Shares of the BSQUARE Corporation (BSQR) stock were climbing in the pre-market trading session today on August 2, 2021. BSQR stock price saw a push of 14.92% to reach $3.62 a share at the time of this writing. It seems that the stock is continuing the rising momentum as it went high by 0.32% at the previous closing. Let’s understand the current position of this stock in detail.
What’s Happening?
For anxious individuals, there seems to be no BSQR stock-specific news today to justify the rally. However, some investors in the social media community platforms are considering the low float of BSQR stock as an opportunity for generating good profit on the day trading. BSQUARE Corporation is the software solution and engineering services platform situated in the United States of America. The stock is mainly working in two areas, Partner Solutions, and Edge to Cloud.
BSQR stock’s recent announcement:
BSQUARE stock on July 30, 2021, announced the release date of its second-quarter 2021 financial results. The conference call will be on Thursday, August 12, 2021, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time).
The expected revenue for the second quarter ended on June 30, 2021, is between $10.6 million to $10.8 million. This includes revenue of $9.9 million to $10.0 million from the Partner solutions segment and $0.7 million to $0.8 million revenue from the edge cloud segment. Moreover BSQR stock is expecting an operating loss for the second quarter.
Offering Program of BSQR stock:
BSQR stock on July 6, 2021, entered into the Side letter with B. Riley Securities, Inc to sell up to an aggregate of $50 million worth of shares. This letter is connected to the previous agreement of selling $25 million worth of BSQR shares to B. Riley Securities. Both companies signed an agreement on April 2, 2021.
First Quarter Financial Results:
In the first quarter of 2021 financial results, BSQR stock suffered a 10% decrease in its revenue. The net loss increased to $0.9 million from 0.7 million year-over-year. The EBITDA of the stock reduced by $0.7 million in comparison to the same quarter of the previous year.
The COVID-19 pandemic is the main reason that caused a decrease in the Partner solution’s revenue. However, Cloud edge revenue increased due to an increase in online and remote work. Furthermore, BSQR stock reduced its operating costs by making its operations more efficient.
Wrap Up:
BSQUARE stock is going well in the stock market so far. The stock has gained 118.75% year to date. The upcoming second-quarter results will clarify the position of the stock.
