Theralase Reports Q2 Financial Results

Theralase Technologies (TSXV:TLT; OTCQX:TLTFF) released their financial report for the second quarter of 2017.
As quoted in the press release:

In Canada, revenue increased 55% to $769,840 from $497,378. In the US, revenue decreased 33% to $211,453 from $316,756 and international revenue decreased 55% to $35,441 from $79,004. The increase in Canadian revenue in 2017 and the corresponding decrease in US and international revenue is attributable to the Company systematically building its sales and marketing teams in the Canadian market, the learning curves associated with training and developing a new sales force in the US and the ramp-up strategy of successfully commercializing the TLC-2000 therapeutic laser system to a recurring revenue model.
Cost of sales for the six-month period ended June 30, 2017 was $394,068 (39% of revenue) resulting in a gross margin of $622,666 or 61% of revenue, compared to a cost of sales of $302,879 (34% of revenue) in 2016, resulting in a gross margin of $590,259 or 66% of revenue. Cost of sales is represented by the following costs: raw materials, subcontracting, direct and indirect labour and the applicable share of manufacturing overhead.

Click here to read the full press release.

Source: www.accesswire.com