Dalrada Reports 3,181% Increase In Quarterly Financial Results

Rhea-AI Summary

Dalrada Financial Corp. (OTCQB: DFCO) reported a remarkable 3,181% increase in revenues, totaling $1,055,517 for the three months ending September 30, 2020. This marks the company's best quarter since its strategic shift in 2018 towards science, engineering, and technology. The gross profit was 57%, although slightly down from the previous quarter. Despite the strong revenue growth, the company experienced a net income loss due to expansion efforts and rising operational costs. Management remains optimistic, citing significant demand and expansion opportunities.

Positive

• Revenue increased by 3,181% YoY to $1,055,517.
• Quarter-over-quarter revenue rose by 28%.
• Gross profit maintained at 57%.
• Successful acquisitions enhancing market position.
• Approval of Form S1 for uplisting to OTCQB.
• Expansion of sales activities with Fortune 500 companies.

Negative

• Net income loss attributed to expansion costs.
• Slight decrease in gross profit compared to the previous quarter.

SAN DIEGO, Feb. 16, 2021 /PRNewswire/ -- Dalrada Financial Corp. (OTCQB: DFCO, "Dalrada") reported its financial results for three months ended September 30, 2020. With revenues of $1,055,517, this represents a 3,181% increase compared to the same period in 2019 ($32,166). This is the Company's best performing quarter since Dalrada initiated its new direction with a focus on science, engineering, and technology in 2018.

Quarter-over-quarter revenue increased by 28% compared to the prior quarter three months ended September 30th, 2020.

Quarter-over-quarter revenue increased by 28% compared to the prior quarter three months ended September 30th, 2020. Dalrada's business continues to thrive in response to providing alternative products and services with significant value benefitting people, businesses, and the environment during these difficult times.

Gross profit for the quarter was 57%. A slight decrease from the prior quarter, Likido^® units required ramp up in engineering development to accelerate the completion of products, and general increases in raw materials and shipping fees due to current economic conditions.

The net income loss is attributed to Dalrada's expansion efforts to meet sales demands. The company will continue to build on its operations, sales capabilities, and staff to ramp up the availability of its flagship products, services, and to ensure on-time value-added quality deliverables with exceptional customer service.

Dalrada has made major strides to advance its global position in science, engineering, and technology innovation since the start of 2020. Accomplishments include:

• Acquisitions - Prakat Solutions, Inc., Likido Limited, Shark Technologies, Pacific Stem Cells, LLC, and International Healthcare Group (IHG)
• Consistent quarter-to-quarter revenue increase
• Approval of Dalrada's Form S1 and uplist to OTCQB
• International and domestic manufacturing and sales expansion
• Patents filed on proprietary technology in green energy and healthcare
• Increased portfolio products and services including an expanded alcohol-free non-toxic sanitizing suite of solutions from GlanHealth™, LikidoVOLT generator, Pacific Stem Cells, LLC non-invasive drug-free therapies, and IHG healthcare professional certification and staffing services
• Expansion of sales pipeline and activity with Fortune 500 organizations across multiple business offerings

Brian Bonar, CEO of Dalrada, states, "We are incredibly pleased with our performance for this quarter. Dalrada's dedication to provide innovative solutions is resulting in immediate customer demands, and has propelled the Company's growth and identified additional expansion opportunities. We look forward to sharing additional industry advances in the near future."

For additional information on Dalrada and its subsidiaries, visit https://dalrada.com 

About Dalrada (DFCO)
Dalrada Financial Corp. (OTC Pink: DFCO)  solves real-world problems by producing innovation-focused and technologically-centered solutions on a global level. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The Company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, visit www.dalrada.com or call 1-858-283-1253.

About Dalrada Health
A subsidiary of Dalrada Financial Corp., Dalrada Health is focused on solving health problems around the world. The company develops products and services that address the unmet needs of consumers due to accessibility, affordability, or availability. With operations in the U.S., Malaysia, and India, Dalrada Health can reach underserved markets through strong partnerships and the development of efficient supply chains. Dalrada Health is committed to solving universal health problems through improved methodologies resulting in products and services that benefit the global marketplace.  For details, visit www.dalradahealth.com  For information on GlanHealth™ visit www.glanhealth.com 

About Dalrada Precision
A subsidiary of Dalrada Financial Corp., Dalrada Precision has been focused on solution-based engineering and the customer experience from day one. By continually delivering on its promises, the Company has created trust while building mutually successful long-term relationships.

Dalrada Precision is a team of highly trained and committed individuals. The company takes pride in solving the unique challenges of its customers and constantly improves and enhances its machining and manufacturing capabilities, ultimately becoming a key strategic partner of many businesses. For more information, please visit www.dalradaprecision.com.

About Prakat Solutions
Prakat Solutions Inc. is a technology solutions company specializing in test engineering, accessibility engineering, product engineering, and application modernization. The company partners with clients to create transparent, value-based relationships by leveraging the extensive experience of its team and by providing innovative solutions in a wide range of technology domains that ultimately enable customers to successfully attain their business goals. The Prakat work culture is based on the belief that, "We believe in what we do; we do what we love." Prakat is an ISO 9001-certified company with several Fortune 1000 customers. With its main engineering center in Bangalore, India, the Company also has offices in Dallas, Texas, Denver, Colorado, and San Diego, California. The Prakat team provides end-to-end product engineering services across various domains including banking and financial services, telecom, retail, healthcare, manufacturing, legal, and IT infrastructure. For more information, please visit www.prakat.com. 

Disclaimer

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K. 

 

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SOURCE Dalrada Financial Corp.

FAQ

What were Dalrada's financial results for the quarter ending September 30, 2020?

Dalrada reported revenues of $1,055,517, a 3,181% increase compared to the same period in 2019.

What is the significance of the recent revenue increase for DFCO?

The 3,181% revenue increase marks Dalrada's best performance since its strategic shift in 2018.

Did Dalrada experience any losses despite the revenue growth?

Yes, the company reported a net income loss due to expansion efforts and rising operational costs.

How much did Dalrada increase its revenue quarter-over-quarter?

Dalrada's revenue increased by 28% compared to the previous quarter.

What initiatives has Dalrada undertaken for growth?

Dalrada focused on acquisitions, filing patents, and expanding its sales pipeline with major clients.