The pandemic has been devastating to lives around the world, businesses, and the financial well-being of millions of people. Economies, such as the U.S. just saw GDP contract at a record 32.9% in the second quarter of 2020. The World Bank just forecast a 2020 global GDP contraction of 5.2%. The International Monetary Fund is forecasting a 4.9% contraction. However, even with slowing growth, some companies have still managed to thrive. In fact, some of the top ones include CleanSpark, Inc. (NASDAQ:CLSK), Moderna Inc. (NASDAQ:MRNA), Inovio Pharmaceuticals Inc. (NASDAQ:INO), BioNTech SE (NASDAQ:BNTX), and Novavax Inc. (NASDAQ:NVAX).
CleanSpark, Inc. (NASDAQ:CLSK) BREAKING NEWS: CleanSpark, Inc., a diversified software and services company, is pleased to update its shareholders and comment on the Company’s financial results presented in its most recent Form 10-Q. The Company recommends that readers also review the Company’s 10-Q in its entirety, a free copy of which is available to all interested parties on the Company’s website or on www.sec.gov.
Dear Fellow Shareholders, As the planet begins to emerge from the catastrophic effects of the global pandemic, we consider ourselves blessed to have had the ability to continue the operations of our business largely unscathed. The massive disruption of our daily lives and the tragic health issues and loss of life around the world are clearly unprecedented. According to recent reports, the US economy contracted a record 32.9% during the second quarter of 2020. In spite of all of this uncertainty, CleanSpark continues to execute on its strategy and is pleased to report our eighth consecutive record-breaking quarter, significantly increasing year over year revenues. We remain optimistic that the Company will continue to see record-setting growth across our software and services segments.
Our sales in fiscal 2020 are again led by our custom electric switchgear hardware with more than $6.4 Million in products delivered during the nine months ending June 30, 2020. We continue to see a sizable percentage of repeat customers in this segment and we anticipate this trend will continue. As a result of our strong growth we have increased our targeted revenue from $7.0 to $7.5 million in delivered custom switchgear sales prior to the end of our 2020 fiscal year.
The Company’s increased focus on its mPulse software and controls platform, and mVSO, (microgrid Value Stream Optimizer) has continued to pay dividends with more than $1.0 million in related sales and nearly $1.0 million in additional contracted backlog coupled with a current proposal pipeline of approximately $10.0 million. During the nine months ended June 30, 2020, we delivered in excess of $1.0 million in software, energy storage and associated hardware. As a result of our strong growth we have increased our targeted revenue from $1.0 million to $1.3 million in delivered revenue related to this category prior to the end of our 2020 fiscal year.
The acquisition of p2klabs has enabled CleanSpark to accelerate the development and deployment of new features to its software platforms and expanded the overall sales and marketing capabilities. p2klabs generates high-margin service revenue and has contributed nearly $600,000 in revenues between February 1, 2020 and June 30, 2020. Since closing the acquisition, we have increased our investment in marketing and staff for the p2klabs business and expect the quarterly revenue contribution to increase significantly over the coming quarters. We continue to target $2.0 million in p2klabs revenue prior to the first anniversary of the acquisition, January 31, 2021.
We are sincerely grateful for the continued support from our shareholders. The most recent count exceeds 17,000 investors, including more than 10,000 shareholders on the Robinhood trading platform alone. We believe this significant increase indicates that the incoming generation of investors understand the magnitude CleanSpark’s disruptive approach brings to the rapidly evolving global energy markets. We continue to put our efforts towards, increasing shareholder value, achieving profitability, and improving our margin profile through increased software and service revenues.
Again, we appreciate your continued interest in, and passionate support of CleanSpark.
Heartfelt thanks from your fellow shareholders,
Zach and Matt
Zachary Bradford, CEO and S. Matthew Schultz, Chairman
Three months ended June 30, 2020 US GAAP Financial and Operating Highlights:
All amounts below are presented in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) unless otherwise indicated.
- Three-months ended June 30, 2020 Revenue of $3,438,674, up 181% from $1,222,736 in 2019.
- Three-months ended June 30, 2020 Gross profit increased 152% to $544,735, up from $216,592 in 2019.
- Three-months ended June 30, 2020 Net loss per share improved by $0.13 per share to $(0.77) from $(0.90) in 2019.
Nine months ended June 30, 2020 US GAAP Financial and Operating Highlights:
All amounts below are presented in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) unless otherwise indicated.
- Nine-months ended June 30, 2020 Revenue of $8,073,781, up 283% from $2,109,542 in 2019.
- Nine-months ended June 30, 2020 Gross profit increased 246% to $1,342,875, up from $388,054 in 2019.
- Nine-months ended June 30, 2020 Net loss per share improved by $1.13 per share to $(2.32) from $(3.45) in 2019.
Other related developments from around the markets include:
Moderna Inc. (NASDAQ:MRNA) a clinical stage biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines to create a new generation of transformative medicines for patients, today announced a preclinical study evaluating mRNA-1273, its vaccine candidate against COVID-19, was published in The New England Journal of Medicine. The study showed a two-dose vaccination schedule of mRNA-1273 led to a robust immune response and protection against SARS-CoV-2 infection in the upper and lower airways in non-human primates, without evidence of vaccine-associated enhanced respiratory disease (VAERD). In the study, immunogenicity and protective efficacy were assessed after a two-dose vaccination schedule of 10 or 100 µg doses of mRNA-1273 or control given four weeks apart (n=24; 8 per group). Four weeks after the second vaccination, animals were challenged with high doses of SARS-CoV-2 through intranasal and intratracheal routes.
Inovio Pharmaceuticals Inc. (NASDAQ:INO), a biotechnology company focused on rapidly bringing to market precisely designed DNA medicines to treat and protect people from infectious diseases and cancer, announced that its COVID-19 DNA vaccine INO-4800 targeting SARS-CoV-2 was effective in protecting non-human primates (NHPs; specifically rhesus macaques) from live virus challenge 13 weeks after the last vaccination. These protective results were mediated by memory T and B cell immune responses from INO-4800 vaccination. These results, submitted to a peer-reviewed journal and also published today on the non-peer reviewed online preprint site bioRxiv, demonstrate that INO-4800 reduced viral load in both the lower lungs and nasal passages in macaques that received two doses of INO-4800 (1 mg) four weeks apart and then were challenged with live virus 13 weeks after the second dose (study week 17). The reduced viral loads following exposure to SARS-CoV-2 infection at this timeframe demonstrate an important durable impact mediated by INO-4800. This is the first time a vaccine protection in non-human primates was reported from memory immune responses as previously reported monkey vaccine challenge studies were conducted at the time near their peak immune responses (1-4 weeks from their last vaccination).
BioNTech SE (NASDAQ:BNTX) and Pfizer announced an agreement with the Ministry of Health, Labour and Welfare (MHLW) in Japan to supply 120 million doses of their BNT162 mRNA-based vaccine candidate against SARS-CoV-2, subject to clinical success and regulatory approval, beginning in 2021. Financial details of the agreement were not disclosed, but the terms were based on the timing of delivery and the volume of doses. As requested by the Government of Japan, deliveries of the vaccine candidate are planned for the first half of 2021. “We are deeply honored to work with the Japanese government and to marshal our scientific and manufacturing resources toward our shared goal of bringing millions of doses of a potential COVID-19 vaccine to the Japanese people as quickly as possible,” said Albert Bourla, Chairman and CEO, Pfizer. “In the face of this global health crisis, Pfizer’s purpose – breakthroughs that change patients’ lives – has taken on an even greater urgency. Under these difficult circumstances, we are proud to help support Japan in its steadfast determination to bring the world together at the 2020 Tokyo Olympics, in a celebration of solidarity, friendship and the power of sport as a global force for good. Our hope is that, subject to clinical and regulatory success, our potential vaccine will help make this happen.”
Novavax Inc. (NASDAQ:NVAX), a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, and FUJIFILM Diosynth Biotechnologies (FDB), a world leading contract development and manufacturing organization (CDMO) for biologics, viral vaccines and gene therapies, announced an agreement to manufacture bulk drug substance for NVX-CoV2373, Novavax’ COVID-19 vaccine candidate. FDB’s site in Morrisville, North Carolina has begun production of the first batch of NVX-CoV2373. This arrangement falls under Novavax’ recent $1.6 billion award by the federal government as part of Operation Warp Speed (OWS), a U.S. government program that aims to begin delivering millions of doses of a safe, effective vaccine for COVID-19 to the U.S. population. The OWS funding is being used by Novavax to complete late-stage clinical development, including a pivotal Phase 3 clinical trial; establish large-scale manufacturing; and deliver 100 million doses of NVX‑CoV2373 beginning as early as late 2020. NVX-CoV2373 consists of a stable, prefusion protein made using Novavax’ proprietary nanoparticle technology and includes Novavax’ proprietary Matrix‑M™ adjuvant. The batches produced at the FDB site in North Carolina will be utilized in a future pivotal Phase 3 clinical trial of up to 30,000 subjects which is expected to begin in the fall of 2020 and which will determine the safety and efficacy of NVX-CoV2373.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for CleanSpark, Inc. by a third party. We own ZERO shares of CleanSpark, Inc. Please click here for full disclaimer.
Contact Information:
2818047972
[email protected]
