Read How Sigma Labs Performed In Q2

  • Sigma Labs Inc SASI reported second-quarter revenue growth of 64.2% year-over-year to $237 thousand, beating the consensus of $110 thousand.
  • EPS loss was $(0.22) compared to $(0.18) in 2Q21, above the consensus of $(0.25).
  • The gross margin contracted 86 bps to 18.4%. Q2 loss from operations widened to $(2.24) million, from $(2.14) million in 2Q21.
  • Sigma Lab's net cash used in operating activities year-to-date totaled $(4.31) million, compared to $(3.27) million a year ago.
  • The company held cash of $6.93 million as of June 30, 2022.
  • The current order backlog for Q3 is total revenue of $240 thousand which consists of a mix of subscriptions and perpetual sales. The remaining revenue to be recognized related to year-to-date 2022 transactions is ~$30,000.
  • "We believe a revenue tail is beginning to develop that will help us increase our foundational level and begin to make revenue more predictable over time, with a current backlog of orders which consists of a mix of subscriptions and perpetual sales," stated CEO Jacob Brunsberg.
  • Price Action: SASI shares are trading lower by 7.57% at $1.22 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsNewsPenny StocksMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!