Top-News
Donnerstag,
13.05.2021 22:35
von
PR Newswire
| Aufrufe: 135
Bsquare Announces First Quarter 2021 Financial Results
Wirtschaftsnachrichten (Symbolbild)
©unsplash.com
PR Newswire
SEATTLE, May 13, 2021
SEATTLE, May 13, 2021 /PRNewswire/ -- Bsquare Corporation (NASDAQ: BSQR) today announced financial results for the first quarter of 2021. Revenue was $10.0 million, a decrease of 10% compared to the fourth quarter of 2020. Net loss was $0.9 million compared to a net loss of $0.2 million in the fourth quarter of 2020. Cash decreased $2.6 million from December 31, 2020. EBITDAS, a non-GAAP measure, decreased $0.7 million compared to fourth quarter 2020.
"Our business building continued in Q1 2021. We invested, as planned, at the intersection of our Partner Solutions and Edge-to-Cloud business segments where our customers' problems and our IoT operations expertise create opportunities for growth," said Ralph C. Derrickson, CEO and President of Bsquare. "The increasing pace of digital transformation, growing complexity of IoT operations, and progress with our large IoT customers are the basis for our continued optimism."
Bsquare also announced today that, due to increasing professional commitments, board Chairperson Andrew Harries plans to resign from the Bsquare Board of Directors. He will continue to serve until the annual shareholder meeting on June 10, 2021. Ryan Vardeman, Principal of Palogic Value Management, LP ("Palogic"), the general partner of our largest shareholder, will succeed Andrew Harries as Chairperson of the Board. Bsquare is taking this opportunity to streamline the board by reducing its size from seven directors to five. In order to enable this change, Rob Peters, a Principal at Palogic, will also step down effective June 10, 2021.
"It has been a pleasure to serve on the Bsquare board," said Andrew Harries. "I am confident that the company is in good hands with Ralph as CEO and Ryan as its new board chair."
Adds Derrickson: "I want to thank Andrew and Rob for their commitment and service to Bsquare. Our business is in a better place today because of their insights and leadership."
First Quarter 2021 Results Compared to Fourth Quarter 2020
- Revenue for Q1 2021 was $10.0 million, a decrease of $1.1 million, or 9.9%, from Q4 2020.
- Revenue decreased slightly in the Partner Solutions segment largely as a result of fewer shipping days in the quarter. In the Edge to Cloud segment, the decline in quarter-over-quarter revenue resulted from one-time revenue items in Q4 2020 not recurring in Q1 2021.
- Partner Solutions gross margin rate was 15.2%, a decrease from Q4 2020 due to minor fluctuations in product mix. Edge to Cloud gross margin rate decreased from Q4 2020 which had benefited from one-time revenue with relatively high margins.
- Net loss for the current quarter was $0.9 million, or $(0.07) per diluted share, compared to a net loss of $0.2 million, or $(0.02) per diluted share, in Q4 2020.
- EBITDAS was a loss of approximately $0.6 million, a $0.7 million decline compared to EBITDAS of $0.1 million in Q4 2020.
- Cash, cash equivalents and restricted cash totaled $10.4 million on March 31, 2021. The timing of payments to Microsoft and other vendors typically drives Q1 cash use; the decrease in cash of $2.6 million from December 31, 2020 is not indicative of future quarters' cash requirements.
Details as follows (unaudited, in thousands except percentages and per share amounts):
| | | Three Months Ended | | |||||||||||||||||
| | | March 31, | | | December | | | Quarter- | | | March 31, | | | Year-over- | | |||||
| Revenue: | | | | | | | | | | | | | | | | | | | | |
| Partner Solutions | | $ | 8,795 | | | $ | 9,097 | | | $ | (302) | | | $ | 15,905 | | | $ | (7,110) | |
| Edge to Cloud | | | 1,177 | | | | 1,974 | | | | (797) | | | | 824 | | | | 353 | |
| Total revenue | | | 9,972 | | | | 11,071 | | | | (1,099) | | | | 16,729 | | | | (6,757) | |
| Total gross profit | | $ | 1,593 | | | $ | 2,205 | | | $ | (612) | | | $ | 2,585 | | | $ | (992) | |
| Gross margins (1): | | | | | | | | | | | | | | | | | | | | |
| Partner Solutions | | | 15 | % | | | 16 | % | | | (1) | % | | | 17 | % | | | (2) | % |
| Edge to Cloud | | | 22 | % | | | 39 | % | | | (17) | % | | | (20) | % | | | 42 | % |
| Total gross margin | | | 16 | % | | | 20 | % | | | (4) | % | | | 15 | % | | | 1 | % |
| Total operating expenses | | | 2,444 | | | | 2,407 | | | | 36 | | | | 3,024 | | | | (581) | |
| Net loss | | | (860) | | | | (206) | | | | (654) | | | | (474) | | | | (386) | |
| Per diluted share | | | (0.07) | | | | (0.02) Werbung Mehr Nachrichten zur Bsquare Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1  Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News
18.05.24 - Small- & Micro Cap ...
18.05.24 - Small- & Micro Cap ...
| |||||||||||||
