VASO CORPORATION - VASO STOCK NEWS

Vaso Corporation reported a 6% year-over-year revenue increase for Q3 2021, reaching $18.4 million. The operating loss was reduced by 29% to approximately $0.6 million. Adjusted EBITDA stood at $1.4 million, a decline from $1.8 million in Q3 2020. Despite a rise in SG&A expenses by 12% to $9.5 million, net income fell to $0.7 million from $1.0 million in the same period last year. The company maintains a strong cash position with $5.4 million in operating cash flow in 2021.

Vaso Corporation (OTCMKTS:VASO) announced the extension of its sales representation agreement with GE Healthcare through December 31, 2026. This agreement, originally signed in 2010, allows VasoHealthcare to exclusively represent select GE Healthcare diagnostic imaging products across the contiguous United States. Vaso's president praised the partnership, highlighting the success built over 11 years due to GE's quality products and services. The extension emphasizes Vaso's commitment to its collaborative goals in the healthcare sector.

Vaso Corporation reported a net income of $2.8 million for Q2 2021, primarily due to the forgiveness of a $3.6 million PPP loan. Revenue for the quarter totaled $16.1 million, slightly down from $16.3 million in Q2 2020. The company experienced an operating loss of $0.7 million, compared to $0.6 million in the prior year. For the first half, revenue was $32.7 million, down from $33.5 million year-over-year. Operating cash flow improved by 39% to $5.6 million.

Vaso Corporation (OTC PINK:VASO) announced that its $3.6 million Paycheck Protection Program (PPP) loan, received in April 2020, has been fully forgiven by the Small Business Administration (SBA). This forgiveness will be recognized as other income in the quarterly financial report for the period ending June 30, 2021. Vaso operates through three subsidiaries focused on managed IT services, diagnostic imaging sales, and proprietary medical device manufacturing. The company continues to navigate business uncertainties, including the ongoing impact of the COVID-19 pandemic.

Vaso Corporation (OTCMKTS:VASO) reported its Q1 2021 operating results, revealing total revenue of $16.5 million, a 4% year-over-year decrease. However, the company significantly reduced its operating loss from $1.4 million to $539 thousand, attributed to enhanced operational efficiency. All business segments reported improvements, with IT and equipment achieving profitability. Positive cash flow of $5.5 million was generated, indicating a strong cash position post-debt paydown. Vaso anticipates a recovery in top-line performance as the economy reopens.

Vaso Corporation (OTC PINK: VASO) reported improved profitability for 2020, achieving net income of $358,000 compared to a net loss of $382,000 in 2019, despite a revenue decline of 7.5% to $69.9 million. Cost reductions were pivotal, with SG&A expenses down by $4 million (9.7%). In Q4 2020, revenue rose to $18.7 million but was down 21.2% year-over-year. Cash from operating activities was $5.9 million, and net cash increased to $6.8 million. The company anticipates further operational improvements as economic conditions stabilize.

Vaso Corporation (OTC PINK: VASO) announced a delay in filing its annual report on Form 10-K for the year ending December 31, 2020. The company is addressing certain accounting issues and expects to complete the filing by April 30, 2021. Vaso operates in medical technology with three subsidiaries: VasoTechnology, which offers IT services; VasoDiagnostics, focused on sales for GE Healthcare products; and VasoMedical, which design and manage proprietary medical devices. Investors are advised to stay tuned for updates regarding financial results.

Vaso Corporation (OTC PINK: VASO) reported a 104% increase in net profit for the third quarter of 2020, totaling $1.1 million. This surge comes despite a 6% decline in revenue to $17.5 million, attributed to the COVID-19 pandemic. Operating income rose 56% to $1.3 million, mainly due to a 14% reduction in SG&A costs. Year-to-date cash from operations improved to $4.7 million, and deferred revenue stood at $16.7 million, indicating future revenue potential. The company maintains a healthy cash position of $6.9 million.

Vaso Corporation (VASO) reported a 7% decrease in revenue year-over-year, totaling $16.3 million for the second quarter of 2020. Despite this decline, the net loss narrowed to $0.6 million, a 20% improvement compared to the previous year. Operating expenses dropped by 10%, contributing to a slight increase in operating loss. The company's cash position improved significantly, with $4 million in net cash from operations versus a loss of $2.4 million in the same period last year. Management remains cautious as the pandemic continues to impact operations.