The healthcare industry’s recent debutant, AeroClean Technologies Inc. (AERC) had been on a crazy wild ride. The caution-rising Reg A+ IPO puzzled everyone with a mammoth upsurge to $117.35 soon after its IPO at a price level of just $10.
A small company of mere five employees at the time that opted for IPO with reduced documentation instead of giving rise to doubts rallied hugely. Seemingly, a company with an air purifier that could knock out Covid-19 did look like a nice bet at times when the world was under the grasp of the virus. But unfortunately, the excitement was soon overcome by the grappling reality of where the company stood. Hence, the stock underwent a tumulus downfall to trade its near-low of $4 price level. After the huge blowdown, AERC has been on a slow but continued recovery mode lately, gaining 15.95% last month and 34.71% in the past five days.
On March 31, the company declared its earnings report for the quarter, and the year ended on December 31, 2021. Impressing the investors, AERC saw an uptick in regular trading to rally by over 27.22%. But alas, the upsurge was inevitably followed by a downfall in the pre-market as the stock succumbed to corrections. Thus, the stock subtracted 5.02% in the pre-market as it slid down to a value of $4.35 after closing the prior session at $4.5800.
2021 Ending Quarter Results
Showing an improvement of 35.9% sequentially, the company generated revenues of $355,212 in the fourth quarter of 2021.
Thus, the gross profit improved by 270 basis points in the quarter, to report $164,049 while the gross profit margin was 46.2%.
Including the one-time exclusive costs of its IPO, AERC suffered a net loss of $1,741,383 in the quarter. The comparative figure for the prior quarter places the net loss at $1,528,012. Thus, if the one-time cost were to be excluded, the company did exceptionally well in Q4 2021 thanks to its IPO.
How is AERC doing in 2022?
So far the company has been doing well in 2022 with the stock recovering some of its losses to the installation of its air sanitizations solutions. Recently, the company successfully installed its PūrgoTM air purification and sanitization devices at the City of Palm Beach Gardens offices and facilities. This round of installations follows the system’s deployment in New York’s Hospital for Special Surgery.