Ecoark Q1 Revenue Registers Three Fold Growth

Ecoark Q1 Revenue Registers Three Fold Growth
  • Ecoark Holdings Inc ZEST reported first-quarter FY22 sales growth of 200% year-on-year, to $6.90 million.
  • The gross profit rose 141.6% Y/Y to $2.9 million with a profit margin of 42%.
  • The company held $0.84 million in cash and equivalents as of June 30, 2021.
  • EPS was $0.097, versus $($1.154) last year.
  • "We continue to grow and expand our operations, as evidenced by a 25% sequential increase in our revenue for the first quarter of fiscal 2022," said CEO Randy May.
  • Outlook: Ecoark raised FY22 Trend Discovery revenue outlook to $4.1 million from the prior view of $2.6 million.
  • Ecoark is not guiding its consolidated results of operations or EPS for FY22 due to the inability to forecast the charges resulting from volatility related to fair value adjustments in warrant derivative liabilities.
  • Price Action: ZEST shares are trading lower by 1.77% at $4.44 on the last check Monday.

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