Business
Kneat Announces Fiscal 2020 Fourth Quarter and Fiscal Year 2020 Results
Kneat Announces Fiscal 2020 Fourth Quarter and Fiscal Year 2020 Results Canada ...
About this update from Kneat.com, Inc.
[{"type":"text","content":"\n \n \n \n Kneat Announces Fiscal 2020 Fourth Quarter and Fiscal Year 2020 Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n 2020 Total Revenues of\n \n $7.42 million\n \n , up 88% Year-over-year\n \n \n \n Q4 Revenues of\n \n $2.96 million\n \n , up 112% Year-over-year\n \n \n \n \n 2020 SaaS Revenues of\n \n $2.88 million\n \n , up 243% Year-over-year\n \n \n \n Q4 SaaS Revenues of\n \n $1.14 million\n \n , up 234% Year-over-year\n \n \n \n \n Annualized Recurring Revenue was\n \n $4.76 million\n \n at Year End, up 149% Year-over-year\n \n \n \n LIMERICK,\n \n Ireland\n \n ,\n \n Feb. 23, 2021\n \n /CNW/ -\n \n kneat.com, inc.\n \n (TSXV: KSI)\n \n (\"Kneat\")\n \n a company focused on digitizing and automating Validation processes for Life Sciences today announced results for its fiscal fourth quarter and year ended\n \n December 31, 2020\n \n .  All dollar amounts are presented in Canadian dollars unless otherwise stated.\n \n \n \n \n \n \n \n \n \n \n \"\n \n \n We are proud of our team as they executed very well through 2020.  During the year, we were successful in signing additional top tier Biopharma companies while increasing utilization metrics within our existing customer base.   Our senior management team was expanded, and we strengthened our corporate structure as we continued to build out the Kneat SaaS platform.\"\n \n \n said CEO\n \n Eddie Ryan\n \n \n .  \"\n \n Business momentum is building and we are strongly positioned for continued execution in 2021 and beyond.\"\n \n \n \n \n Fiscal 2020 Fourth Quarter Results:\n \n \n \n \n \n Revenues:\n \n Total revenues for the fourth quarter were\n \n $2.96 million\n \n , up from\n \n $1.40 million\n \n one year ago, an increase of 112% year-over-year.  SaaS revenues for the fourth quarter were\n \n $1.14 million\n \n , up from\n \n $0.34 million\n \n one year ago, an increase of 234% year-over-year.\n \n \n \n Gross Margin:\n \n Fourth quarter gross margin was\n \n $1.60 million\n \n , compared ...