Surna Reports Q1 2020 Results
SURNA INC (SRNA)
US:NASDAQ Investor Relations:
surna.com/investor-relations
Company Research
Source: GlobeNewswire
Announces 2% Revenue Increase Over Q1 2019 Boulder, Colorado, June 25, 2020 (GLOBE NEWSWIRE) -- Surna Inc. (OTCQB: SRNA) announced today operating and financial results for the three months ended March 31, 2020. Financial Highlights Our Q1 2020 revenue was $1,810,000, which represents a 2% increase compared to Q1 2019 revenue of $1,771,000. For Q1 2020, our operating loss and net loss was $946,000 and $938,000, respectively. This compares to a Q1 2019 operating loss and net loss of $922,000 and $900,000, respectively. Our Q1 2020 adjusted net loss was $718,000, compared to a Q1 2019 adjusted net loss of $497,000. Our Q1 2020 gross profit margin was 25.2% compared to 27.7% for Q1 2019, a decrease of 2.5 percentage points. As of March 31, 2020, our cash was $194,000, compared to cash of $922,000 as of December 31, 2019. Our working capital deficit was $1,705,000 as of March 31, 2020, compared to a working capital deficit of $1,437,00 as of December 31, 2019.
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