Business
PURE Bioscience Reports Fiscal 2020 Second Quarter and Six-Month Financial Results
PURE Bioscience Reports Fiscal 2020 Second Quarter and Six-Month Financial Results.
About this update from Pure Bioscience
[{"type":"text","content":"\nPURE Bioscience, Inc. (OTCQB: PURE), creator of the patented non-toxic silver dihydrogen citrate (SDC) antimicrobial, today reported financial results for the fiscal second quarter and six-month period ended January 31, 2020.\n\n\nQ2: Summary of Results of Operations\n\n\n\nRevenues for the fiscal second quarter ended January 31, 2020 decreased 11% to $349,000, compared to revenues of $394,000 in the prior year fiscal second quarter. The decrease was attributable to a reduction in sales to one of our distributors.\n\n\nNet loss for the fiscal second quarter in 2020 was ($666,000), compared to a loss of ($1.3 million) for the fiscal second quarter in 2019. Net loss, excluding share-based compensation, for the fiscal second quarter in 2020 was ($577,000), compared to a loss of ($839,000) for the fiscal second quarter in 2019.\n\n\nNet loss per share was ($0.01) for the fiscal second quarter in 2020 compared to ($0.02) for the fiscal second quarters in 2019 and 2018.\n\n\nGross margin was 59% for both the three months ended January 31, 2020 and January 31, 2019.\n\n\n\nSix Months: Summary of Results of Operations\n\n\n\nRevenues for the six months ended January 31, 2020 decreased 12% to $747,000, compared to revenues of $984,000 for the six months ended January 31, 2019. The decrease was primarily attributable to a reduction in sales to one of our distributors, as well as a reduction in sales of our raw material ingredient, SILVÉRION®.\n\n\nNet loss for the six months ended January 31, 2020 was ($1.8 million), compared to ($3.9 million) for the six months ended January 31, 2019. Net loss, excluding share-based compensation, for the six months ended January 31, 2020 was ($1.2 million), compared to ($1.7 million) for the six months ended January 31, 2019.\n\n\nNet loss per share was ($0.02) compared to ($0.05) for the six months ended January 31, 2019 and January 31, 2018.\n\n\nGross margin was 60% for the six months ended January 31, 2020 compared to 63% for the six months ended January 31, 2019. The decrease in gross margin percentage was primarily attributable to the sale of higher margin formulations and packaging configurations of our products during the six months ended January 31, 2019 compared to the six months ended January 31, 2020.\n\n\n\nBusiness Update\n\n\n\nPURE Control®\n\n\nSmartWash® Boost: We ...