Nerds On Site Records Approximately $2.24 M Revenue in Q2 2022
Nerds On Site Inc. (CSE:NERD, OTCQB:NOSUF) reported Q2 2022 financial results with total revenue of $2.24 million and a gross profit of $560,207. Despite the revenue achievement, the company posted a net loss of $327,708. CEO Charlie Regan expressed optimism about future revenue-generating opportunities, highlighting a strategic partnership with Staples and plans for US expansion through mergers and acquisitions. The company serves over 12,000 clients annually and is focused on increasing its cybersecurity services.
- Total revenue reached $2,247,810 in Q2 2022.
- Gross profit was $560,207, indicating operational viability.
- Focus on strategic activities may lead to new revenue streams.
- Plans for US expansion and partnership with Staples could enhance market presence.
- Net loss of $327,708 indicates ongoing financial challenges.
TORONTO, ON / ACCESSWIRE / February 1, 2022 / Nerds On Site Inc. (CSE:NERD) (OTCQB:NOSUF) ("NERD" or the "Company"), a mobile IT solutions company servicing Small and Medium-Sized Enterprise (SME) marketplaces in Canada and the USA, is pleased to announce its financial results and operating highlights for the three-month and six-month periods ended November 30, 2021, highlighted by
Q2 2022 Financial Highlights:
- Total revenue of
$2,247,810 - Gross profit of
$560,207 - Net loss and comprehensive loss of
$327,708
Charlie Regan, Co-Founder and CEO of NERD, comments: "We are pleased with our financial stability in the second quarter while we were planning a lot of strategic activities. We look forward to a number of revenue generating opportunities in 2022, including the Staples' partnership "reboot", US expansion through Merger and Acquisition, and increasing adoption of our cybersecurity services."
The Company's complete financial results are available in its Consolidated Financial Statements and Management's Discussion and Analysis for the quarter ended November 30, 2021, each filed with Canadian securities regulators at www.sedar.com.
About Nerds On Site Inc.
Nerds On Site Inc., a company founded in 1995 in London, Ontario, specializes in providing cost-effective, leading-edge solutions to Small and Medium-Sized Enterprises (SME), serving as the complete SME IT solution specialist. NERD currently has annual revenues of approximately
To learn more, please contact:
Charles Regan, CEO
Nerds On Site Inc.
Tel: 1-877-778-2335
Email: IR@nerdsonsite.com
Thomas Do, Investor Relations Manager
CHF Capital Markets
Tel: 416-868-1079 x232
Email: thomas@chfir.com
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Nerds On Site Inc.
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