As investors are willing to push the stock price up and down on simple business news or no news at all Sigma Labs Inc (SGLB)stock has undergone crazy share-price fluctuations this year. The shares of this stock surged dramatically up by 31.71% to 3.78.
For the third quarter of 2020, revenues totaled $0.25 million, compared to $0.17 million for the third quarter of 2019. The increase in revenue was due to increased sales of PrintRite3D units, including the first sale of the PrintRite3D Lite.
In the third quarter of 2020, gross profit was $0.15 million compared to a loss of $8 thousand in the third quarter of 2019.
The third quarter of 2020 total operating expenses were $1.4 million whereas the same period in 2019 totaled $1.6 million.
In the third quarter of 2019, the company used $1.8 million in cash in operating activities and for the three months ended September 30, 2020 it used $1.2 million, a decrease of $0.6 million.
Compared to the first nine months of 2019, it used approximately $3.7 million of cash in operating activities.
The decrease in cash year-over-year in 2020 versus 2019 was driven by a $967,161 decrease in net loss.
In cash at September 30, 2020, the Sigma Labs Inc (SGLB)had $4.5 million, compared to $2.5 million at June 30, 2020 and $1.1 million at September 30, 2019. The increase in cash during the period resulted from warrants exercised under our January 2020 private placement of convertible preferred stock and warrants.