Business
PURE Bioscience Reports Fiscal 2022 Second Quarter And Six-Month Financial Results
PURE Bioscience Reports Fiscal 2022 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, 2022.\n\nQ2: Summary of Results of Operations\n\n\nNet product sales for the fiscal second quarter ended January 31, 2022 decreased 52% to $415,000, compared to $868,000 for the fiscal second quarter ended January 31, 2021. The decrease of $453,000 was attributable to decreased sales across our distribution network servicing the food processing, transportation and janitorial industry.\n\n\nNet loss for the fiscal second quarter ended January 31, 2022 was $702,000, compared to $595,000 for the fiscal second quarter ended January 31, 2021. Net loss, excluding share-based compensation, for the fiscal second quarter ended January 31, 2022 was $522,000, compared to $354,000 for the fiscal second quarter ended January 31, 2021.\n\n\nNet loss per share was ($0.01) for the fiscal second quarters ended January 31, 2022 and 2021, respectively.\n\n\nSix Months: Summary of Results of Operations\n\n\nNet product sales for the six months ended January 31, 2022 decreased 60% to $912,000, compared to $2,285,000 for the six months ended January 31, 2021. The decrease of $1,373,000 was attributable to decreased sales across our distribution network servicing the food processing, transportation and janitorial industry. In addition, during the six months ended January 31, 2022, we recognized $5,000 in royalties from a nonexclusive third-party distributor, compared to $222,000 for the six months ended January 31, 2021.\n\n\nNet loss for the six months ended January 31, 2022 was $1,498,000, compared to $775,000 for the six months ended January 31, 2021. Net loss, excluding share-based compensation, for the six months ended January 31, 2022 was $1,128,000, compared to $305,000 for the six months ended January 31, 2021.\n\n\nNet loss per share was ($0.02) for the six months ended January 31, 2022 and ($0.01) for the six months ended January 31, 2021.\n\n\nBusiness Update\n\nFood Safety\n\nPURE and SmartWash Solutions® continue to develop and test PURE Control® for the fresh-cut industry. Taylor Fresh Foods, Inc. (Taylor Farms) is developing a commercial line to test SmartWash Boost® on leafy greens. The patented SmartWa...