Shares of software as a service (SaaS) provider company GTY Technology Holdings Inc. (GTYH) dropped 9.67% after the ring of the bell on Tuesday.
The company today announced its Q4 and full-year 2020 financials with weaker than expected revenue and income results.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
- For the fourth quarter of 2020, total GAAP revenue was $13.1 million, up 14% over the previous year’s $11.5 million; the analysts’ consensus for the same was $13.54 million.
- A loss of -$12.44 million was sustained for the reported quarter, or $0.23 per share, compared to a net loss of -$36.5 million, or -$0.70 per share in the same quarter a year ago. Analysts were expecting the company to make a loss of -0.05 per share.
- Gross profit came at $8.2 million, up from a year-ago gross profit of $6.6 million, while Gross margin remained 62%, up from 58% in the fourth quarter of 2019.
- A reduced Q4 operating loss of -$11.1 million is posted by the company, as compared to -$42.6 million for the same period in 2019.
- For the full year 2020, total GAAP revenue of $48.1 million was generated by the company, up 32% from $36.4 million generated in 2019 and analysts were estimating the same to be at $49 million.
- The company posted a net loss of -$44.0 million, or -$0.82 per share, for the full year 2020 against analysts’ consensus of -$0.26 per share.
In the regular session on the day, GTY Technology Holdings Inc. (GTYH) stock saw a decline of -0.24% to close the trading at $8.17.