Welcome to our dedicated page for DRAD news (Ticker: DRAD), a resource for investors and traders seeking the latest updates and insights on DRAD stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect DRAD's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of DRAD's position in the market.
Digirad Corporation (Nasdaq: DRAD; DRADP) reported its Q2 2020 and 6M financial results, showing a 13.4% decrease in total revenue to $22.3 million compared to Q2 2019. The net loss from continuing operations was $1.3 million, improved from a loss of $1.5 million a year prior. While 6M 2020 revenue increased to $51.2 million, gross profit declined to $4.0 million, impacted significantly by the COVID-19 pandemic. The company reported a non-GAAP adjusted EBITDA of $1.8 million in Q2 2020. Cash and cash equivalents stood at $9.3 million, while net debt rose to $16.5 million.
Digirad Corporation (Nasdaq: DRAD) is set to announce its second-quarter financial results on August 13, 2020, before market opening. A conference call will follow at 11:00 a.m. ET, providing insights into the company's performance and outlook. Digirad operates in three divisions: Healthcare, Building & Construction, and Real Estate & Investments, primarily focusing on diagnostic medical imaging products and modular housing. The company warns that forward-looking statements may differ due to various operational risks, including debt and market conditions.
Digirad Corporation (Nasdaq: DRAD) announced the signing of Phase 2, worth $4.4 million, of a $5.2 million project with Tocci Building Corporation. This phase involves manufacturing 84 building modules for the U.S. Army Natick Soldier Systems Center, with completion expected by year-end. KBS Builders, a subsidiary of Digirad, has already commenced Phase 1, valued at $0.8 million. The total potential project revenue could reach $6.7 million if Phase 3 is executed. Additionally, KBS is expanding its workforce by over 20% to meet increased production demands.
Digirad Corporation (Nasdaq: DRAD) announced its participation in the Sidoti Inaugural Virtual Microcap Conference on June 30, 2020, with a presentation scheduled for 12:15 PM ET in Virtual Estate Room #1. Investors can view the presentation live online and download a PDF copy from the company's Investor Relations webpage. Digirad operates in three divisions: Healthcare, Building & Construction, and Real Estate & Investments, focusing on diagnostic imaging and modular housing manufacturing.
Digirad Corporation (Nasdaq: DRAD) announced a $2.0 million contract with KBS Builders to manufacture housing units for veterans in Quincy, MA. This project is part of a larger initiative funded by Martin Realty and HUD's Veterans Administration Supportive Housing Program. KBS will produce 58 modules for 32 units, with manufacturing starting in June and completion by August 2020. Additionally, KBS has a projected sales pipeline exceeding $50 million and a recent $5.5 million public equity offering to support working capital.
Digirad Corporation (Nasdaq: DRAD) announced a contract signed by KBS Builders, Inc. to commence the first phase of a construction project worth $5.2 million with Tocci Building Corporation. The project involves producing approximately 98 building modules for the U.S. Army Natick Soldier Systems Center. Phase 1, comprising 14 modules, will begin this month, while Phase 2, with 84 modules, is slated for July 2020. The total potential project revenue could rise to $6.7 million with an additional phase. This project marks KBS's re-entry into the commercial construction market, indicating a significant growth opportunity.
Digirad Corporation (Nasdaq: DRAD) has successfully completed its underwritten public offering of 2,225,000 shares of common stock and 1,112,500 Common Warrants, raising approximately $5.0 million in gross proceeds. Each share was sold at $2.25, with warrants to purchase half a share at the same price. The offering included a 45-day option for underwriters to purchase an additional 225,000 shares or warrants, partially exercised by Maxim Group LLC. The funds will support Digirad's diverse operations in healthcare, construction, and real estate.
Digirad Corporation (Nasdaq: DRAD) announced an underwritten public offering of 2,225,000 shares of common stock, combined with warrants to purchase up to 1,112,500 shares at $2.25 each. The offering, expected to close on May 28, 2020, aims to raise approximately $5 million in gross proceeds. Investors will buy shares along with one common warrant redeemable for 0.5 shares of common stock. Maxim Group LLC is the sole book-running manager, with a potential additional 225,000 shares available within 45 days.
Digirad Corporation (Nasdaq: DRAD) reported a Q1 2020 revenue of $28.9 million, up 20.7% from $23.9 million in Q1 2019. Gross profit increased to $4.4 million, while the net loss widened to $3.0 million from $1.7 million year-over-year. The Healthcare division saw a decline in scanning revenue due to COVID-19, while the newly created Building & Construction division reported $5.5 million in revenue. Non-GAAP adjusted EBITDA decreased to $0.5 million. The company holds $91.6 million in net operating losses (NOL) to protect shareholder value. A conference call is scheduled for May 15, 2020.
