Business
Sonoma Pharmaceuticals Reports Fiscal Year and Fourth Quarter 2021 Financial Results
Total Revenues Increase 4% Year over Year Strong International Growth with 34% Increase in Product Revenues Year over Year Increase in Net Loss by $0.8
About this update from Sonoma Pharmaceuticals, Inc.
[{"type":"text","content":"\n\nTotal Revenues Increase 4% Year over Year\n\n\nStrong International Growth with 34% Increase in Product Revenues Year over Year\n\n\nIncrease in Net Loss by $0.8 Million Year over Year due to $3.6 Million in Gain on Sale of Assets Last Year\n\n\nEBITDAS Loss Declined by $3.4 Million Year over Year\n\n\n WOODSTOCK, Ga.--(BUSINESS WIRE)--\nSonoma Pharmaceuticals, Inc. (Nasdaq: SNOA), a global healthcare leader developing and producing stabilized hypochlorous acid (HOCl) products for a wide range of applications, including wound care, eye, oral and nasal care and dermatological conditions today announced financial results for fiscal year 2021 and the fourth quarter ended March 31, 2021.\n\n“For the past 18 months we have been restructuring the Company to cut losses while positioning it for growth,” said Amy Trombly, CEO. “Last year we consolidated all manufacturing at our factory in Mexico (June), and ended our contract with Invekra that required us to sell product with low margin (October). This year, we entered into a partnership agreement with EMC Pharma, LLC for the sale and distribution of our prescription products in the U.S. allowing us to significantly cut our overhead expenses, including the direct sales force, while continuing to sell our high quality prescription products. Moving forward, we intend to identify additional distribution partners in the U.S. while continuing to bring our pipeline of established products to market and to build on the strength of our international business.”\n\nBusiness Highlights\n\nOn March 26, 2021, Sonoma entered into a new partnership with EMC Pharma, who gained exclusive rights in the U.S. to commercialize our prescription dermatology and prescription eye care products and non-exclusive rights to sell our wound care products into government channels. The initial term of the agreement is five years, it is renewable and subject to minimum purchases.\n\nWe continue to forge new partnerships and expand existing ones to increase our reach both in products sold and regions we sell into. Some recent examples are:\n\n\nIn September 2020, along with our partner Te Arai Biofarma Ltd., we launched two new products in New Zealand, Nasocyn® Nasal Care and Oracyn® Oral Care.\n\n\nIn December 2020, we partnered with Gabriel Science, LLC to sell our HOCl product, Endocyn®, into dental markets in the...