Business
Sonoma Pharmaceuticals Reports First Fiscal Quarter 2024 Financial Results
Revenue increased 6% in the first fiscal quarter compared to the same period last year, excluding a one-time event last yearMargins remained consistent year
About this update from Sonoma Pharmaceuticals, Inc.
[{"type":"text","content":"Revenue increased 6% in the first fiscal quarter compared to the same period last year, excluding a one-time event last yearMargins remained consistent year over year in an inflationary period, excluding the one-time eventSonoma continued to manage cash tightly, using only $0.3 million of cash in its first fiscal quarterBOULDER, CO / ACCESSWIRE / August 10, 2023 / Sonoma Pharmaceuticals, Inc. (Nasdaq:SNOA),a global healthcare leader developing and producing stabilized hypochlorous acid (HOCl) products for a wide range of applications, including wound, eye, oral and nasal care, dermatological conditions, podiatry, animal health care and non-toxic disinfectants, today announced financial results for its first fiscal quarter ended June 30, 2023.\"We continued to grow our core business in the first fiscal quarter by adding new products, partners and territories while containing costs,\" said Amy Trombly, CEO of Sonoma. \"Excluding a one-time event in the prior year, our first fiscal quarter revenues increased 6% compared to the same period last year, demonstrating continued customer demand for existing and new applications of our technology.\"Business HighlightsSonoma continued to meet customer needs by introducing new products and expanding its worldwide distribution network:On June 8, 2023, Sonoma announced a new application of its Microcyn® technology for intraoperative pulse lavage irrigation treatment, which can replace commonly used IV bags in a variety of surgical procedures and is expected to be ready for commercial use in Europe in September 2023. Commercial launch in the U.S. is anticipated in 2024.On April 11, 2023, Sonoma launched PodiacynTM Advanced Everyday Foot Care direct to consumers for over-the-counter use in the United States, intended for management of foot odors, infections, and irritations, as well as daily foot health and hygiene.Sonoma continued to expand its reach in the Middle East and in Asia, when one of its existing distribution partners initiated sale of Sonoma's wound care products in Saudi Arabia, and another distributor expanded sales in Uzbekistan.Results for the Quarter Ended June 30, 2023Total revenues for the quarter ended June 30, 2023 of $3.4 million decreased by $0.6 million, or 14%, as compared to $4.0 million for the same period last year. In the quarter ended June 30, 2022, Sonoma sold mac...