 8-K - Current report - Item 5.02 Item 9.01