$PBIO Pressure BioSciences, Inc. Reports Strong Second Quarter 2021 Financial Results
https://www.accesswire.com/660464/pressure-bi...al-results
Significant Growth Reported in Total Revenue (127%), Instrument Sales (178%), and BaroFold/UST Services (298%); Significant Decrease in Operating Loss (51%) Achieved
Investor Call Scheduled for Thursday, August 19, 2021 at 4:30 p.m. EDT
SOUTH EASTON, MA / ACCESSWIRE / August 19, 2021 / Pressure BioSciences, Inc. (OTCQB
BIO) ("PBI" or the "Company"
, a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology, biotherapeutics, nutraceuticals, cosmetics, agriculture, and food & beverage industries, today reported continued strong financial results for the second quarter ended June 30, 2021, provided a business update, and offered guidance for the remainder of FY 2021.
Financial Results: Q2 2021 vs. Q2 2020 (rounded to nearest hundred except earnings per share)
Total revenue for Q2 2021 was $608,900 compared to $268,200 for the Q2 2020, an increase of 127%.
Instrument sales for Q2 2021 were $337,400 compared to $121,400 for Q2 2020, an increase of 178%.
Consumable sales for Q2 2021 were $43,700 compared to $50,900 for Q2 2020, a decrease of 14%.
BaroFold/UST services in Q2 2021 were $136,000 compared to $34,200 for Q2 2020, an increase of 298%
Operating loss for Q2 2021 was $646,300 compared to $1,330,600 for Q2 2020, a decrease of 51%
Basic and diluted net loss per share was $(0.90) for Q2 2021 compared to $(1.70) for Q2 2020.
Financial Results: 1st Half 2021 vs. 1st Half 2020 (rounded to nearest hundred except earnings per share)
Total revenue for 1H 2021 was $1,168,800 compared to $522,000 for the 1H 2020, an increase of 124%.
Instrument sales for 1H 2021 were $656,900 compared to $216,700 for 1H 2020, an increase of 203%.
Consumable sales for 1H 2021 were $145,700 compared to $107,100 for 1H 2020, an increase of 36%
BaroFold/UST services in 1H 2021 were $142,100 compared to $44,000 for 1H 2020, an increase of 322%
Operating loss for 1H 2021 was $(1,721,400) compared to $(2,725,700) for 1H 2020, a decrease of 37%
Basic and diluted net loss per share was $(2.29) for 1H 2021 compared to $(3.34) for 1H 2020.
Mr. John B. Hollister, Director of Sales and Marketing for PBI, commented: "We are delighted to have followed our strong first quarter results with even stronger results in the second quarter. Requests for instrument systems have increased significantly since the beginning of the year, purchases of consumable products started to pick up appreciably near the end of the second quarter, and interest in our BaroFold services has leaped forward into exciting new growth opportunities. In particular, we are pleased to report that demand for our pressure-based instruments and services continued to strengthen throughout the quarter and the year-to-date. We are looking forward to a busy and highly successful second half of 2021."
Recent Operational and Technical Highlights
We formed PBI Agrochem, a wholly owned subsidiary, to integrate the assets of a global eco-friendly "green" agricultural products company, and to focus on the development of a new generation of products further enhanced by our revolutionary Ultra Shear Technology™ (UST™) platform.
We announced receipt of over $1,000,000 in orders for PBI Agrochem in just its first month of operations.
We set up a U.S. warehousing, processing, and product packaging facility for PBI Agrochem.
We continued to make measurable progress in the acquisition of assets of our targeted global eco-friendly agrochemical supplier. Their assets are expected to be accretive to PBI, with sustained profitable revenue growth beginning immediately after the close of the purchase.
We unveiled an aggressive "Growth Plan," including multiple important goals that we believe can be accomplished in 2021.
We reported that UST-enabled CBD nanoemulsions soared past our one-year product stability goal; results open explosive growth potential for water-soluble CBD (and other active ingredient infused) beverages worldwide.
We reported the successful nanoemulsification of Astaxanthin - one of the world's most potent antioxidants.
We were awarded three additional patents for our revolutionary UST platform (Japan, Australia, and China).
Mr. Richard T. Schumacher, President and CEO of PBI, commented: "Our Q1/Q2 2021 financial results clearly rank amongst the best first half results ever achieved by PBI. What makes them even more exciting is that revenue and operating income to date do not include any results from PBI Agrochem, as this subsidiary was just formed in July. We believe that once PBI Agrochem results are integrated with the results of the core business, the combination will be significantly accelerated in both revenue and operating income beyond any previous period. The success achieved to date in 2021, combined with the positive impacts of achieving even a few of the aggressive goals that we have set for the 2nd half of 2021 makes this a terrific time to be a stakeholder in PBIO."
https://www.accesswire.com/660464/pressure-bi...al-results
Significant Growth Reported in Total Revenue (127%), Instrument Sales (178%), and BaroFold/UST Services (298%); Significant Decrease in Operating Loss (51%) Achieved
Investor Call Scheduled for Thursday, August 19, 2021 at 4:30 p.m. EDT
SOUTH EASTON, MA / ACCESSWIRE / August 19, 2021 / Pressure BioSciences, Inc. (OTCQB
BIO) ("PBI" or the "Company" , a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology, biotherapeutics, nutraceuticals, cosmetics, agriculture, and food & beverage industries, today reported continued strong financial results for the second quarter ended June 30, 2021, provided a business update, and offered guidance for the remainder of FY 2021. Financial Results: Q2 2021 vs. Q2 2020 (rounded to nearest hundred except earnings per share)
Total revenue for Q2 2021 was $608,900 compared to $268,200 for the Q2 2020, an increase of 127%.
Instrument sales for Q2 2021 were $337,400 compared to $121,400 for Q2 2020, an increase of 178%.
Consumable sales for Q2 2021 were $43,700 compared to $50,900 for Q2 2020, a decrease of 14%.
BaroFold/UST services in Q2 2021 were $136,000 compared to $34,200 for Q2 2020, an increase of 298%
Operating loss for Q2 2021 was $646,300 compared to $1,330,600 for Q2 2020, a decrease of 51%
Basic and diluted net loss per share was $(0.90) for Q2 2021 compared to $(1.70) for Q2 2020.
Financial Results: 1st Half 2021 vs. 1st Half 2020 (rounded to nearest hundred except earnings per share)
Total revenue for 1H 2021 was $1,168,800 compared to $522,000 for the 1H 2020, an increase of 124%.
Instrument sales for 1H 2021 were $656,900 compared to $216,700 for 1H 2020, an increase of 203%.
Consumable sales for 1H 2021 were $145,700 compared to $107,100 for 1H 2020, an increase of 36%
BaroFold/UST services in 1H 2021 were $142,100 compared to $44,000 for 1H 2020, an increase of 322%
Operating loss for 1H 2021 was $(1,721,400) compared to $(2,725,700) for 1H 2020, a decrease of 37%
Basic and diluted net loss per share was $(2.29) for 1H 2021 compared to $(3.34) for 1H 2020.
Mr. John B. Hollister, Director of Sales and Marketing for PBI, commented: "We are delighted to have followed our strong first quarter results with even stronger results in the second quarter. Requests for instrument systems have increased significantly since the beginning of the year, purchases of consumable products started to pick up appreciably near the end of the second quarter, and interest in our BaroFold services has leaped forward into exciting new growth opportunities. In particular, we are pleased to report that demand for our pressure-based instruments and services continued to strengthen throughout the quarter and the year-to-date. We are looking forward to a busy and highly successful second half of 2021."
Recent Operational and Technical Highlights
We formed PBI Agrochem, a wholly owned subsidiary, to integrate the assets of a global eco-friendly "green" agricultural products company, and to focus on the development of a new generation of products further enhanced by our revolutionary Ultra Shear Technology™ (UST™) platform.
We announced receipt of over $1,000,000 in orders for PBI Agrochem in just its first month of operations.
We set up a U.S. warehousing, processing, and product packaging facility for PBI Agrochem.
We continued to make measurable progress in the acquisition of assets of our targeted global eco-friendly agrochemical supplier. Their assets are expected to be accretive to PBI, with sustained profitable revenue growth beginning immediately after the close of the purchase.
We unveiled an aggressive "Growth Plan," including multiple important goals that we believe can be accomplished in 2021.
We reported that UST-enabled CBD nanoemulsions soared past our one-year product stability goal; results open explosive growth potential for water-soluble CBD (and other active ingredient infused) beverages worldwide.
We reported the successful nanoemulsification of Astaxanthin - one of the world's most potent antioxidants.
We were awarded three additional patents for our revolutionary UST platform (Japan, Australia, and China).
Mr. Richard T. Schumacher, President and CEO of PBI, commented: "Our Q1/Q2 2021 financial results clearly rank amongst the best first half results ever achieved by PBI. What makes them even more exciting is that revenue and operating income to date do not include any results from PBI Agrochem, as this subsidiary was just formed in July. We believe that once PBI Agrochem results are integrated with the results of the core business, the combination will be significantly accelerated in both revenue and operating income beyond any previous period. The success achieved to date in 2021, combined with the positive impacts of achieving even a few of the aggressive goals that we have set for the 2nd half of 2021 makes this a terrific time to be a stakeholder in PBIO."
