Ault Global Holdings, Inc. (DPW) stock announced second-quarter 2021 financial results after which the stock rallied today. DPW stock price saw a surge of 10.29% to reach $3.0 a share at the time of this writing. The stock was falling in the previous trading session and went low by 1.45% at closing.
Second Quarter 2021 Financial Results:
- Ault Global Holding, Inc stock reported $62.1 million in revenue in the second quarter of 2021. This represents a massive increase of 1050% as compared to $5.4 million in the same quarter of last year.
- DPW stock generated $53.3 million revenue from lending and trading activities in the three months ended June 30, 2021. This compares to the negative revenues of $34,000 in the same quarter of last year. This increase is due to the allocation of capital to Digital Power Lending, LLC, a wholly-owned subsidiary of DPW stock.
- Cryptocurrency mining revenue for the DPW stock was $291,000 in the second quarter of 2021. The cryptocurrency mining operations continued during the march with approximately 1000 miners.
- Ault stock reported the largest quarterly profit in its history as its net income reached $42.2 million in Q2,2021. The stock recorded $127.9 million for positive working capital.
- The gross margin of the stock increased to 89.9% in Q2,2021 as compared to 37.1% in Q2,2020.
- Operating expenses jumped from $2.7 million in Q2,2020 to $10.0 million in Q2,2021.
- As of June 30, 2021, DPW stock reported $259.1 million in total assets and $105.4 million in cash. The marketable securities and investments were $30.2 million and $81.5 million respectively by the end of the quarter
DPW stock’s financial performance in the first half of 2021.
- In the first six months of 2021, Ault stock increased revenue of $75.4 million by 585% as compared to $11.0 million in the same tenure of the previous year.
- $58.5 million revenue from lending and trading activities resulted from the allocation of capital to DP Lending.
- The cryptocurrency mining revenue of DPW stock was $421,000 in the first six months of 2021.
- DPW stock recorded $44.2 million in net income as compared to a $7.9 million net loss in the previous year’s same tenure.
Wrap Up:
The second-quarter results of Ault Global stock are exceptional as compared to the same quarter of last year. The stock is progressing in terms of revenue and operations. Tremendous growth has been observed in lending and trading activities. The balance sheet of the DPW stock is strong. In a nutshell, this stock can be a good bet for long-term investors.
