ToughBuilt Industries, Inc. (TBLT) is engaged in designing, manufacturing, and marketing novel products globally. The company’s product pipeline is currently focusing on tools for DIY construction businesses. The company also markets construction and home up-gradation products for professional markets.
The price of TBLT stock during the regular trading on February 18, 2022, was $0.16 with an increase of 5.48%. At last check in the aftermarket, the stock dipped by 7.40%.
TBLT: Events and Happenings
On February 15, 2022, TBLT reported about the closure of its registered direct offering for the sale of up to 2,500 Series F and Series G Convertible Preferred Stock shares. The company expects net proceeds of approximately $5 million by the sales. The Series F shares had a value of $1,000 per share and are convertible into 12,500,000 common stock shares for $0.20 per share. The Series G shares had a value of $1,000 per share and are convertible into 12,500,000 common stock shares for $0.20 per share.
On January 10, 2022, TBLT updated that its net sales via Amazon inclined by 68.5% to up to $11.9 million during FY2021 against $7.1 million in FY2020. On December 23, 2021, TBLT announced the launch of the ToughBuilt Workbench, which is available globally. On December 06, 2021, TBLT reported its management’s participation at the Virtual Sidoti MicroCap Conference on December 9, 2021. On November 30, 2021, TBLT updated about launching ToughBuilt lasers and levels, which are available for purchase globally.
TBLT: Key Financials
On November 15, 2021, TBLT released its financial results for the third quarter ended September 30, 2021. Some of the key points are discussed below.
Revenue
Revenue in Q3 2021 was recorded to be $17.2 million compared to $16.7 million in the same period of 2020. The company observed an increase of 3.3% in revenue over the yearly period. The company topped the estimated revenue target by $2.10 million.
EPS
Basic and diluted net loss per share attributable to common shareholders in Q3 2021 was $11.4 million or $0.09 as compared to net income of $0.12 million or nil in the same period of 2020. The company missed the analysts’ estimates by -$0.04.
Conclusion
TBLT stock is 86% down the past year as the pandemic declined the economic conditions globally. The recent aftermarket stock decline is the result of uncertain factors as the company didn’t report any recent SEC filing or event to its calendar. The earnings release date is approaching and the company is expecting revenue in the range of $24.6 million with an EPS of -$0.02.
