$DFCO Dalrada Financial Corporation Reports Revenue of $9.5 Million, an Increase of over $4 Million or 80% During Q3 2023
https://www.businesswire.com/news/home/20230516005382/en/
SAN DIEGO--(BUSINESS WIRE)--Dalrada Corporation (OTCQB: DFCO, “Dalrada”), a U.S.-based company with global operations focused on developing and delivering transformative innovations in clean energy services, high precision manufacturing, advanced technology, and reimagined healthcare, today announced it has recorded $9.5 million in revenue, an increase of over 80% for the quarter ended March 31, 2023.
During Q3, revenue totaled $9.5 million, an increase of over $4 million or 80%, compared to Q2, ended December 31, 2022. Additionally, the Gross Margin increased by $0.6 million (25%), while sales, general, and administrative expenses decreased by $0.6 million (8%), and Operating Loss decreased by $1.1 million (24%). As of March 31, 2023, DFCO has created a backlog of $86 million in potential orders through its four core segments across its portfolio of subsidiaries, primarily based on the increasing worldwide commercialization and sales of the Dalrada Likido™ONE heat pump.
“We are on a mission to deliver effective and efficient solutions for energy. Now, after significant investment, we have developed heat pumps with seven times the efficiency of typical industrial boilers. This has been a major technological accomplishment, and we are streamlining the appropriate departments to activate and support the sales and services of this groundbreaking equipment,” according to Brian Bonar, Chairman and CEO of Dalrada.
Q3 2023 Financial Highlights:
Total consolidated revenue: $9.5 million
Genefic revenue: $4.8 million
Dalrada Energy Services revenue: $2.5 million
Dalrada Precision Manufacturing revenue: $1.7 million
Dalrada Technologies revenue: $0.5 million
Total consolidated cost of revenue: $6.6 million
Total consolidated sales, general and administrative: $6.5 million
Total consolidated loss of operations: $3.6 million
Nine-Month 2023 Financial Highlights:
Total consolidated revenue: $19.0 million
Genefic revenue: $9.2 million
Dalrada Energy Services revenue: $4.2 million
Dalrada Precision Manufacturing revenue: $3.9 million
Dalrada Technologies revenue: of $1.7 million
Total consolidated cost of revenue: $11.9 million
Total consolidated sales, general, and administrative: $18.4 million
Total consolidated loss of operations: $11.3 million
https://www.businesswire.com/news/home/20230516005382/en/
SAN DIEGO--(BUSINESS WIRE)--Dalrada Corporation (OTCQB: DFCO, “Dalrada”), a U.S.-based company with global operations focused on developing and delivering transformative innovations in clean energy services, high precision manufacturing, advanced technology, and reimagined healthcare, today announced it has recorded $9.5 million in revenue, an increase of over 80% for the quarter ended March 31, 2023.
During Q3, revenue totaled $9.5 million, an increase of over $4 million or 80%, compared to Q2, ended December 31, 2022. Additionally, the Gross Margin increased by $0.6 million (25%), while sales, general, and administrative expenses decreased by $0.6 million (8%), and Operating Loss decreased by $1.1 million (24%). As of March 31, 2023, DFCO has created a backlog of $86 million in potential orders through its four core segments across its portfolio of subsidiaries, primarily based on the increasing worldwide commercialization and sales of the Dalrada Likido™ONE heat pump.
“We are on a mission to deliver effective and efficient solutions for energy. Now, after significant investment, we have developed heat pumps with seven times the efficiency of typical industrial boilers. This has been a major technological accomplishment, and we are streamlining the appropriate departments to activate and support the sales and services of this groundbreaking equipment,” according to Brian Bonar, Chairman and CEO of Dalrada.
Q3 2023 Financial Highlights:
Total consolidated revenue: $9.5 million
Genefic revenue: $4.8 million
Dalrada Energy Services revenue: $2.5 million
Dalrada Precision Manufacturing revenue: $1.7 million
Dalrada Technologies revenue: $0.5 million
Total consolidated cost of revenue: $6.6 million
Total consolidated sales, general and administrative: $6.5 million
Total consolidated loss of operations: $3.6 million
Nine-Month 2023 Financial Highlights:
Total consolidated revenue: $19.0 million
Genefic revenue: $9.2 million
Dalrada Energy Services revenue: $4.2 million
Dalrada Precision Manufacturing revenue: $3.9 million
Dalrada Technologies revenue: of $1.7 million
Total consolidated cost of revenue: $11.9 million
Total consolidated sales, general, and administrative: $18.4 million
Total consolidated loss of operations: $11.3 million
