RE:RE:RE:RE:RE:RE:only hot air here is joseDuring the three months ended March 31, 2020, the Company’s operating expenses, excluding restructuring charges, decreased to $15.4 million (December 31, 2019: $19.8 million), a reduction of 23%. The cost efficiencies were driven by a decrease in wages and benefits of 30%, decrease in facility costs of 12%, decrease in sales, marketing and business development expense of 63%, decrease in professional fees of 22% and a decrease in general and administrative expenses of 17%. During the three months ended March 31, 2020, the Company incurred $2.1 million in onetime restructuring costs as part of the Company’s efforts to reduce headcount and optimize its cost structure. The cost savings are a result of the realigned and rightsized operating model that has delivered immediate substantial cost savings. The Company continues to realize efficiencies and retain its focus on cost savings and nearterm revenue growth.
Just read the md&a which was clearly explained as to the costs. It’ll also tell you of the decrease in operating expenses as a result of cost cutting measures.
Take that for what it’s worth.