- Sigma Labs Inc (NASDAQ:SASI) reported second-quarter revenue growth of 64.2% year-over-year to $237 thousand, beating the consensus of $110 thousand.
- EPS loss was $(0.22) compared to $(0.18) in 2Q21, above the consensus of $(0.25).
- The gross margin contracted 86 bps to 18.4%. Q2 loss from operations widened to $(2.24) million, from $(2.14) million in 2Q21.
- Sigma Lab’s net cash used in operating activities year-to-date totaled $(4.31) million, compared to $(3.27) million a year ago.
- The company held cash of $6.93 million as of June 30, 2022.
- The current order backlog for Q3 is total revenue of $240 thousand which consists of a mix of subscriptions and perpetual sales. The remaining revenue to be recognized related to year-to-date 2022 transactions is ~$30,000.
- “We believe a revenue tail is beginning to develop that will help us increase our foundational level and begin to make revenue more predictable over time, with a current backlog of orders which consists of a mix of subscriptions and perpetual sales,” stated CEO Jacob Brunsberg.
- Price Action: SASI shares are trading lower by 7.57% at $1.22 on the last check Friday.
Rio Tinto Reaches Agreement With Certain Shareholders Of Turquoise Hill Resources
Rio Tinto has entered into agreements (“Agreements”) with certain funds and other entities related to Pentwater Capital Management LP and SailingStone Capital Partners LLC (the “Securityholders”)
