Business
Sphere 3D Reports Second Quarter Fiscal Year 2021 Financial Results
Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - Sphere 3D Corp. (NASDAQ: ANY) (the "Company" or "Sphere 3D"), a company delivering containerization,
About this update from Sphere 3d Corp.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - Sphere 3D Corp. (NASDAQ: ANY) (the \"Company\" or \"Sphere 3D\"), a company delivering containerization, virtualization, and data management solutions, today reported financial results for its second quarter ended June 30, 2021.\nSecond Quarter 2021 Financial Results:\nOur results for second quarter 2021 were as follows:\n\n\nRevenue was $0.9 million in the both the second quarters of 2021 and 2020.\n\n\nGross margin for second quarter of 2021 was 43.7%, compared to 49.6% for the second quarter of 2020.\n\n\nOperating expenses for second quarter of 2021 were $3.9 million, compared to $2.4 million for the second quarter of 2020.\n\n\nDepreciation and amortization was $0.2 million for both the second quarter of 2021 and 2020.\n\n\nNet loss available to common shareholders for second quarter of 2021 was $3.0 million, or a net loss of $0.19 per share, compared to a net loss available to common shareholders of $1.9 million, or a net loss of $0.41 per share, for the second quarter of 2020.\n\n\nNet loss, before dividends on preferred shares, for the second quarter of 2021 was $2.9 million.\n\n\nDividends on preferred shares for the second quarter of 2021 was $169,000 compared to nil for the second quarter of 2020.\n\n\nSix Months Ended June 30, 2021 Financial Results:\n\n\nRevenue for the first six months of 2021 was $1.8 million, compared to $1.9 million for the first six months of 2020.\n\n\nGross margin for the first six months of 2021 was 44.8%, compared to 47.6% for the first six months of 2020.\n\n\nOperating expenses for the first six months of 2021 were $5.6 million, compared to $4.0 million for the first six months of 2020.\n\n\nDepreciation and amortization for the first six months of 2021 was $0.3 million, compared to $0.5 million in the first six months of 2020.\n\n\nNet loss available to common shareholders for the first six months of 2021 was $5.6 million, or a net loss of $0.44 per share, compared to a net loss available to common shareholders of $3.0 million, or a net loss of $0.70 per share, in the first six months of 2020.\n\n\nNet loss, before dividends on preferred shares, for the first six months of 2021 was $5.3 million.\n\n\nDividends on preferred shares for the first six months of 2021 was $362,000 compared to nil for the first six months of 2020.\n\n\nInve...