-
Dividends on preferred shares for the first nine months of 2021 was $530,000 compared to nil for the first nine months of 2020.
Investor Conference Call:
Sphere 3D will not be hosting a third quarter fiscal year 2021 earnings conference call.
About Sphere 3D: Sphere 3D Corp. /zigman2/quotes/208465717/composite ANY -3.33% delivers containerization, virtualization, and data management solutions via hybrid cloud, cloud and on-premise implementations both directly and through its reseller network and professional services organization. Sphere 3D has a portfolio of brands, including HVE ConneXions, and UCX ConneXions, dedicated to helping customers achieve their IT goals. For more information, visit www.sphere3d.com . Follow us on Twitter @Sphere3D and @HVEconneXions.
Safe Harbor Statement:
This press release contains forward-looking statements that involve risks, uncertainties, and assumptions that are difficult to predict. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties including, without limitation, our inability to obtain additional debt or equity financing; any increase in our cash needs; the Company's ability to maintain listing with the NASDAQ Capital Market; market adoption and performance of our products; the level of success of our collaborations and business partnerships; possible actions by customers, partners, suppliers, competitors or regulatory authorities; and other risks detailed from time to time in our periodic reports and other filings with the United States Securities and Exchange Commission ( www.sec.gov ) and with Canadian securities regulators ( www.sedar.com ). Sphere 3D undertakes no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
Investor Contact:
Kurt Kalbfleisch
+1-858-495-4211
Investor.relations@sphere3d.com
SPHERE 3D CORP. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except share and per share data)
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
||||||
|
|
|
September 30, |
|
|
September 30, |
|
||||||
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
|
(Unaudited) |
|
|
|
|
|
(Unaudited) |
|
|
|
|
Revenue | $ | 1,041 |
|
$ | 890 |
|
$ | 2,875 |
|
$ | 2,791 |
|
|
Cost of revenue |
|
556 |
|
|
356 |
|
|
1,568 |
|
|
1,352 |
|
|
Gross profit |
|
485 |
|
|
534 |
|
|
1,307 |
|
|
1,439 |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating expenses: |
|
|
|
|
|
|
|
|
|||||
|
Sales and marketing |
|
287 |
|
|
336 |
|
|
998 |
|
|
872 |
|
|
Research and development |
|
297 |
|
|
264 |
|
|
803 |
|
|
947 |
|
|
General and administrative |
|
2,446 |
|
|
1,590 |
|
|
6,868 |
|
|
4,406 |
|
|
|
|
3,030 |
|
|
2,190 |
|
|
8,669 |
|
|
6,225 |
|
Loss from operations |
|
(2,545 | ) |
|
(1,656 | ) |
|
(7,362 | ) |
|
(4,786 | ) | |
Other income (expense): |
|
|
|
|
|
|
|
|
|||||
|
Interest expense - related party |
|
- |
|
|
(191 | ) |
|
(496 | ) |
|
(309 | ) |
|
Interest expense |
|
(1 | ) |
|
(57 | ) |
|
(20 | ) |
|
(142 | ) |
|
Interest income and other, net |
|
146 |
|
|
715 |
|
|
225 |
|
|
1,002 |
|
Loss before income taxes |
|
(2,400 | ) |
|
(1,189 | ) |
|
(7,653 | ) |
|
(4,235 | ) | |
Provision for income taxes |
|
- |
|
|
1 |
|
|
- |
|
|
4 |
|
|
Net loss |
|
(2,400 | ) |
|
(1,190 | ) |
|
(7,653 | ) |
|
(4,239 | ) | |
Dividends on preferred shares |
|
168 |
|
|
- |
|
|
530 |
|
|
- |
|
|
Net loss available to common shareholders | $ | (2,568 | ) | $ | (1,190 | ) | $ | (8,183 | ) | $ | (4,239 | ) | |
|
|
|
|
|
|
|
|
|
|
||||
Net loss per share: |
|
|
|
|
|
|
|
|
|||||
|
Basic and diluted | $ | (0.07 | ) | $ | (0.17 | ) | $ | (0.41 | ) | $ | (0.81 | ) |
Shares used in computing net loss per share: |
|
|
|
|
|
|
|
|
|||||
|
Basic and diluted |
|
34,327,302 |
|
|
6,949,010 |
|
|
20,004,425 |
|
|
5,240,003 |
|
SPHERE 3D CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands)
|
|
|
September 30, |
|
|
December 31, |
|
|
|
|
2021 |
|
|
2020 |
|
|
|
|
(Unaudited) |
|
|
(Unaudited) |
|
ASSETS |
|
|
|
|
|
|
|
Cash and cash equivalents | $ | 100,521 |
|
$ | 461 |
|
|
Accounts receivable, net |
|
226 |
|
|
264 |
|
|
Inventories |
|
501 |
|
|
558 |
|
|
Notes receivable |
|
2,140 |
|
|
- |
|
|
Other current assets |
|
1,686 |
|
|
807 |
|
|
|
Total current assets |
|
105,074 |
|
|
2,090 |
|
Notes receivable |
|
11,386 |
|
|
3,207 |
|
|
Investment in special purpose acquisition company |
|
5,420 |
|
|
- |
|
|
Investment |
|
2,100 |
|
|
2,100 |
|
|
Intangible assets, net. |
|
13,186 |
|
|
2,608 |
|
|
Goodwill |
|
1,385 |
|
|
1,385 |
|
|
Other assets |
|
85,300 |
|
|
443 |
|
|
|
Total assets | $ | 223,851 |
|
$ | 11,833 |
|
|
|
|
|
|
|
||
|
|
|
|
|
|
||
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|||
Current liabilities | $ | 3,239 |
|
$ | 5,805 |
|
|
Long-term debt |
|
- |
|
|
672 |
|
|
Other long-term liabilities |
|
1,140 |
|
|
347 |
|
|
Total shareholders' equity |
|
219,472 |
|
|
5,009 |
|
|
|
Total liabilities and shareholders' equity | $ | 223,851 |
|
$ | 11,833 |
|

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103633
COMTEX_396990420/2523/2021-11-15T17:10:56
Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.
copyright (c) newsfile corp. 2021. all rights reserved


