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Surna Inc. (OTCQB: SRNA) has partnered with One Tree Planted to launch the 'Twenty for One' initiative. For every commercial project contract signed, Surna will donate funds to plant 20 trees, contributing to the goal of planting 27 million trees globally in 2021. This initiative emphasizes sustainability and supports global reforestation efforts. The partnership aims to raise awareness about ecosystem restoration and create a positive environmental impact. Surna's commitment to sustainability aligns with its core business model, enhancing its corporate responsibility.
Surna Inc. (OTCQB: SRNA), known for its leadership in controlled environment agriculture (CEA), announced the expansion of its product offerings to include benching and racking equipment. This addition aims to cater to various sizes of growers, from craft to large commercial operations. The new products include single-tier benches, rolling benches, and multi-tier vertical farming racks, tailored to improve efficiency and sustainability in agricultural practices. With over 15 years in the industry, Surna has supported over 800 cultivators and continues to enhance crop quality and yield.
Surna Inc. (OTCQB: SRNA) has announced an expansion of its HVACD product portfolio, adding variable refrigerant flow (VRF) technologies to meet evolving state code requirements. This strategic enhancement aims to provide versatile, energy-efficient solutions suitable for diverse cultivation facility sizes and budgets. Surna's VRF systems promise reduced energy consumption by supplying precise cooling based on real-time conditions and allow for heat capture for other applications. They continue to cater to the unique needs of their clients, reinforcing their leadership in controlled environment agriculture.
Surna Inc. (OTCQB: SRNA) reported strong financial results for Q2 2021, with net revenue increasing by 168% year-over-year to $4.5 million. Total gross profit rose by 367% to $1.3 million, while adjusted net income surged 174% to $0.4 million. For the first half of 2021, revenue reached $6.9 million, a 97% increase compared to last year. Despite these gains, Surna faced production delays due to COVID-19, impacting net bookings, which were approximately $1 million in Q2. The company will host an investor call on August 17, 2021, to discuss these results.
Surna Inc. (OTCQB: SRNA) has expanded its service offerings to include licensed architectural design and floor plan layout services. This strategic move aims to enhance customer support during the construction process by ensuring efficient coordination of designs with engineering teams. The architectural services will allow Surna to provide tailored solutions that meet the unique requirements of cultivation facilities, promoting successful project execution and long-term operational success. This development aligns with Surna's extensive experience, having worked on over 200 commercial cultivation facilities worldwide.
Surna Inc. (OTCQB: SRNA) reported its second quarter 2021 financial results, showcasing strong performance with revenue of approximately $4.5 million, marking a 168% increase year-over-year and a 91% rise from the previous quarter. Adjusted net income stood at $353,000, a 174% year-over-year growth. The growth was driven by a robust backlog and successful product launches. The company celebrates its 15th anniversary this August, highlighting ongoing expansion in the controlled environment agriculture market.
Surna Inc. (OTCQB: SRNA) expanded its air handler product family with the launch of EnviroPro™. This new line includes versatile systems aimed at meeting the climate control needs of its growing customer base in controlled environment agriculture. Key offerings include the EnviroPro Packaged DX Air Handler, an economical cooling and dehumidification solution, and customizable units that enhance energy efficiency. These innovations reflect Surna's commitment to providing tailored solutions for cannabis cultivation and improving overall crop quality.
Surna Inc. (OTCQB: SRNA) appointed R. Brian Knaley as Chief Financial Officer and Treasurer, effective June 28, 2021. With over 25 years of financial leadership experience, Knaley previously served as CFO for various public companies, most recently at Proximo Medical. His expertise is expected to enhance Surna's financial strategies and support its aggressive growth initiatives. CEO Tony McDonald highlighted the importance of Knaley's experience in improving operational infrastructure and internal processes to align with the company's expected growth trajectory.
On June 23, 2021, Surna Cultivation Technologies issued a press release announcing R. Brian Knaley as its new CFO. However, this announcement was later retracted. Stakeholders should note that the original release is to be disregarded, indicating potential miscommunication or error in corporate announcements.
Surna Inc. (OTCQB: SRNA) has appointed R. Brian Knaley as Chief Financial Officer and Treasurer, effective June 28, 2021. Knaley, with over 25 years of financial leadership as a two-time public company CFO, aims to enhance Surna's capital markets and finance strategy amid aggressive growth plans. CEO Tony McDonald expressed confidence in Knaley's capacity to improve financial reporting, operations, and internal controls. Surna specializes in controlled environment agriculture technologies to optimize crop quality and energy efficiency.
