Sharps Compliance Corp. (SMED) is an innovative provider of services for the healthcare sector, hazardous waste management, and retail pharmacy industry. The company’s TakeAway recovery portfolio treats hospital waste, MedSafe for the safe disposal of expired medications while ComplianceTRAC is a digital training platform.
The price of SMED stock during the regular trading on January 20, 2022, with a 1.41% decline was $6.30. At last check in the premarket on January 21, 2022, the stock significantly rises by 19.05%.
SMED: Events and Happenings
On January 12, 2022, SMED reported about releasing its second-quarter 2022 financial outcomes. The financial statement for the quarter ended December 31, 2021, will be announced on January 26, 2022. Afterward, the management of the company will analyze the financial outcomes, lead market initiatives, and business policies. On November 22, 2021, SMED reported about appointing Gary R. Enzor to the company’s Board of Directors. He has wide-ranging experience in Fortune 50 companies including transportation, chemical, and automotive industries.
SMED: Key Financials
On October 27, 2021, SMED announced its financial results for the first quarter of fiscal 2022, which ended September 30, 2021. Some of the key updates are as follows.
Revenue
Revenue in the first quarter of 2022 was reported to be $13.9 million as compared to $13.2 million in the same prior-year quarter. The revenue grew by 6% over the year.
Net Loss per Share
SMED reported a basic and diluted net loss of $0.8 million, or $0.04 per share in Q1 2022compared to $0.3 million, or $0.02 per share in the same period of 2021.
Assets
Total current assets recorded by the company in Q1 2022 were $60 million.
On October 25, 2021, SMED reported about the purchase of route-based medical waste provider solutions ‘Affordable Medical Waste’. The acquisition price was approximately $2.2 million.
Conclusion
SMED stock decelerated 35% from the past few months due to the ongoing pandemic crisis engulfing the economic stability. The current premarket incline in the company’s stock is dependent upon uncertainty in the market as hinted by the analysts. The financial experts are of the view that the company should increase the volume of its pipeline projects to attract potential investors.
