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Nanalysis Scientific Corp. ("the Company", TSXV: NSCI OTCQX: NSCIF FRA: 1N1 ), a leader in portable MRI and NMR machines for healthcare and industrial applications, announced quarterly preliminary revenue of $4.4 million in Q2 of 2021, a 120% increase over Q2 2020.
While the company is not reporting full financials until the middle of August, CFO, Luke Caplette states: "We wanted to release our top line numbers to highlight our exciting growth and strengthening company fundamentals. We are continuing to see strong results from our efforts in 2020. The team did a remarkable job on all levels to achieve this level of growth. We demonstrated positive EBITDA in Q1 2021, and our cost structure has remained relatively unchanged. As a result, we expect solid profitability on an EBITDA basis when we release our full Q2 financials".
CEO, Sean Krakiwsky states "We showed over 115% revenue growth in Q1, and again now with 120% growth in Q2 as compared to the same quarter in the prior year. These results show that we remain on this growth trajectory."
"The benefits of our first acquisition are clearly showing on the top line and also as a technology tuck-in with the integration of the new electronics platform into our 100 MHz product. Fueled by increasing production of our 100 MHz product, continued growth in 60 MHz sales, as well as sales related to our MRI and NMR electronics modules, we are very optimistic about 2021 and beyond."
Mr. Krakiwsky continued: "We will continue to combine strong organic growth with new, complementary acquisitions in magnetic resonance that are accretive and of medium and long-term strategic importance."
The financial disclosure in this release is unaudited and could be subject to revision when the company releases its financial statements for the quarter.
About Nanalysis Scientific Corp. ( TSXV: NSCI , OTCQX: NSCIF, FRA:1N1)
Nanalysis is listed on the TSX Venture Exchange (TSXV) in Canada with ticker symbol ' NSCI ' ,Over the Counter (OTC) in the United States under the ticker symbol ' NSCIF ', and on the Frankfurt Exchange (FRA) under the symbol ' 1N1 '.
Nanalysis is an international business focused on capitalizing its proprietary technologies in nuclear magnetic resonance (NMR) that go into NMR spectrometers and magnetic resonance imaging (MRI). Nanalysis operates out of two subsidiaries, Nanalysis Corp. and RS2D S.A.S. (RS2D).
Nanalysis Corp. is an industry leader in developing and manufacturing compact NMR spectrometers for laboratory and industrial markets. Its advanced 60 and 100 MHz spectrometers require no liquid helium or other cryogens. These devices are used by chemical professionals spanning a wide variety of industries, including oil and gas, chemical, mining, pharmaceutical, and biotechnology.
Through its European subsidiary RS2D, the Company's electronic boards and software are used in conventional NMR and MRI equipment and are being incorporated into next-gen MRI systems as well as miniaturized MRI devices.
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Notice regarding Forward Looking Statements and Legal Disclaimer
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Nanalysis Scientific Corp.
View original content: https://www.newswire.ca/en/releases/archive/July2021/13/c8091.html
