Vislink Technologies Inc. (VISL) shares surged 4.37% in after-hours on Monday, November 15, 2021, and closed the Monday trading at $1.91. Even in the regular trading session, VISL’s stock gained 2.81%. VISL shares have risen 61.95% over the last 12 months, and they have moved up 7.02% in the past week. Over the past three months, the stock has lost 3.17%, while over the past six months, it has declined 18.30%.
Let’s discuss its recent news and developments.
VISL latest news
On November 15, 2021, Vislink (VISL) reported financial results for the quarter that ended September 30, 2021.
Q3 2021 financial highlights
- VISL reported revenue of $11.2 million for Q3 2021, compared to $4.8 million for Q3 2020. For Q2, 2021 revenue was $7.6 million.
- In Q3 2021, the gross margin was 62.3% compared to 31.8% of revenue in the third quarter of 2020. The gross margin was 52.8% in Q2 2021.
- Total operating expenses were $11.7 million in Q3 2021 compared to $7.6 million in Q3 2020.
- It earned a net income of $676,000, or $0.01 per share in the third quarter of 2021 compared to a net loss of $2.8 million, or $0.17 per share in the third quarter of 2020.
- As of September 30, 2021, Vislink had $38 million in cash.
VISL launched Vislink Connect
On October 18, 2021, Vislink (VISL), launched Vislink Connect™, a premium bonded cellular service designed to enable robust, reliable and economical transmissions for live video production. The service is available to U.S customers for pre-ordering immediately.
Vislink rapidly merged the operations of the recently acquired Mobile Viewpoint. The company focus was the integration of their respective product lines through advanced interoperability testing and other shared engineering initiatives. Vislink Connect is the first jointly-developed product offering brought to market by the combined companies.
VISL participation at CABSAT 2021 event
On October 06, 2021, Vislink (VISL) and Mobile Viewpoint exhibited in person at this year’s CABSAT 2021 event, which took place on October 26-28, 2021, at the Dubai World Trade Centre. The company displayed its products at two locations on the show floor. The products displayed were HCAM, which is the most widely deployed HEVC 4K UHD wireless transmitter. Quantum is an IP-native, high-performance RF receiver that enables production teams to fully implement remote production systems to increase efficiencies and many other products were also showcased during the event.
Conclusion
The recent improved financial results were the reason behind its positive performance on the first day of the week and we can expect it to perform well in the coming trading sessions on Tuesday.
