Company
Skodix
+8.83%
Base:395.1
opening:430
Tall:450
low:421
change:279,013
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Digital Systems Manufacturer has completed the sale of two Skodix Ultra 2000 systems for $ 1.4 million. The deal was signed with an existing customer of the company, which specializes in photo printing in the United States.
Upon completion of the purchase of the above two systems, a customer will hold a total of 8 systems of the Company at various sites in the United States. The other two systems were purchased by the customer as part of a project to increase the output of custom greeting card production.
The company estimates that its revenues from the above contracts with the customer are expected to be received by the end of 2021, which together with revenues for a system sold to it earlier this year and together with revenues for the service contract and the sale of polymers, amount to $ 2.2 million.
The company was issued four months ago, and has since managed to lose 38% of its height. It was issued at a value of NIS 197 million and is now traded at a market value of NIS 119 million. Since this is a small company, it decided to publish its results only every six months, but it seems that its results for the third quarter are better than expected and therefore decided to report them, as part of a presentation to investors, so these are not ‘official’ results.
The company reported revenue of $ 6.2 million in the third quarter, compared to revenue of $ 8.8 million in the first half of the year, ie – in the third quarter the company entered about 70% of its revenue in the first half of the year and this is growth compared to previous weak results. On the other hand, it is worth noting that the company made about $ 16 million last year, but following the corona, it is a drop of 50% compared to 2019.
Bottom line – the company showed slight revenue growth, but it is still very far from the results of 2019. Removing the ‘live business’ comment following the capital raising and joining the stock market is of course positive, and assuming the company returns to selling at pre-corona levels it is expected to increase later.
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