Cellect Biotechnology Ltd. (APOP) stock prices were up by 4.09% as of the market closing on May 21st, 2021, bringing the price per share up to USD$2.80 at the end of the trading day. Subsequent pre-market fluctuations saw the price rise by 2.86%, up to USD$2.88.
Improved Revenue Reports
The company reported highly promising improvements in the performance of revenue over the past fiscal year. The first quarter of 2021 reported USD$9.9 million in revenues, indicating a 123% increase over the USD$4.4 million reported in the first quarter of 2020. Total sales for Q1 2021 were reported at roughly 5.23 million grams, a massive 253% increase over the 1,481,756 grams reported for the first quarter of 2020.
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Subsidiary Revenue Breakdown
Each of the company’s subsidiaries also reported strong increases in revenue generated in Q1 2021. ANM reported an 11.5% increase over the numbers from Q1 2020, coming out to USD$4.4 million. MDT reported USD$1.9 million, a staggering 36% increase over the numbers from the first quarter of the prior year. Coastal Harvest contributed with an 88.6% increase from the year prior quarter, with reports of usD$3.4 million in revenue. Halo Winberry reported USD$3.4 million, after not having been included in the reports for the quarter ended March 31st, 2020.
Gross Profit Improvement
With Q1 2020 having reported a gross loss of USD$172,000, the company was pleased to report a Q1 2021 gross profit of USD$2 million. Gross profits as adjusted for the loss on biological assets were reported at USD$2.2 million, compared to the USD$117,000 reported in Q1 2020. Gross margin after being adjusted for gains and losses on the value of biological assets was reported to be 22.1%, up from the 24% in Q1 2020.
Solid Liquidity Position
As of March 31st, 2021, APOP reported unrestricted cash available in the amount of USD$10.3 million and working capital in the amount of USD$22.5 million. Over the course of Q1 2021, the company used USD$9.4 million in operations. Cash used for investing amounted to USD$1 million, while cash raised from financing activities generated USD$15.9 million over Q1 2021. Total cash inflow for the quarter came out to USD$7.6 million.
Q1 2021 Capital Generation
February 2nd, 2021 saw the company close an overnight marketed public offering that saw the sale of shares of APOP’s common stock, with the aggregate gross proceeds having generated USD$7.2 million. Shortly after, on February 19th, 2021, the company closed another overnight marketed public offering of shares of its common stock, this time generating aggregate gross proceeds of USD$9.1 million.
Future Outlook for 2021
Armed with a solid liquidity position afforded by the two equity offerings in February of the fiscal year 2021, APOP is poised to continue its impressive trajectory of growth. With such solid financial numbers reported for the start of 2021, current and potential investors hope for a lucrative rest of the year that will see significant and sustained increases in shareholder value.