Tantech Holdings Clocks ~31% Sales Growth In FY21

Tantech Holdings Ltd (NASDAQ:TANH) reported FY21 sales growth of 30.7% year-on-year, to $55.26 million.
The revenue increase was driven mainly by consumer products due to higher sales volume from existing and new customers.
Revenue from the company's EV segment increased 382.4% to approximately $1.9 million in fiscal 2021.
The gross profit jumped 133% Y/Y to $10.4 million and the gross margin expanded by 830 basis points to 18.9%.
Operating expenses for the year rose 27.8% to $18.9 million. The operating loss was $(8.5) million.
The company held $43.6 million in cash and equivalents as of December 31, 2021.
EPS loss was $(2.01) versus $(2.21) last year.
Price Action: TANH shares are trading higher by 58.8% at $0.41 on the last check Monday.
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