We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Sphere 3D Corporation | NASDAQ:ANY | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.027 | -2.70% | 0.973 | 0.9762 | 1.00 | 1.04 | 0.956 | 1.01 | 265,589 | 00:59:05 |
“This quarter was the first full quarter since the divestiture of Overland in Q4 of 2018. We were able to reduce our operating expense in Q1 2019 vs Q1 2018 by just over 50%, and saw an increase in gross margins as well,” said Peter Tassiopoulos, chief executive officer of Sphere3D, adding, “We continue to assess the business for additional potential improvements to our operating results.”
First Quarter 2019 Financial Results:On November 13, 2018, the Company closed the divestiture of its Overland subsidiary and related business. The financial results of Overland for the first quarter of 2018 have been reflected in the Company’s consolidated statements of operations as discontinued operations. All results below exclude discontinued operations. Our results for first quarter 2019 were as follows:
Investor Conference Call: Sphere 3D will not be hosting a first quarter fiscal year 2019 earnings conference call.
About Sphere 3D:Sphere 3D Corp. (NASDAQ: ANY) delivers containerization, virtualization, and data management solutions via hybrid cloud, cloud and on-premise implementations through its global reseller network and professional services organization. Sphere 3D has a portfolio of brands, including HVE ConneXions, UCX ConneXions, and SnapServer® 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 contained in our Annual Information Form and other filings with Canadian securities regulators (www.sedar.com) and in prior periodic reports filed with the United States Securities and Exchange Commission (www.sec.gov). 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+1-858-495-4211Investor.relations@sphere3d-overland.com
SPHERE 3D CORP. | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
(In thousands, except share and per share data) | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2019 | 2018 | |||||||
(Unaudited) | ||||||||
Revenue | $ | 2,130 | $ | 2,373 | ||||
Cost of revenue | 1,435 | 1,930 | ||||||
Gross profit | 695 | 443 | ||||||
Operating expenses: | ||||||||
Sales and marketing | 453 | 781 | ||||||
Research and development | 697 | 1,111 | ||||||
General and administrative | 1,252 | 3,000 | ||||||
2,402 | 4,892 | |||||||
Loss from operations | (1,707 | ) | (4,449 | ) | ||||
Interest expense - related party | (142 | ) | (558 | ) | ||||
Interest expense | (3 | ) | - | |||||
Other income (expense), net | 8 | (126 | ) | |||||
Net loss from continuing operations | (1,844 | ) | (5,133 | ) | ||||
Net loss from discontinued operations | - | (1,690 | ) | |||||
Net loss | $ | (1,844 | ) | $ | (6,823 | ) | ||
Net loss per share: | ||||||||
Continuing operations | $ | (0.82 | ) | $ | (5.35 | ) | ||
Discontinued operations | - | (1.76 | ) | |||||
Net loss per share basic and diluted | $ | (0.82 | ) | $ | (7.11 | ) | ||
Shares used in computing net loss per share: | ||||||||
Basic and diluted | 2,236,590 | 959,828 | ||||||
SPHERE 3D CORP. | ||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
(In thousands) | ||||||||
March 31, | December 31, | |||||||
2019 | 2018 | |||||||
(Unaudited) | (Unaudited) | |||||||
ASSETS | ||||||||
Cash and cash equivalents | $ | 139 | $ | 341 | ||||
Accounts receivable, net | 859 | 1,142 | ||||||
Inventories | 1,247 | 1,230 | ||||||
Other current assets | 596 | 784 | ||||||
Total current assets | 2,841 | 3,497 | ||||||
Investment in affiliate | 2,100 | 2,100 | ||||||
Property and equipment, net | 5 | 6 | ||||||
Intangible assets, net | 3,101 | 3,348 | ||||||
Goodwill | 1,385 | 1,385 | ||||||
Other assets | 1,114 | 950 | ||||||
Total assets | $ | 10,546 | $ | 11,286 | ||||
LIABILITIES AND SHAREHOLDERS' DEFICIT | ||||||||
Current liabilities | $ | 9,594 | $ | 9,639 | ||||
Series A redeemable preferred shares | 6,701 | 6,571 | ||||||
Other long-term liabilities | 1,433 | 683 | ||||||
Total shareholders' deficit | (7,182 | ) | (5,607 | ) | ||||
Total liabilities and shareholders' deficit | $ | 10,546 | $ | 11,286 | ||||
1 Year Sphere 3D Chart |
1 Month Sphere 3D Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions