Veru Inc. (VERU) stock reported a record net revenue increase for the fiscal 2021 3rd quarter after which the stock had become bullish in Pre-market. VERU’s price saw a push of 11.06% to reach $7.73 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 1.97% at closing.
Fiscal 2021 3rd Quarter Financial Results:
- VERU stock generated $17.7 million in the reported quarter, 71% higher than the same period of the prior year.
- Net revenues of FC2 prescription jumped from $5.4 million in fiscal 2020 3rd quarter to $13.5 million in the reported quarter. This represents a 150% improvement over the year.
- VERU stock reported a gross profit of $13.9 million as compared to $6.5 million in the same period of the previous year. The gross profit increased 113% over the year.
- Operating loss increased to $2.9 million as compared to $1.4 million in the same period of last year.
- VERU stock suffered a net loss of $2.7 million, or $0.03 per share in the 3rd quarter of fiscal 2021. This compares to the net loss of $3.0 million, or $0.05 per share in the same period of the previous year.
VERU Stock Year to date Financial Results:
- Net revenue surged to $45.6 million representing a 48% increase as compared to the same prior-year period.
- Net revenues of FC2 prescription reached $32.9 million for the VERU stock, 79% up than fiscal 2020.
- The gross profit of the VERU stock reached $35.6 million representing a 68% increase over the year.
- The gross margin of the stock was 78% of net revenue.
- The stock reported an operating income of $14.8 million and a $3.6 million adjusted operating loss.
- The net income of the stock reached $11.7 million and the diluted EPS was $0.14. VERU stock suffered adjusted net loss and adjusted loss per share of $6.7 million and $0.11 per share respectively.
Balance Sheet of VERU stock:
VERU stock had cash and cash equivalents of $123.2 million by the end of June 2021. As of September 30, 2021, the stock had $13.6 million in cash and cash equivalents.
Veru Inc reported $8.3 million in net account receivables by the end of the reported quarter while this amount was $5.2 million by the end of September 2020.
Conclusion:
VERU stock has posted another record revenue and gross profit for the fiscal 2021 third quarter. Now Veru Inc has enough revenue to support its pharmaceutical programs. The stock is not only progressing in terms of revenue but also advancing its clinical trials. In a nutshell, investors having long-term prospects should keep an eye on this stock.
