- ARHT Media (ART) has announced financial results for Q2 2021 including new records for revenue and repeat clients
- Revenue hit a record $2.4 million in the first half of 2021, representing a 393 per cent increase year-over-year
- Repeat clients made up a record 85 per cent of Q2 revenue
- The company expects continued growth in the second half of the year
- ARHT Media is a holographic technology provider
- ARHT Media (ART) is down by 2.17 per cent and is currently trading at $0.225 per share
ARHT Media (ART) has announced financial results for Q2 2021 including new records for revenue and repeat clients.
Q2 financial highlights
- Revenue of C$1.21 million, compared to $42,000 in Q2 2020, representing a 2,798 per cent increase year-over-year
- Record revenue of $2.4 million in the first half of 2021, representing a 393 per cent increase year-over-year
- Repeat clients made up a record 85 per cent of Q2 revenue
- Net loss of $1.28 million (before loss on debenture repayment of $298,000), compared to $560,000 in Q2 2020
- Cash and cash equivalents of $4.17 million as of June 30, 2021
Q2 business highlights
- Permanent installation of three HoloPod solutions and the addition of four large new clients
- 14 Virtual Global Stage presentations, 2 HoloPresence presentations and 4 hardware sales transactions
- 17 WeWork HoloPresence installations in 2021 are expected to generate $2 million in revenue by 2022
- Introduced holographic technology in the Middle East through NMK Electronics at the Arab Health 2021 Conference
- Brought HoloPresence Technology to the Jeju Peace Forum for the former President of France, Francois Hollande
Larry O’Reilly, CEO of ARHT Media, commented,
"We expect the second half of 2021 to continue along our growth trend with increasingly more demand for recurring revenue products such as our HoloPod, where we permanently install the technology which generates transmission and maintenance fees on an annual basis."
ARHT Media is a holographic technology provider.
ARHT Media (ART) is down by 2.17 per cent and is currently trading at $0.225 per share as of 9:32 am ET.