Kaleyra Inc. (KLR) shares rose 20.52% to $11.98 in pre-market trading at the time of writing. Friday’s closing price of $9.94 for the KLR stock was up by 0.10%. There were 0.47 million shares traded in KLR stock during the two-day period, which was higher than the daily average of 0.3 million shares during the previous 50 days. In the past week, KLR stock has fallen by -1.88%, following a rise of 75.62% in the last 12 months. The KLR stock has lost -19.06% in the past three months, while it has lost -33.24% in the past six months. Additionally, KLR has a current market capitalization of $310.92 million and 30.36 million shares outstanding. Following the release of its quarterly results, KLR stock is rising.
Is KLR’s quarterly performance up or down?
Kaleyra is a global company that offers mobile communication solutions to enterprises and financial institutions. Using its proprietary platform, KLR manages global multichannel integrated communication services, including email, instant messaging, voice and chatbot services. The KLR technology, which today reaches hundreds of MNOs and 190 countries, allows KLR to securely and safely handle billions of messages a month.
In today’s press release, Kaleyra announced the second-quarter results for the period ended June 30, 2021.
KLR Stock Financial Highlights:
- In the second quarter of 2021, KLR brought in $54.0 million in revenue, up 73% from $31.2 million in the same period in 2020.
- mGage contributed $10.2 million in revenue to Kaleyra’s second quarter during its one month as part of Kaleyra.
- According to KLR, its earnings were $10.5 million, up 140% from $4.4 million in the second quarter of 2020, the company’s largest quarterly growth since it went public.
- Second quarter gross margin for KLR was 19% compared to the second-quarter gross margin of 14% in 2020.
- KLR’s adjusted gross profit was $11.1 million, up 147% from $4.5 million during the same period a year ago.
- The adjusted gross margin for the second quarter of 2021 was 21%, compared to 14% in the second quarter of 2020.
- Based on 34.3 million weighted average shares outstanding, KLR reported a $(4.5) million (0.13) per share net loss.
- In the second quarter of 2020, the net loss was $(8.1) million, or $(0.39) per share, based on 20.6 million weighted-average shares.
- Based on 20.6 million weighted average shares outstanding, adjusted net income for KLR was $0.5 million, or $0.01 per share basic and diluted in the second quarter of 2021, compared to adjusted net loss of (1.4) million, or (0.07) per share in same quarter year ago.
- Adjusted EBITDA for KLR for the second quarter of 2021 was $2.2 million, compared to $(0.3) million for the same period in 2020.
Financial results outline:
By enhancing the headcount growth year over year to strengthen the omni-channel platform, and investing in continual global sales expansion, Kaleyra (KLR) continues to strongly invest in human capital and in particular, in research and development talent. KLR reported another strong quarter, with revenue exceeding expectations and gross margins improving significantly.
