Why Sigma Labs Inc (SGLB) stock started Thursday, April 22, 2021, with negativity and lost 7.76% in the normal trading session and closed at $3.21 per share. but in the after-hours, it gained 14.02% and closed at $3.66 per share.
SGLB shares have risen by 43.95% over the last 12 months, and they have moved down by -0.62% in the past week. Over the past three months, the stock has lost -19.14%, while over the past six months, it has added 22.52%.
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Let’s have a look at its recent announcement
Financial results announcement
On April 22, 2021, Sigma Labs, Inc. announced its financial and operational results for the first quarter ended March 31, 2021.
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Q1 2021 financial highlights
- Sigma Labs earned a revenue of $458,140 for Q1 2020 compared to revenues of $221,730 for the first quarter of 2020.
- It spent $1.8 million in total operating expenses in Q1 2020 compared to total operating expenses of $1.6 million for the same period in 2020.
Q1 2021 gross profit was $329,809, compared to negative $22,973 in the first quarter of 2020. - For the reported quarter, It used $1.2 million cash in operating activities compared to $1.5 million in the first quarter of 2020.
- Sigma Labs suffered a net loss of $0.7 million, or $0.09 per share in Q1 2021 compared to a net loss of $1.6 million, or $1.30 per share, in the first quarter of 2020.
- On March 31, 2021, the company had total cash of $16.8 million compared to $3.7 million on December 31, 2020.
Initial contract from Ermaksan Innovative Technologies
On April 7, 2021, Ermaksan Innovative Technologies selected stigma Labsto provide itsPrintRite3D, In-Process Quality Assurance technology, as a factory option on its ENAVISION 3D metal additive machines and will be integrated with the Materialise Control Platform (MCP).
Initially, PrintRite3D will be installed for a single system at the Ermaksan facility in Bursa, Turkey.
Closing the registered direct offering of common stock
On March 26, 2021, Sigma Labs, Inc. closed the previously announced registered direct offering of 2,190,000 of its shares of common stock.
The combined purchase price for one common stock and a warrant to purchase one share of common stock was $4.445.
Gross proceeds of approximately $9.7 million will be used for the company’s operations.
Q4 and FY 2020 results announcement
On March 24, 2021, Sigma Labs, Inc. reported its financial and operational results for the fourth quarter and full-year ended December 31, 2020.
Q4 2020 financial highlights
- Q4 2020 revenue was $169,500 compared to $133,000 in Q4 2019.
- The gross margin for the fourth quarter 2020was negative $22,000 compared to negative $105,000 in Q4 2019
- Total operating expenses for Q4 2020 were $1.5 million.
- Net loss in the fourth quarter of 2020 was $1.6 million, compared to a net loss of $1.6 million, in the fourth quarter of 2019.
FY 2020 Financial highlights
- Revenue for the full year of 2020 totalled $807,500 compared to $402,500
- Gross profit for the full year of 2020 was $215,000compared to gross profit of negative $172,000for the full year of 2019.
- Total operating expenses for 2020 were $5.9 million compared to $6.2 million in FY 2019.
- For FY 2020, net loss applicable to common shareholders was $7.0 million, or $1.83 per share, as compared to a net loss of $6.3 million, or $5.37per share in 2019.
- On December 31, 2020, Sigma Labs had totalled cash $3.7 million compared to $0.1 million on December 31, 2019.
Conclusion
The turnaround on Thursday was due to the better financial results announcement. We can expect that SGLB stock will end the week on the positive side.
