PopReach Corporation (TSXV: POPR), today announced the company’s financial results for the first quarter of 2021. They reported flat revenues of $4.1 million, compared to $4.1 million in the fourth quarter of 2020, and $4.7 million in the first quarter of 2020. Net income of $2.2 million was reported for the period.
The company reported gross profit margin of 62%, versus 61.3% in the fourth quarter of 2020, and 48.8% in the first quarter of 2020. Operating expenses of $2.6 million were recorded, compared to $2.9 million in the fourth quarter of 2020, and $2.6 million in the first quarter of 2020.
Adjusted EBITDA of $0.9 million was recorded, versus $0.7 million in the fourth quarter of 2020, and $0.9 million in the first quarter of 2020.
Cash at the end of March 31, 2021, was at $14.8 million, versus the $18.1 million from the end of 2020, and outstanding debt on the bank credit facility was at $5.9 million, versus $6.0 million from the end of 2020 with the decrease in cash attributed to payments relating to the company’s first quarter 2021 M&A activities.
PopReach Corporation last traded on the TSX Venture at $0.75.
Information for this briefing was found via Sedar, PopReach, and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
