$PBIO Pressure BioSciences, Inc. Q3 Financial Resu
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Posted On: 11/17/2021 1:25:47 PM
$PBIO Pressure BioSciences, Inc. Q3 Financial Results Maintain Solid 2021 YTD Growth
https://www.accesswire.com/673329/pressure-bi...ytd-growth
Operational and Technical Achievements Set Stage for Expected Major Growth and Profitability in 2022
Investor Call Scheduled for Wednesday, November 17, 2021 at 4:30 p.m. ET
SOUTH EASTON, MA / ACCESSWIRE / November 17, 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 financial results for the third quarter ended September 30, 2021, provided a business update, and offered guidance for an expected strong 2022.
Financial Highlights: Q3 2021 vs. Q3 2020 (rounded to nearest hundred except EPS)
Total revenue for Q3 2021 was $518,000 compared to $534,000 for the Q3 2020, a decrease of 3%.
Instrument sales for Q3 2021 were $274,200 compared to $312,700 for Q3 2020, a decrease of 12%.
Consumable sales for Q3 2021 were $46,000 compared to $49,000 for Q3 2020, a decrease of 7%.
BaroFold/UST services in Q3 2021 were $99,700 compared to $84,200 for Q3 2020, an increase of 18%.
New PBI Agrochem subsidiary had initial sales in Q3 2021 of $17,210 (no sales in Q3 2020).
Operating loss for Q3 2021 was $1,243,000 compared to $819,000 for Q3 2020, an increase of 51%.
Basic and diluted net loss per share was $(0.82) for Q3 2021 improved from $(1.02) for Q3 2020.
Financial Results: September 2021 YTD vs. September 2020 YTD (rounded to nearest hundred except EPS)
Total revenue for Sept 2021 YTD was $1,687,000 compared to $1,056,000 for Sept 2020 YTD, a 60% increase.
Instrument sales for Sept 2021 YTD were $989,500 compared to $568,500 for Sept 2020 YTD, a 74% increase.
Consumable sales for Sept 2021 YTD were $191,400 compared to $156,200 for Sept 2020 YTD, a 23% increase.
BaroFold/UST services for Sept 2021 YTD were $241,800 vs. $128,100 for Sept 2020 YTD, an 89% increase.
Operating loss for Sept 2021 YTD was $(2,964,000) vs. $(3,544,000) for Sept 2020 YTD, a 37% improvement.
Basic and diluted net loss per share was $(3.02) for Sept 2021 YTD improved from $(4.22) for Sept 2020 YTD.
Mr. John B. Hollister, Director of Sales and Marketing for PBI, commented: "Despite supply chain issues adversely affecting operations, our Q3 2021 financial results were effectively on par with the strong results of Q3 2020. Importantly, our 2021 YTD financial results - including total revenue, instrument & consumable sales, and BaroFold/UST services - maintained our strong improvement trend compared to the same 9-month period in 2020. Significantly, anticipation for our eco-friendly agrochemical product sales in Q4 2021, followed by the release of our much-anticipated UST platform for leasing and licensing in the early part of 2022 continues to build. We are receiving numerous unsolicited calls every week from a variety of markets regarding our product introduction timetable to help deliver better nanoemulsified products via the UST process. We are very excited about the expected impact we believe our UST platform release will have in 2022."
Q3 2021 Operational and Technical Highlights
Set up a U.S. warehousing, processing, and product packaging facility for our new PBI Agrochem subsidiary.
Reported the successful UST nanoemulsification processing of Astaxanthin and Neem Oil.
UST processed nanoemulsions of CBD oil in water soared past our one-year stability goal - now at 18 months.
Enacted strategic expansion of BaroFold refolding program with successful debut of instrument sale/lease program.
Announced plans to set-up Toll Manufacturing partnerships on the east and west U.S. coasts.
Unveiled aggressive goals for Q4 2021 & FY 2022, including NASDAQ/NYSE Uplist, Agrochem Acquisition, and Profitability.
Mr. Richard T. Schumacher, President and CEO of PBI, commented: "The many successes of the 2021 third quarter have set the stage for continued foundation building in Q4, in preparation for anticipated major growth in 2022. We believe our achievements in Q4 2021 and FY 2022 will be many, and will include: (i) significant increases in agrochem revenue; (ii) shipment of the industrial-scale UST system to our partner The Ohio State University ("OSU" ; (iii) announcement of progress made by the OSU/PBIO Consortium leveraging UST for improved food quality, safety and stability; (iv) commercial release of the UST platform; (v) executed fee-for-service contracts for UST toll processing; (vi) up-listing of PBIO to a national stock exchange; and (vii) profitability by or before the end of 2022. Our team and our partners are highly motivated by PBI's recent successes and strengthening, but we believe the best is yet to come."
https://www.accesswire.com/673329/pressure-bi...ytd-growth
Operational and Technical Achievements Set Stage for Expected Major Growth and Profitability in 2022
Investor Call Scheduled for Wednesday, November 17, 2021 at 4:30 p.m. ET
SOUTH EASTON, MA / ACCESSWIRE / November 17, 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 financial results for the third quarter ended September 30, 2021, provided a business update, and offered guidance for an expected strong 2022. Financial Highlights: Q3 2021 vs. Q3 2020 (rounded to nearest hundred except EPS)
Total revenue for Q3 2021 was $518,000 compared to $534,000 for the Q3 2020, a decrease of 3%.
Instrument sales for Q3 2021 were $274,200 compared to $312,700 for Q3 2020, a decrease of 12%.
Consumable sales for Q3 2021 were $46,000 compared to $49,000 for Q3 2020, a decrease of 7%.
BaroFold/UST services in Q3 2021 were $99,700 compared to $84,200 for Q3 2020, an increase of 18%.
New PBI Agrochem subsidiary had initial sales in Q3 2021 of $17,210 (no sales in Q3 2020).
Operating loss for Q3 2021 was $1,243,000 compared to $819,000 for Q3 2020, an increase of 51%.
Basic and diluted net loss per share was $(0.82) for Q3 2021 improved from $(1.02) for Q3 2020.
Financial Results: September 2021 YTD vs. September 2020 YTD (rounded to nearest hundred except EPS)
Total revenue for Sept 2021 YTD was $1,687,000 compared to $1,056,000 for Sept 2020 YTD, a 60% increase.
Instrument sales for Sept 2021 YTD were $989,500 compared to $568,500 for Sept 2020 YTD, a 74% increase.
Consumable sales for Sept 2021 YTD were $191,400 compared to $156,200 for Sept 2020 YTD, a 23% increase.
BaroFold/UST services for Sept 2021 YTD were $241,800 vs. $128,100 for Sept 2020 YTD, an 89% increase.
Operating loss for Sept 2021 YTD was $(2,964,000) vs. $(3,544,000) for Sept 2020 YTD, a 37% improvement.
Basic and diluted net loss per share was $(3.02) for Sept 2021 YTD improved from $(4.22) for Sept 2020 YTD.
Mr. John B. Hollister, Director of Sales and Marketing for PBI, commented: "Despite supply chain issues adversely affecting operations, our Q3 2021 financial results were effectively on par with the strong results of Q3 2020. Importantly, our 2021 YTD financial results - including total revenue, instrument & consumable sales, and BaroFold/UST services - maintained our strong improvement trend compared to the same 9-month period in 2020. Significantly, anticipation for our eco-friendly agrochemical product sales in Q4 2021, followed by the release of our much-anticipated UST platform for leasing and licensing in the early part of 2022 continues to build. We are receiving numerous unsolicited calls every week from a variety of markets regarding our product introduction timetable to help deliver better nanoemulsified products via the UST process. We are very excited about the expected impact we believe our UST platform release will have in 2022."
Q3 2021 Operational and Technical Highlights
Set up a U.S. warehousing, processing, and product packaging facility for our new PBI Agrochem subsidiary.
Reported the successful UST nanoemulsification processing of Astaxanthin and Neem Oil.
UST processed nanoemulsions of CBD oil in water soared past our one-year stability goal - now at 18 months.
Enacted strategic expansion of BaroFold refolding program with successful debut of instrument sale/lease program.
Announced plans to set-up Toll Manufacturing partnerships on the east and west U.S. coasts.
Unveiled aggressive goals for Q4 2021 & FY 2022, including NASDAQ/NYSE Uplist, Agrochem Acquisition, and Profitability.
Mr. Richard T. Schumacher, President and CEO of PBI, commented: "The many successes of the 2021 third quarter have set the stage for continued foundation building in Q4, in preparation for anticipated major growth in 2022. We believe our achievements in Q4 2021 and FY 2022 will be many, and will include: (i) significant increases in agrochem revenue; (ii) shipment of the industrial-scale UST system to our partner The Ohio State University ("OSU"
; (iii) announcement of progress made by the OSU/PBIO Consortium leveraging UST for improved food quality, safety and stability; (iv) commercial release of the UST platform; (v) executed fee-for-service contracts for UST toll processing; (vi) up-listing of PBIO to a national stock exchange; and (vii) profitability by or before the end of 2022. Our team and our partners are highly motivated by PBI's recent successes and strengthening, but we believe the best is yet to come."
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