NetworkNewsBreaks – Net Element Inc. (NASDAQ: NE
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Posted On: 08/16/2021 4:42:36 PM
NetworkNewsBreaks – Net Element Inc. (NASDAQ: NETE) Releases Q2 2021 Financial Report
Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multichannel environment including point-of-sale (“POS”), e-commerce and mobile devices, has announced its second-quarter 2021 financial results for the period ended June 30, 2021. A highlight of the report was an increase of net revenue to $33.3 million for the company, compared to $13.7 million for the same period in 2020. The company noted the following revenue figures as well: North American Transactions Solutions revenue totaled $32 million, compared to $13 million for the same quarter in 2020, and International Transaction Solutions revenue increased to $1.3 million, as compared to $0.74 million for the same comparable quarter in 2020. Other financial results included an increase of operating expenses to $3.1 million, as compared to $2.2 million for the same period in 2020; gross margin increased to $3.7 million, compared to $2.2 million for Q2 2020; and an increase of net income per share to $0.21 compared to a net loss in Q2 2020 $0.08 per share. Finally, the report noted that reflected in net income attributable to common stockholders for the quarter ended June 30, 2021, are two nonrecurring other income transactions totaling approximately $1.0 million: $0.4 million for a PPP note debt forgiveness and $0.6 million in late fees due from Mullen in connection with the Mullen merger agreement.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multichannel environment including point-of-sale (“POS”), e-commerce and mobile devices, has announced its second-quarter 2021 financial results for the period ended June 30, 2021. A highlight of the report was an increase of net revenue to $33.3 million for the company, compared to $13.7 million for the same period in 2020. The company noted the following revenue figures as well: North American Transactions Solutions revenue totaled $32 million, compared to $13 million for the same quarter in 2020, and International Transaction Solutions revenue increased to $1.3 million, as compared to $0.74 million for the same comparable quarter in 2020. Other financial results included an increase of operating expenses to $3.1 million, as compared to $2.2 million for the same period in 2020; gross margin increased to $3.7 million, compared to $2.2 million for Q2 2020; and an increase of net income per share to $0.21 compared to a net loss in Q2 2020 $0.08 per share. Finally, the report noted that reflected in net income attributable to common stockholders for the quarter ended June 30, 2021, are two nonrecurring other income transactions totaling approximately $1.0 million: $0.4 million for a PPP note debt forgiveness and $0.6 million in late fees due from Mullen in connection with the Mullen merger agreement.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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