STOCKS TELEGRAPH

Category: Mid Day Movers

  • Why has ATA Creativity Global (AACG) stock declined today?

    ATA Creativity Global (AACG) stock declined in the intraday session following the announcement of second-quarter 2021 financial results yesterday. AACG stock saw a decline of 5.00% to drop at $2.66 a share as of this writing. The stock was also gloomy in the previous trading session and went down by 4.76% at closing. ATA Creativity Global is an educational services provider to individual students in China.

    Second Quarter 2021 Financial Results:

    • AACG stock reported net revenue of RMB36.8 million in Q2,2021, 39.4% higher as compared to RMB26.4 million in Q2,2020.
    • Gross profit for the profit significantly increased by 142.4% to reach RMB16.0 million as compared to RMB6.6 million in Q2,2020.
    • ACG stock spent RMB39.8 million in operating expenses, 11.9% lower than RMB45.2 million in the same period of the prior year.
    • Loss from operation in the reported quarter improved to RMB23.8 million while it was RMB38.5 million in Q2,2020.
    • AACG stock reported a net income of RMB14.1 million as compared to a net loss of RMB32.1 million in the same prior-year quarter.
    • ACG stock reported RMB0.21 (US$0.03) for both basic and diluted earnings per share in the reported quarter. In the previous year same quarter, basic and diluted losses per common share were RMB0.54

    Financial Review of First half 2021:

    • Total revenues for the first half were  RMB74.4 million, 25.9% higher than the same period of the previous year.
    • Gross profit for AACG stock increased by 67.4% to reach RMB30.8 million as compared to Q1,2020.
    • ACG stock reported RMB77.9 million operating expenses in the first half of 2021, 6.9% lower than the same period of the previous year.
    • AACG stock suffered an RMB47.1 million loss from operations for the first half, lower than RMB65.0 million in the same prior-year period.
    • Net loss significantly improved to RMB4.9 million from RMB52.5 million in the first half of 2020.
    • ACG stock’s basic and diluted losses per common share were both RMB0.11 in the first half of 2021. In the first half of 2020, ACG stock reported RMB0.89 for basic and diluted losses per common share

    Enrollment Update of AACG stock:

    1051 students enrolled in the second quarter of 2021 as compared to 772 in the same period of the prior year. Out of these 1051, 561 students did enroll in portfolio programs of ACG stock that comprises time-based programs and project-based programs. Delivered credit hours in the second quarter were 28,445 as compared to 27,933 in the same quarter last year.

    Balance Sheet of AACG stock:

    AACG stock reported RMB91.4 million in cash and cash equivalents as of June 30, 2021. The working capital deficit of the stock was  RMB183.4 million and the total equity of shareholders was RMB220.3 million.

    Wrap Up:

    AACG stock is passing through hard days despite the increased revenue and gross profit in the second quarter of 2021. The management says that they are vigilant to follow the guideline and rules which Chinese government has imposed on the education sector. Still investors must be aware of all facts and figures before adding this stock to their portfolio.

  • Cytosorbents (CTSO) Stock Surged 4.13%, Here’s Why

    Cytosorbents Corp (NASDAQ: CTSO) is up 4.13% in the current market trading session at the price of $8.12 after the announcement of grant of second Breakthrough Device designation to DrugSorb-ATR.

    Grant of Second Breakthrough Device Designation to DrugSorb-ATR

    On 12th August 2021, CTSO announced that FDA Breakthrough designation had been granted to CytoSorbents’ DrugSorb-ATR. This Breakthrough Device designation helps the removal of Apixaban and Rivaroxaban to minimize the risk of bleeding during urgent cardiothoracic surgery.

    CTSO Second Quarter 2021 Financial Report

    On 3rd August 2021, CTSO announced financial and operating results for the second quarter and six months ending 30th June 2021. Total revenue for the second quarter of 2021 was $12.0 million, 23% up compared to $9.8 million in the same quarter of 2020. Second-quarter 2021 product sales grew 19% to $11.4 million compared to product sales of $9.5 million during Q2 2020. Gross profit increased to $9.3 million in the second quarter of 2021. The gross profit reported in the second quarter of 2020 was $6.5 million.

    CEO Dr. Phillip Chan remarked that they continue working on the U.S. STAR-T trial. It gives a low-risk, rapid, and most acceptable path to U.S. marketing approval. After full FDA approval of IDE application in July, they are ramping activities to begin enrollment. The first patient enrollment is expected this quarter, and the trial will be completed next year, he added.

    Target 100,000 International Fundraising Campaign to Counter COVID-19

    On 30th July 2021, CTSO declared the completion of its 100,000 international fundraising campaign to fight against COVID-19. A check of $100,000 was presented to CARE

    CARE is a global non-profit humanitarian organization. The funds raised for CARE’s Crisis Response Campaign will enable the organization to provide vaccinations, education, sanitation, and disinfectant initiatives to counter Covid-19.

    CEO Dr. Phillip Chan had thanked all of their friends, business partners, colleagues, employees, and shareholders for their generous donations. It enabled them to fulfill their commitment of raising $100,000 to support CARE’s COVID-19 Emergency Fund, he added.

    CTSO Received FDA Approval of Investigational Device Exemption for STAR-T Trial

    On 6th July 2021, CTSO published the full approval of its Investigational Device Exemption (IDE) application to conduct the pivotal STAR-T trial in the United States. This study was performed under the previously announced FDA Breakthrough Designation granted for the removal of ticagrelor in a cardiopulmonary bypass circuit.

    EfthymiosDeliargyris, Chief Medical Officer, commented that they are happy to announce that FDA has granted full IDE approval for the randomized, controlled, and double-blind STAR-T trial. The STAR-T is designed to support regulatory clearance of the DrugSorb-ATR Antithrombotic Removal system to remove intraoperative ticagrelor during cardiothoracic surgery.

    Appointment of Terri Anne Powers

    On 1st June 2021, CTSO reported the appointment of Terri Anne Powers as Vice President of Investor Relations and Corporate Communications. Powers is an expert in financial and communications with over 15 years of experience in the healthcare system. She was appointed to expand affiliations with the broader stakeholder community by building best-in-class investor relations and corporate communications functions.

    Future Expectations

    The company anticipates COVID-19 product sales for the rest of the year to be less than $1 million. It is expecting near 30% YoY growth in the second half of 2021 and 30% YoY growth in the full-year 2021 in non-COVID-19 product sales. Overall, it expects higher product sales in the second half of 2021 than the first half of 2021.

  • OncoCyte Corporation (OCX) Stock Surged 14.25%. Here’s Why

    OncoCyte Corporation (OCX) Stock Surged 14.25%. Here’s Why

    OncoCyte Corporation’s (NASDAQ: OCX) stock is up 14.25% in the current-market trading session at the price of $4.65 despite any recent news.

    OCX Stock Second Quarter 2021 Financial Results

    On 10th August 2021, OCX stock announced financial results for the second quarter ended on 30th June 2021 and a corporate update. Net loss was $9.1 million or $0.14 per share for the second quarter of 2020. For Q2 2021, a net loss of $10.5 million or $0.12 per share was reported. The total revenue for the second quarter of 2021 was $2.03 million. Net revenue of $0.1 million was reported in the same quarter of 2020.  High revenue was generated from DetermaRx tests, pharma services, and licensing revenues this quarter.

    CEO Ron Andrews commented that OCX Stock has continued working at its solid growth trajectory, driven by strategic gains. As per its commitment, the company is on a way to deliver and launch three products in the fourth quarter of 2021. They are motivated by their fast quarter-over-quarter sample volume growth with DetermaRx despite the endless pandemic, he added.

    Participation in Upcoming Investor Events

    On 9th August 2021, OCX stock declared the participation of management in two upcoming investor meetings. First, the “UBS Genomics 2.0 & MedTech Innovations Summit” was schedule to be held on Thursday, 12th August 2021, at Montage Laguna Beach. Second, “The 6th Annual Needham Virtual Med Tech & Diagnostics Conference” will be on Tuesday, 17th August 2021.

    OCX Stock Partnered with EchelonDx

    Oncocyte Corporation, on 15th June 2021, disclosed a strategic partnership with Echelon Diagnostics. The two firms will collaborate to develop analytical software that can scale to support the commercial expansion of Oncocyte’s tests. Moreover, they will work on solutions that can diagnose and treat cancer. Doug Ross, Chief Scientific Officer of OCX stock, commented that EchelonDx was the right partner which enabled them to build software solutions. Such solutions will help in scaling and launching the proprietary tests to ensure uniform and accurate results.

    Collaboration with GruppoOncologico del Nord Ovest

    On 3rd June 2021, OCX stock declared a strategic partnership with GruppoOncologico del Nord-Ovest of Pisa, Italy.  The goal was to evaluate DetermaIOOncocyte’s proprietary gene expression test. The test helps to evaluate the tumor immune microenvironment from a biopsy sample. This is the fifth tumor type being analyzed for DetermaIO. The first fours tests were being used to anticipate immune therapy response in lung, breast, bladder, and renal cancers.

  • Why Sotherly Hotels Inc. (SOHO) stock is Popping High today?

    Why Sotherly Hotels Inc. (SOHO) stock is Popping High today?

    Sotherly Hotels Inc. (SOHO) stock released second-quarter 2021 financial results after which the stock became more bullish than before. SOHO price saw a push of 13.3% to reach $2.56 a share at the time of this writing. The stock was gaining in the previous trading session and went up by 1.35% at closing.

    SOHO Stock Second Quarter 2021 Financial Results:

    • Sotherly Hotels generated $34.4 million in revenue in the third quarter of 2021 as compared to $5.3 million in Q2,2020. This revenue was 33.3% lower than the same period revenue of 2019.
    • Room revenue per available room for the SOHO stock reached $94.93 as compared to $12.91 in the same prior year quarter.
    • The production of hotel EBITDA increased to $9.7 million in the three months ended June 30, 2021. This compares to the deficit of $5.2 million in the same tenure of the previous year.
    • SOHO stock recorded a 108.3% increase in adjusted FFO attributable to common stockholders and unitholders to reach $14.4 million as compared to Q2,2020.

    Dividend Update:

    The SOHO stock for now will not pay the quarterly dividend to its shareholders to maintain liquidity till any further update. The stock did not pay the dividend for the second quarter of 2021. The management is monitoring the SOHO stock’s situation and will decide about the future dividends according to the situation.

    Monthly Cash Use Estimates:

    The SOHO stock estimated $0.4 million average monthly cash use for the third quarter of 2021 based on the following assumptions.

    • $2.90 to $2.95 million for monthly average hotel cash flow
    • $0.40 to $0.45 million for monthly G&A cash use.
    • $0.50 to $0.50 million for capital expenditures
    • $2.40 million monthly cash use for corporate financing.

    Developments of SOHO stock:

    SOHO stock signed many forbearance and loan modification agreements with its lenders. These agreements are for mortgage loans that Sotherly’s hotels located in various places secure. These agreements will able SOHO stock to defer payments of principal and interest for various period periods.

    Financial Guidance for 3rd Quarter 2021:

    SOHO stock expected a decline in its RevPAR between 5% to 10% as compared to the third quarter of 2019. However, it would be much better than the first and second quarters of 2021. The stock has not provided clear guidance due as no one knows the uncertainties due to Covid-19.

    Wrap Up:

    Sotherly Hotels stock is hot among investors so far after the release of second-quarter 2021 financial results. The stock had  $33.5 million in cash and cash equivalents by the end of June 2021. The stock has a market cap of 36.079 million and 165,578 average trading volume.

  • What Caused Perrigo (PRGO) Stock To Drop Nearly 13%?

    Shares of Perrigo Company plc (PRGO) last traded at $43.10 in current trading, down -12.33%. At close of trading yesterday, PRGO stock was trading at $49.17. The PRGO stock fluctuated between $48.11 and $49.34. PRGO stock exchanged 2.18 million shares, exceeding the company’s 50-day daily volume of 1.09 million and its Year-to-date volume of 1.24 million.

    The PRGO stock retreated -4.97% over the last year, but has moved up 0.94% in the last week. Over the last six months, PRGO stock has gained a total of 12.00%, and over the last three months, the stock has gained 10.89%. After the release of its financials, PRGO stock fell.

    How did PRGO Stock do last quarter?

    Perrigo manufactures and sells quality, affordable over-the-counter (OTC) products that help individuals achieve and maintain a healthy lifestyle by empowering them to treat or prevent conditions that can be self-managed. As the largest store brand OTC player in the US, PRGO offers more than 9,000 store-brand products under customer-owned labels under its consumer self-care strategy. Additionally, PRGO markets more than 200 OTC products across 28 countries. PRGO places among the Top 10 OTC companies by revenue in Europe.

    Financial results from the second quarter of fiscal year 2021 ended July 3, 2021 were announced by Perrigo today. As part of the results from continuing operations, the Consumer Self-Care Americas (“CSCA”) segment, the Consumer Self-Care International (“CSCI”) segment and Corporate are included.

    Second Quarter 2021 Financial Highlights:

    • Net sales were $981 million in PRGO’s second quarter, an increase of 3.4%, driven primarily by growth in most of the company’s businesses and favorable foreign currency movements, offset partially by lower customer inventory levels than last year, and an unusually weak cough/cold season.
    • Gross sales of PRGO increased by 0.5% organically, although cough and cold-related net sales decreased by 2.3 percentage points.
    • In the second quarter, CSCI’s net sales were $359 million, up 11.7% compared to the prior year quarter, with organic growth of 4.3%; in the same quarter, CSCA’s net sales were $622 million, down 0.9% and organic sales down 1.4%.
    • For the second quarter of 2021, PRGO reported diluted loss per share (“EPS”) of $0.84 per diluted share, primarily because of impairment charges of $1.17 per diluted share in connection with the sale of its Latin American business.
    • According to PRGO, adjusted diluted earnings per share decreased 15.3% to $0.50 in the second quarter of 2021 from $0.59 in the prior year quarter. This was due primarily to the reinstatement of brand and marketing investments.

    Important factors:

    Among Perrigo (PRGO)’s businesses, net sales increased in all but OTC in the United States, which was negatively affected by lower customer inventory levels and a historically weak cough and cold season. Accordingly, consumer take-aways rebounded sharply in Q2 across all businesses of PRGO, including coughs/colds, which bodes well for the second half.

  • Intercept Pharmaceuticals (ICPT) Stock Fell Nearly 9%. How Did That Happen?

    Intercept Pharmaceuticals Inc. (ICPT) shares fell -8.60% in the current market to trade at $15.31. The ICPT stock closed the previous session at $16.75. There were 5.09 million shares traded on ICPT stock, which was higher than the average daily volume of 0.66 million shares over the past 50 days. ICPT stock has fallen -68.29% over the last 12 months and has risen by 0.6% over the past week. The ICPT stock has fallen -7.97% during the past three months, and -52.22% during the past six months. ICPT had a market capitalization of $564.48 million and its outstanding shares were 33.18 million. Since announcing an agreement about convertible notes, ICPT stock has plummeted.

    ICPT has agreed to what?

    As a biopharmaceutical company, Intercept develops and commercializes therapeutics that treat progressive liver diseases, like primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH). Intercept was founded in New York in 2002 and has operations in the United States, Europe, and Canada.

    As part of the agreement, Intercept has entered into private negotiations with certain holders of its existing 3.25% Convertible Senior Notes due 2023. ICPT also negotiated a deal with holders of 2.00% Convertible Senior Notes due 2026.

    • ICPT has agreed that an aggregate amount of $306.5 million principal amount of 2023 Notes and an aggregate amount of $114.7 million principal amount of 2026 Notes will be exchanged.
    • The notes will be exchanged for a new series of ICPT’s Convertible Senior Secured Notes due in 2026.
    • ICPT will also sell new notes for cash in the amount of approximately $117.6 million.
    • Transactions are expected to close promptly, provided customary closing conditions are met.
    • A total of approximately $500.0 million of New Notes is expected to be issued by ICPT to the participating holders.
    • Net of advisory fees and expenses, the ICPT estimates cash proceeds of approximately $107.3 million.
    • In addition to general corporate expenses, ICPT intends to use the net proceeds for other corporate purposes.
    • A cash reserve of $75.7 million may be used to repurchase shares of the Company’s common stock in private transactions at a price per share of $16.75, the closing price of the Company’s common stock on August 10, 2021.
    • In addition, these repurchases could prevent a decline in ICPT common stock or the New Notes market price and ICPT may buy back and retire additional 2023 notes.

    Post-transaction position of ICPT Stock:

    Intercept (ICPT) expects that its debt and share count profiles will change following the Transactions and Buyback. ICPT will succeed in retiring 66.6% of its 2023 Notes. As a result of the transaction, the number of ICPT shares outstanding will be reduced by 4.52 million shares, or 13.6%, from 33.2 million to 28.7 million.

  • Why AppHarvest, Inc. (APPH) stock is gloomy today?

    AppHarvest, Inc. (APPH) stock is gloomy today following the release of second-quarter 2021 financial results. APPH stock price saw a decline of 27.65% to drop at $8.66 a share at the time of this writing. The stock was also gloomy in the previous trade and went low by 1.07% at closing. Let’s deep dive to explore more of it.

    Second Quarter 2021 Financial Results:

    AppHarvest stock generated $3.1 million from the net sales in Q2,2021, $0.8 million higher than Q1,2021. The stock sold 8.6 million pounds of tomatoes in the reported quarter, 4.8 million higher than last quarter.

    APPH stock reported $32.0 million and $22.6 million net loss and non-GAAP adjusted EBITDA loss in the reported quarter. These stats are significantly higher than net loss and an adjusted EBITDA loss of $1.6 million in the same period of the previous year.

    Many factors adversely impacted the second quarter of 2021 financial results of APPH stock. The market prices of tomatoes historically decreased in the reported tenure according to USDA reports. Moreover, a sharp increase in full production at APPH stock’s first CEA facility greatly impacted the financial position of this stock. The stock faced severe labor and productivity challenges that resulted overall lower No. 1-grade production yields. Higher distributions and shipping fees have added more pain.

    Milestone Achieved by APPH stock:

    Since the beginning of harvesting fresh produce, APPH stock has achieved several milestones so far. It effectively has done staffing via local labor for Morehead farm. Raised new, non-dilutive forms of capital for the funding of its developments. The stock secured the future building sites in no time. A plethora of investors and policymakers across the globe have shown interest in the CEA industry. Such developments have driven the transformation process of assets and teams into a global authority in the CEA sector.

    The APPH stock announced the three operating companies under one parent company. This action will able child companies to pursue distinct opportunities in order to grow more broadly within CEA. These companies include

    • “AppalachiaCo,”, which will consist of high-tech indoor farms in Central Appalachia and value-added products and business.
    • “TechCo,” will have key technologies of APPH stock.
    • “GrowCo,” will pursue opportunities related to CEA even outside Central Appalachia and across the globe.

    Conclusion:

    It seems that investors didn’t like the second quarter of 2021 financial results of APPH stock. The stock faced harsh situations in the second quarter of 2021 in terms of tomatoes sales, labor, and productivity challenges. A thorough fundamental, as well as technical analysis, is necessary before adding this stock to the portfolio.

  • Why Fulcrum Therapeutics, Inc. (FULC) stock rallied today?

    Fulcrum Therapeutics, Inc. (FULC) stock rallied today after the announcement of second-quarter 2021 financial results. FULC stock price saw an uptrend of 57.32% to reach $13.10  a share as of this writing. The stock was also gaining in the previous trade and went high by 2.84% at closing. Let’s discuss the financial results in detail.

    Second Quarter 2021 Financial Results:

    • Fulcrum stock reported $4.4 million in collaboration revenue for the second quarter of 2021. The previous year’s same quarter collaboration revenue was $2.0 million. The increase in collaboration revenue in the reported quarter is due to collaboration and license agreement with MyoKardia as well as with Acceleron.
    • FULC stock suffered a net loss of $19.6 million in Q2,2021 as compared to a net loss of $15.7 million for the same tenure of the previous year.
    • FULC stock reported that it has spent $17.4 million in research and development expenses in the second quarter of 2021. These are higher than $12.8 million research and development costs in Q2,2020 due to increased cost to support stock’s planned and ongoing clinical trials.
    • FULC stock spent $6.7 million in general and administrative expenses in Q2,2021 as compared to $5.1 million in Q2,2020. The employee-related costs, stock-based compensation expenses and professional costs resulted in this increase.
    • FULC stock had $125.6 million in cash and cash equivalents and marketable securities by the end of this quarter.

    Developments of FULC stock:

    • Fulcrum stock reported interim results of ongoing Phase 1 trial in healthy adult volunteers with FTX-6058. In the MAD portion, all FTX-6058 achieved maximal target engagement and were well tolerated with no adverse effects.
    • FULC stock in June released the data of  ReDUX4, a Phase 2b trial of losmapimod that showed slow disease progression and improved function in FSHD.
    • FULC stock participated in the American Chemical Society (ACS) Spring 2021 National Meeting and presented FTX-6058 medicinal chemical strategy.
    • Fulcrum stock advanced the strategic collaboration with the subsidiary of  Bristol-Myers Squibb Company.e., Acceleron and MyoKardia
    • Fulcrum stock appointed Mani Sundararajan, Ph.D. as Vice President, Technical Operations in July 2021.
    • In May 2021 , FULC stock appointed Christopher J. Morabito, M.D as Chief Medical Officer.
    • Judith A. Dunn, Ph.D. started to serve Fulcrum as President of Research and Development in April 2021.

    Wrap Up:

    Fulcrum stock has captivated the attention of investors after the release of second-quarter 2021 financial results. The stock is progressing well in terms of its ongoing study and can be a good bet for investors in the long run.

  • APDN Stock Burgeoning. Here’s Why

    Applied DNA Sciences, Inc. (APDN), a DNA based technology provider, saw an increase of 3.66% in its share price on Friday, as a result of which, the share price soared up to $6.80. In the current market, the company’s shares price is rising further. Up till now, it has gained 0.44% and stands at $6.83.

    Contract for COVID-19 testing

    On the 3rd of August, the company announced that its subsidiary, ADCL, was awarded a COVID-19 testing contract by the Board of Trustees of the City University of New York. The contract was awarded to serve the purpose of facilitation in the reopening of the University, which is scheduled to happen in the fall season. According to the contract, the company is asked to provide weekly asymptomatic COVID-19 screening of unvaccinated students, faculty, and other staff present at the campus.

    Availability of identification thread technology

    In early June, Applied DNA Sciences announced the availability of A&E’s advanced identification thread technology for the ECO100 recycled sewing thread line.  This latest thread technology provides a brand new and innovative solution to different brands to serve the authentication and validation of their products. This identification thread could authenticate the products via the aid of Beacon Technology, or with qPCR test.

    Announcement of study results over COVID vaccine

    On 7th of June, the company announced the study results of sera, evaluating the company’s COVID vaccines in the felines. The results show that the company’s vaccines against the COVID-19 have the potential of providing high levels of protection against the current as well as future variants of the COVID-19 pandemic, said James A. Hayward, CEO, and President of Applied DNA Sciences Inc.

    APDN Q2 financial results

    In early May, the company announced the financial results for the second quarter of fiscal 2021, which ended March 31st. The revenue reported by the company stands at $2.7 million, as compared to $552 thousand earned during the equivalent period of 2020, an increase of 384%. During the first quarter of fiscal 2021, the company generated revenue of $1.6 million. The massive increase in revenue during the second quarter of 2021 is primarily due to the increase in services and product revenue, which was mainly brought in due to increased demand for the company’s COVID-19 related services and products. The net loss per share was $0.21, as compared to a net loss of $0.79 during the equivalent period of 2020.

    First six months financial results

    Along with quarterly results, the company also announced the financial results for six months period of the fiscal year 2021. According to them, the company revenue during the six months period stands at $4.3 million, as compared to $1.2 million during the equivalent period of 2020. Apart from that, the net loss per share stood at $1 per share, as compared to a net loss of $1.76 per share for an equivalent period of 2020.

    What lies ahead for APDN stock?

    Looking ahead, the time seems perfect for the Applied DNA Sciences business to thrive. According to analyst estimates, the company’s expected revenue for next year could be $18.76 million, while the earning per share for next could increase about 67.40%. As far as APDN stock performance is concerned, short-term investments could face volatility. The long-term investors could yield a handsome profit from APDN stock in the near future.

  • Aterian, Inc. (ATER) stock is dropping today: Why is it so?

    Shares of Aterian, Inc. (ATER) stock were dropping today following the release of second-quarter 2021 financial results. ATER stock price saw a downtrend of 39.61% to drop at $4.97 a share as of this writing. Aterian, Inc is the technology stock founded in 2014 and based in New York.

    Second Quarter Financial Results:

    • The Aterian stock reported a $36.3 million net loss in Q2, 2021, significantly higher than the net loss of $2.9 million in Q2 2020.
    • Adjusted EBITDA of the stock decreased to a loss of $3.7 million in the reported quarter. The previous year’s same quarter adjusted EBITDA recorded a $3.4 million gain.
    • ATER stock generated $68.2 million in net revenue which represents 14% year-over-year growth. Previous year same quarter net revenue was $59.8 million for the stock.
    • ATER stock recorded $4.5 million operating income as compared to an operating loss of $1.8 million in Q2 2020. This includes  $23.3 million of benefit from the change in fair value of earn-out liabilities.
    • The contribution margin for the reported quarter decreased 8.3% as compared to 16.8% in the same quarter of last year.
    • Operating expenses for the ATER stock were $28.3 million in the second quarter of 2021. This shows that these expenses were decreased as compared to $29.4 million operating expenses in the same quarter of last year.
    • ATER stock launched 19 new products in the second quarter of 2021 while it launched 8 products in the previous quarter.
    • As of June 30, 2021, ATER stock had a cash balance of $61.9 million. The cash balance increased by $26.9 million as compared to the cash balance as of March 31, 2021.

    ATER stock withdrawn 2021 Outlook:

    It was difficult for ATER stock to predict shipping cost and inventory due to global supply chain crises. Furthermore, covid-19 is still making a significant impact on businesses. So in this situation, the prediction about near-term consumer behavior is a difficult task. Due to these facts, Aterian stock has withdrawn 2021 net revenue and adjusted EBITDA guidance for an unknown time.

    Wrap Up:

    Investors are responding negatively to the announcement of second-quarter 2021 financial results.Net loss of the Aterian stock has significantly increased as compared to the same period of the prior year. The stock has a market cap of $171.34 million and an 802,352 average trading volume. Investors eyeing ATER stock need to do deep research before adding this stock to their portfolio.