Revenue: $51,143,682; YoY +33.05%; QoQ +20.39%.
Gross Profit: $482,992; YoY -85.07%; QoQ +112.88%; Gross Margin: 0.94%.
Operating Income: -$2,176,164; YoY approx -3914.9%; QoQ +70.09%; Operating Margin: -4.26%.
EBITDA: -$1,008,318; EBITDA Margin: -1.97%.
Net Income: -$1,659,240; YoY -343.21%; QoQ +64.30%; Net Margin: -3.24%.
EPS (diluted): -$0.0398; YoY -342.68%; QoQ +63.82%.
Balance Sheet Highlights: Cash and cash equivalents $5.1189 million; total cash at end of period $7.3787 million; total assets $163.715 million; total liabilities $130.534 million; total stockholders’ equity $33.182 million; current ratio 1.07.
Leverage and cash flow: Total debt $123.112 million; net debt $117.993 million; debt-to-equity 3.71; current ratio 1.07; operating cash flow -$5.629 million; free cash flow -$6.346 million; cash from financing activities +$7.714 million; cash burn from operations and capex driven negative free cash flow.
Valuation and liquidity: P/B 5.21; P/S 3.38; EV multiple negative; cash per share $0.123; cash flow per share (operating) -$0.135; capex $0.717 million.