Sonoma Pharmaceuticals Q1 revenue rises on US growth - SNOA News | RalliesSonoma Pharmaceuticals Q1 revenue rises on US growth
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SNOA• Outlook
- The company said new FDA clearances and global distributors support continued commercial growth.
- Sonoma believes expanding partnerships and its product pipeline position it for profitable growth.
Revenue drivers
- US sales growth - The company attributed a 141% increase in US revenue to higher sales of over-the-counter products and expanded distributor activity.
- Global distribution expansion - The company added new distributors in Taiwan, Vietnam and the US, supporting commercial growth.
- European demand and FX - The company said European revenue rose 34% due to increased demand and favorable exchange rates.
Quarterly results
- US wound care products maker's fiscal Q1 revenue rose 60% year over year.
- Net loss per share fell 88% from the prior-year quarter.
- Gross margin expanded to 40% as operating expenses stayed flat.
| Metric | Actual |
|---|
| Q1 Revenue | $6.4 mln |
| Q1 Gross Profit | $2.6 mln |
| Q1 Operating Expenses | $2.6 mln |
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