Guardion Health Sciences Inc. (NASDAQ:GHSI) jumped 14% after announcing financial results for the quarter and six months ended June 30, 2021, and also offered a corporate update. The company reported a 3% increase in total revenue of $1.234 million compared to $1.191 million a year ago. Last year’s revenue included product sales of around $890,000 to a Malaysian distributor.
In the current quarter, the company didn’t realize any revenue from the distributor because there were no repeat orders as the pandemic impacted demand. Despite the company having business initiatives in Asia, it doesn’t expect them to generate revenues until next year.
For the three months ending June, the company reported one month of revenue from Activ Nutritional, representing 86% of the company’s total revenue for the period. Net loss for the quarter was $4.54 million or $0.19 per share, and the net loss included transaction costs associated with Activ Nutritional LLC’s acquisition. In addition, the company ended the quarter in a strong cash position with $12.5 million in cash and investments. Thus, GHSI is worth watching.
Market Reaction:
On Tuesday, GHSI stock gained 13.80% to $1.32 with more than 1.86 million shares, compared to its average volume of 350k shares. The stock has moved within a range of $1.1500 – 1.4200 after opening the trade at $1.15.
