Second quarter 2021 Financial Results Summary
Revenue in the quarter was $2.9 million, compared to $4.0 million in the second quarter of 2020. These amounts include SaaS revenues, which are recurring by nature, and amounted to $405 thousand in the quarter compared to $286 thousand in the second quarter of last year. Gross profit in the quarter was $1.0 million, or 34% of revenues, compared to $1.7 million, or 42% of revenues, in the second quarter of last year. Operating expenses totaled $2.4 million in the quarter, compared to operating expenses of $2.5 million in the second quarter of last year. Net loss from continuing operations was $1.5 million, compared to a net loss of $0.9 million in the second quarter of last year. Net loss was $2.7 million, or loss of $0.04 per share, compared to a net loss of $1.1 million, or loss of $0.02 per share, in the second quarter of last year. Adjusted EBITDA loss from continuing operations was $1.3 million in the quarter, compared to adjusted EBITDA loss of $0.7 million in the second quarter of last year. As of June 30, 2021, the Company had cash and cash equivalents and short-term investments of $2.6 million.
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