Evolving Systems Inc (NASDAQ:EVOL) recently declared its financial results for 2Q ending June 30 2021. The corporate house reported $7.0 million as its revenue for the second quarter. The year-to-date gains of the company are reported $13.5 million. Furthermore, during the quarter, the company has generated positive cash flow from operations, and an increase in cash and cash equivalents balance to $4.9 million is reported.
Evolving Systems Inc has a profitable second quarter. While the company’s net income is $1.0 million, the group registered $0.4 million as its operating profit for the second quarter. Moving on to other numbers from the financial results, the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) is also positive. Adjusted EBITDA is $0.7 million.
The Chief Executive Officer and Executive Chairman of Evolving Systems Inc, Matthew Stecker, commented on the group’s financial results. Stecker conveyed that the group is happy to present positive results despite the global slowdown caused due to the coronavirus pandemic and its aftermath. In addition, the Chief Executive Officer and Executive Chairman of the corporate house informed that the group continues to do business through telework, and no compromise is made on the service offered to customers.
Market Reaction:
On Friday, EVOL stock gained 3.26% at $2.22 with more than 27k shares, compared to its average volume of 94k shares. The stock has moved within a range of $2.1201 – 2.2300 after opening the trade at $2.14.
