Stonemor Inc
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Consumer Discretionary : Diversified Consumer Services | Small Cap Value
Company profile

Stonemor Inc. is a provider of funeral and cemetery products and services in the death care industry. The Company's segments include Cemetery Operations and Funeral Home Operations. Cemetery Operations segment consists of sale of cemetery merchandise, which includes markers, bases, vaults, caskets and cremation niches and its cemetery services, which include opening and closing services, cremation services and fees for the installation of cemetery merchandise. Funeral Home Operations segment consists of sales of funeral home merchandise, which includes caskets and other funeral related items and service, which include services such as family consultation, the removal of and preparation of remains and the use of funeral home facilities for visitation and prayer services. Funeral Home Operations segment also include the sale of term and whole life insurance on an agency basis, in which it earn a commission from the sales of these insurance policies.

Closing Price
$2.50
Day's Change
-0.02 (-0.79%)
Bid
--
Ask
--
B/A Size
--
Day's High
2.58
Day's Low
2.45
Volume
(Heavy Day)
Volume:
145,271

10-day average volume:
100,664
145,271

Sphere 3D Reports Second Quarter Fiscal Year 2021 Financial Results

5:08 pm ET August 16, 2021 (Newsfile) Print

Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - Sphere 3D Corp. (NASDAQ: ANY) (the "Company" or "Sphere 3D"), a company delivering containerization, virtualization, and data management solutions, today reported financial results for its second quarter ended June 30, 2021.

Second Quarter 2021 Financial Results:

Our results for second quarter 2021 were as follows:

  • Revenue was $0.9 million in the both the second quarters of 2021 and 2020.

  • Gross margin for second quarter of 2021 was 43.7%, compared to 49.6% for the second quarter of 2020.

  • Operating expenses for second quarter of 2021 were $3.9 million, compared to $2.4 million for the second quarter of 2020.

  • Depreciation and amortization was $0.2 million for both the second quarter of 2021 and 2020.

  • Net loss available to common shareholders for second quarter of 2021 was $3.0 million, or a net loss of $0.19 per share, compared to a net loss available to common shareholders of $1.9 million, or a net loss of $0.41 per share, for the second quarter of 2020.

  • Net loss, before dividends on preferred shares, for the second quarter of 2021 was $2.9 million.

  • Dividends on preferred shares for the second quarter of 2021 was $169,000 compared to nil for the second quarter of 2020.

Six Months Ended June 30, 2021 Financial Results:

  • Revenue for the first six months of 2021 was $1.8 million, compared to $1.9 million for the first six months of 2020.

  • Gross margin for the first six months of 2021 was 44.8%, compared to 47.6% for the first six months of 2020.

  • Operating expenses for the first six months of 2021 were $5.6 million, compared to $4.0 million for the first six months of 2020.

  • Depreciation and amortization for the first six months of 2021 was $0.3 million, compared to $0.5 million in the first six months of 2020.

  • Net loss available to common shareholders for the first six months of 2021 was $5.6 million, or a net loss of $0.44 per share, compared to a net loss available to common shareholders of $3.0 million, or a net loss of $0.70 per share, in the first six months of 2020.

  • Net loss, before dividends on preferred shares, for the first six months of 2021 was $5.3 million.

  • Dividends on preferred shares for the first six months of 2021 was $362,000 compared to nil for the first six months of 2020.

Investor Conference Call:

Sphere 3D will not be hosting a second quarter fiscal year 2021 earnings conference call.

About Sphere 3D:

Sphere 3D Corp. (NASDAQ: ANY) delivers containerization, virtualization, and data management solutions via hybrid cloud, cloud and on-premise implementations through its global reseller network and professional services organization. Sphere 3D has a portfolio of brands, including HVE ConneXions, UCX ConneXions, and SnapServer® dedicated to helping customers achieve their IT goals. For more information, visit www.sphere3d.com. Follow us on Twitter @Sphere3D and @HVEconneXions.

Safe Harbor Statement:

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions that are difficult to predict. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties including, without limitation, our inability to obtain additional debt or equity financing; any increase in our cash needs; the Company's ability to maintain listing with the NASDAQ Capital Market; market adoption and performance of our products; the level of success of our collaborations and business partnerships; possible actions by customers, partners, suppliers, competitors or regulatory authorities; and other risks detailed from time to time in our periodic reports and other filings with the United States Securities and Exchange Commission (www.sec.gov) and with Canadian securities regulators (www.sedar.com). Sphere 3D undertakes no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.

Investor Contact:

Kurt Kalbfleisch

+1-858-495-4211

Investor.relations@sphere3d.com

 SPHERE 3D CORP. 
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 
 (In thousands, except share and per share data) 
            
            
            
     Three Months Ended    Six Months Ended 
    June 30,  June 30,
    2021 2020  2021 2020
     (Unaudited)      (Unaudited)    
 Revenue.............................................................................................................    $            894   $          891     $        1,834 $          1,901
 Cost of revenue..................................................................................................                      503                 449               1,012                996
 Gross profit......................................................................................................                    391                 442                  822                905
             
 Operating expenses:            
  Sales and marketing..................................................................................................                    407                 232                  711                536
  Research and development..................................................................................................                    269                 344                  506                683
  General and administrative......................................................................                 3,257              1,832               4,422                2,816
                  3,933              2,408               5,639             4,035
 Loss from operations..................................................................................................               (3,542)            (1,966)              (4,817)           (3,130)
  Interest expense - related party.........................................................................................                         -               (118)                 (496)              (118)
  Interest expense.........................................................................................                      (6)                 (76)                   (19)                (85)
  Other income, net...........................................................................................                    667                 217                    79                287
 Loss before income taxes..............................               (2,881)            (1,943)              (5,253)           (3,046)
 Provision for income taxes................................................................................                         -                     3                       -                    3
 Net loss..............................               (2,881)            (1,946)              (5,253)           (3,049)
 Dividends on preferred shares..............................                    169                    -                    362                  -  
 Net loss available to common shareholders..............................   

$       (3,050)  $    (1,946)   $      (5,615)  $      (3,049)
             
 Net loss per share:           
  Basic and diluted..............................    $         (0.19)  $      (0.41)   $        (0.44)      (0.70)
 Shares used in computing net loss per share:            
  Basic and diluted...............................................................................................        15,990,564       4,804,562      12,724,287 4,376,108

 

To view an enhanced version of this graphic, please visit:

https://orders.newsfilecorp.com/files/1705/93293_6b0713949433994d_002full.jpg.

 SPHERE 3D CORP. 
 CONDENSED CONSOLIDATED BALANCE SHEETS 
 (In thousands) 
           
       
    June 30, December 31,
    2021 2020
     (Unaudited)   (Unaudited) 
 ASSETS      
 Cash and cash equivalents......................................................................      $                4,584  $             461
 Accounts receivable, net.....................................................................                           205                        264
 Inventories........................................................................................                           501                        558
 Other current assets.....................................................................................                           990                        807
  Total current assets.....................................................................                        6,280                     2,090
 Note receivable..................................................................................                        3,354                     3,207
 Investment............................................................................................                        2,100                     2,100
 Intangible assets, net....................................................................................                        2,310                     2,608
 Goodwill....................................................................................................                        1,385                     1,385
 Other assets.............................................................................................                           367                        443
  Total assets....................................................................................    $            15,796  $         11,833
       
       
 LIABILITIES AND SHAREHOLDERS' EQUITY      
 Current liabilities..................................................................................   $               3,274  $          5,805
 Long-term debt..................................................................................                           449                        672
 Other long-term liabilities.....................................................................                           161                        347
 Total shareholders' equity.........................................................................                      11,912                     5,009
  Total liabilities and shareholders' equity.....................................................................   $            15,796 $11,833

 

To view an enhanced version of this graphic, please visit:

https://orders.newsfilecorp.com/files/1705/93293_6b0713949433994d_003full.jpg.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93293.

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