Home Equities Score Here is why ShiftPixy, Inc. (PIXY) shares surged in the late-hours Friday

Here is why ShiftPixy, Inc. (PIXY) shares surged in the late-hours Friday

Pixy stock was up 24.07% to 3.35 in the post-market on Friday, January 15, 2021, after the NASDAQ-listed SHIFTPIXY (PIXY) released its earnings and financial results for the quarter ended November 30.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

2021 First Quarter Financial Highlights 

The balance sheet improved from $4.3 million cash and no long-term debt on August 31, 2020, to $9.1 million cash and no long-term debt by November 30, 2020.

Read More

A public equity offering closed on October 14, 2020, producing a gross sale of $12 million.

A loss of $6.9 million, or $0.22 per share, was reported, excluding non-recurring items.

Compared to an Operating Loss of $4.2 million the prior year, the First Quarter of 2021 results in an Operating Loss of $5.6 million.

1.3 million discontinued operations charges for increased workers’ compensation reserves related to the January 2020 Asset Sale.

Despite impacts during the first quarter of 2021 of new COVID-19 restrictions on Southern California-based restaurant customers, gross billings grew 15% to $19.8 million, up from $17.2 million in the same period of Fiscal 2020.

A 15% increase in revenues occurred in the 2021 First Quarter compared to $2.2 million in Fiscal 2020’s same period.

The 2021 first quarter’s gross profit was $513,000, or 20% of revenues, including charges of $180,000 for additional workers’ compensation reserves, compared to $221,000 in Fiscal 2020. With COVID-19 related workers’ compensation charges excluded, gross profit would have been 27% of revenues instead of 10% of revenues for the first quarter of Fiscal 2020.

The first quarter of Fiscal 2021 had an operating loss of $6.1 million versus the first quarter of Fiscal 2020, which had an operating loss of $4 million. Excluding non-recurring expenses, operating expenses were $4.9 million. Excluding non-recurring charges and non-cash charges, the cash basis using Fiscal 2021 expenditures was $4.3 million compared to $4.2 million in Fiscal 2020’s first quarter.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Summary

ShiftPixy, Inc. (NASDAQ: PIXY)is a groundbreaking human capital resources provider, revolutionizing jobs in the Gig Economy by offering a next-gen workforce management tool that helps shift-based employee businesses navigate compliance demands, reduce administrative burdens, and connect more with a ready-to-hire workforce. The Company’s upbeat quarterly results seemed to be the driving force behind the sudden surge of the stock in the late hours.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Why Nano Dimension (NNDM) Leapt 7% In Aftermarket Trading On Friday?

After-hours trading on Friday saw Nano Dimension Corp (Nasdaq: NNDM) hit $7.97 a share rising 4.73%. The stock saw a decline of -2.31% to...

What Caused The Anchiano Therapeutics (ANCN) To Continue Rally After-Hours?

The clinical-stage biotech company Anchiano Therapeutics Ltd. (Nasdaq: ANCN) saw its stock rising 40.12% in after-hours trades on Friday. The price of the company’s...

Are The Financial Results Weighing On Senseonics (SENS) Stock In Premarket Today?

Shares of medical technology Senseonics Holdings, Inc. (NYSE American: SENS) has been declining -9.67% in pre-market session today falling to a price level of...

ReTo Eco-Solutions, Inc. (RETO) Stock Fell 6% In Pre-Market Trading

The provider of technology solutions around ecological environments ReTo Eco-Solutions, Inc. (NASDAQ: RETO) has been facing a drop in its stock price in pre-market...

Fulgent Genetics (FLGT) Stock Rocketed 34.46% In Extended Trading Following Strong Financial Results

Shares of the testing services and comprehensive testing solutions technology company Fulgent Genetics, Inc. (NASDAQ: FLGT) rocketed 34.46% in the after-hour trades on Thursday....

After An Impressive 300% Rally, Why Did Second Sight Medical Products (EYES) Get Dropped After-Hours?

Shares of the implantable visual prosthetics company, Second Sight Medical Products, Inc. (NASDAQ: EYES) have seen a fall of -12.61% in after-hours trading on...

After-Hours Market: More Gains For Bionano Genomics (BNGO)

Bionano Genomics, Inc. (Nasdaq: BNGO) saw its stock price continue rising even after the ring of the bell on Friday. The company gained 7.13%...

Adaptive Biotechnologies Corporation (ADPT) Leapt 18% In Extended Trading. Here’s Why?

Adaptive Biotechnologies Corporation (Nasdaq: ADPT), a commercial-stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, has seen its share price surging 18.16% in extended trading to $49.90.

Related News

After An Impressive 300% Rally, Why Did Second Sight Medical Products (EYES) Get Dropped After-Hours?

Shares of the implantable visual prosthetics company, Second Sight Medical Products, Inc. (NASDAQ: EYES) have seen a fall of -12.61% in after-hours trading on...

Why CLPS Inc. (CLPS) Stock Is Rising 30% In Pre-Market Session? Here Is An Explanation

Shares of the information technology firm CLPS Incorporation (Nasdaq: CLPS) have been climbing in the early pre-market session today. As of 08:06 a.m. EST,...

Why The Stock of Jaws Acquisition (JWS) Has Risen 12% After-Hours?

Share of the blank check company Jaws Acquisition Corp. (NYSE: JWS) has risen 11.99% in extended trading on Thursday. The company saw its share...

The Driving Force Behind 10% After-Hour Increase In Resideo Technologies (REZI) Stock

The provider of home comfort and security solutions worldwide, Resideo Technologies, Inc. (NYSE: REZI) surged by 9.86% in extended trading, bringing the stock to...

Why The KemPharm (KMPH) Stock Has Been Rising More Than 50% In Early Trades?

The specialty pharmaceutical company KemPharm, Inc. (NASDAQ: KMPH) has been seeing its shares skyrocketing in early trades today. As of 10:46 a.m. EST, the...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.