Minim Inc (NASDAQ:MINM) has been out of the news cycle for many weeks now but even then the stock saw heavy action yesterday and not in a good way as it plunged by as much as 15%.
In light of the fact that there has been no recent development about the company it could be a good move for investors to take a look at its second fiscal quarter results, which were announced on August 16. In the quarter that ended on June 30, 2021 the intelligent networking products firm generated revenues of as much as $14.9 million, which worked out to a rise of as much as 45% year on year from the $10.9 million it generated in Q2 2020.
In addition to that, it should be noted that the rise in revenues also surpassed the growth of 26% that had been clocked last year. On the other hand, Minim managed to continued with its improvements on the gross margins front, which went up to 30.1% and worked out to a rise of 940 basis points.
The net losses went up marginally from $1.5 million in the prior year period to $1.6 million in the second quarter of 2021.
