Surna Reports Q2 2020 Results and Recent Sales Contracts
SURNA INC (SRNA)
US:NASDAQ Investor Relations:
surna.com/investor-relations
Company Research
Source: GlobeNewswire
Announces $3.1 million in New Sales Contracts in July Boulder, Colorado, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Surna Inc. (OTCQB: SRNA) announced today operating and financial results for the three and six months ended June 30, 2020, as well as recent new sales contracts. Financial Highlights ?Our Q2 2020 revenue was $1,682,000, which represents a 60% decrease compared to Q2 2019 revenue of $4,210,000. ?For Q2 2020, our operating loss and net loss was $606,000 and $614,000, respectively. This compares to a Q2 2019 operating income and net income of $136,000 and $140,000, respectively. ?Our Q2 2020 adjusted net loss was $478,000, compared to a Q2 2019 adjusted net income of $394,000. ?Our Q2 2020 gross profit margin was 16.3% compared to 34.4% for Q2 2019, a decrease of 18.1 percentage points. ?As of June 30, 2020, our cash was $235,000, compared to cash of $922,000 as of December 31, 2019. Our working capital deficit was $1,599,000 as of June 30, 2020, compared to a
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