Business
Ecoark Holdings, Inc Announces Operating Results for Fiscal Second Quarter of 2021
Ecoark Holdings, Inc Announces Operating Results for Fiscal Second Quarter of 2021.
About this update from Riskon International, Inc.
[{"type":"text","content":"\n SAN ANTONIO, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Ecoark Holdings, Inc. (\"Ecoark\") (OTC: ZEST) today announced that on Friday, November 6, 2020, it filed its financial results for the quarter ended September 30, 2020, its fiscal second quarter of 2021. Highlights include:   Achieved revenue of $3.28 million versus $2.31 million sequentially and $0.04 million in the prior year quarter.Reported net income of $8.99 million or $0.09 earnings per basic share and $0.08 earnings per diluted share versus a net loss of ($21.18) million and ($0.23) per share basic and diluted sequentially and a net loss of ($4.39) million or ($0.07) loss per basic and diluted share in the prior year quarter. The results for the three months ended September 30, 2020 were materially impacted by a $14.952 million non-cash gain arising from the exercise of warrants, and a $1.011 million non-cash gain from the change in the fair value of our warrant derivative liability.Reported Adjusted EBITDA of ($2.21) million versus $0.06 million sequentially and ($1.74) million in the prior year quarter1.Cash on hand as of September 30, 2020 was $1.664 million, up from $0.449 million as of September 30, 2019.Reported stockholders’ equity of $17.791 million as of September 30, 2020 versus a stockholders’ deficit of ($1.873) million as of September 30, 2019. “We are proud of the Ecoark team for executing the timely filing of our quarterly report, more than a week ahead of the deadline,” said Randy May, Chief Executive Officer of Ecoark. “We continue to drive strong growth across our operations, as evidenced by a 42% sequential increase in revenue for our fiscal second quarter of 2021. Our strong operational results are further bolstering our financial position, including a more than $1 million increase in our cash balance and an approximately $20 million improvement in our stockholders’ equity position as compared to the same quarter last year.”   “We continue to pursue an uplist to the Nasdaq Capital Market, and our application is currently active and under review,” continued Mr. May. “We remain confident in our standing and believe that our most recent reported quarterly results further improve our position and the strength of our application. We remain focused on strategically investing in ...