There may not have been a lot of news about the benefits administration technology company Smart Employee Benefits Inc (OTCMKTS:SEBFF) (SEB.V) in recent times but it may be a company worth following. The company had come into focus among investors back on March 31 after it announced its financial results for the fourth fiscal quarter as well as the fiscal year, both of which had ended on November 30 last year. It may actually be a good time right now for investors to consider taking a look at the highlights of the financial results.
In the 2021 fiscal year, the company managed to bring in revenues to the tune of as much as $61.7 million and that reflected a year-on-year rise of 1.9% from the $60.6 million in revenues that Smart Employee Benefits had generated in 2020.
The revenues from the benefits solutions segment of the business alone came in at $17.9 million and that also reflected a significant rise from the revenues of $15.1 million that had been generated in 2020. On the other hand, the revenues from technology services came in at $46.5 million in fiscal 2021. However, that proved to be lower than the revenues of $47.4 million that were generated in the previous year.
The gross margins in the 2021 fiscal year stood at 35.6% and that was a slight improvement from the gross margins of 33.5% in the 2020 fiscal year. However, it is perhaps more important to point out that the Smart Employee Benefits management also stated that due to the contracts it has managed to bag over the course of the past 15 months, the revenues are going to rise in 2022 and that can only be good news for investors. It may be a good idea now to keep an eye on the stock this week.
