GALAXY NEXT GENERATION - GAXY STOCK NEWS

Galaxy Next Generation (OTCQB:GAXY) announced a significant achievement on March 2, 2021, securing a 5-year contract with Allen Independent School District in Texas. This contract will provide the district, which serves 21,634 students across 23 schools, access to a range of Galaxy's G2 products, such as interactive panels and distance learning solutions. CEO Gary LeCroy emphasized the company's commitment to fostering a long-term relationship with the district to enhance educational experiences in safe environments.

Galaxy Next Generation, Inc. (OTCQB:GAXY) has expanded its sales team by hiring Tony Grant as the Western Regional Sales Manager. This move aims to enhance the company's sales capabilities amidst a growing demand for its interactive learning technology solutions. CEO Gary LeCroy highlighted Grant's track record in territory development and revenue growth. Grant plans to focus on expanding the G2 product line through resellers and system integrators while managing the sales pipeline effectively. The K-12 education market remains the primary customer base, constituting 90% of Galaxy's sales.

Galaxy Next Generation, Inc. (OTCQB:GAXY) reported a 32% revenue increase to $2.0 million for the six months ending December 31, 2020. Deferred revenue reached $1.0 million, and gross margin improved to 34%. The company reduced its quarterly operating loss to $0.9 million. Key achievements included the acquisition of Classroom Technology Solutions and significant contracts for Cov-Shield products. Despite challenges with school closures, management anticipates growth due to increased federal funding for K-12 education.

Galaxy Next Generation, Inc. (OTCQB:GAXY) will host its second quarter fiscal year 2021 earnings results conference call on February 16, 2021, at 4:30 PM ET. CEO Gary LeCroy and CFO Magen McGahee will discuss the quarterly results for the three months ended December 31, 2020. Topics include an outlook for the remainder of the fiscal year and shareholder questions. Galaxy specializes in interactive learning technology, primarily targeting the K-12 education market, which constitutes nearly 90% of its sales.

Galaxy Next Generation (OTCQB:GAXY) has announced a new partnership with Mid States Audio and Video, marking its entry into South Dakota. This collaboration aims to expand Galaxy's presence in this new territory, where it previously had no representation. CEO Gary LeCroy expressed enthusiasm over the partnership, noting Mid States' extensive experience in commercial audio and video systems since 1994. Mid States plans to introduce Galaxy's product suite to its network, extending reach to a 250-mile radius around Sioux Falls, covering parts of Iowa, Minnesota, and Nebraska.

Galaxy Next Generation, Inc. (OTCQB:GAXY) has launched the G2 Adjust-A-Mount, a cost-effective height-adjustable wall mount designed for interactive panels and televisions. This product aims to disrupt the market previously dominated by BalanceBox, offering a more affordable alternative. The mount features 15.7 inches of vertical adjustment and supports displays from 30" to 90". Galaxy targets sectors such as education, healthcare, and business environments for G2 Adjust-A-Mount adoption.

Galaxy Next Generation (OTCQB:GAXY) announced a partnership with Stand4Kind to enhance school environments by reducing negativity and bullying. This collaboration will integrate Stand4Kind's programs into Galaxy's interactive panels, set to launch in January 2021, creating new revenue streams. The initiative focuses on mental health, suicide awareness, and providing tools for positive school culture. Galaxy's CEO emphasized that activating the app will drive additional revenue through its educational platforms.

Galaxy Next Generation, Inc. (OTCQB:GAXY) announced significant progress in converting deferred revenue and backlog into actual revenue, having shipped $0.5 million from an OEM customer order. They received a new purchase order worth $170,000 from a Texas school district. Financially, Galaxy has reduced its convertible debt to $1.35 million, enhancing its balance sheet strength. CFO Magen McGahee has also engaged in open market stock purchases.

Galaxy Next Generation (OTCQB:GAXY) reported strong Q1 results for FY 2021 with revenues of $2.8 million, a notable 89% increase year-over-year. The company also reported deferred revenue of $1.6 million and a backlog of $2.0 million. Gross profit rose to $0.3 million, reflecting a 29% margin. However, total net loss for the quarter was $13.1 million, up 219% from the previous year. Galaxy aims to uplist to a major U.S. exchange within 12 months, highlighting an optimistic outlook amidst growth and expansion initiatives in the K-12 education market.