Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multichannel environment including point-of-sale (“POS”), e-commerce and mobile devices, has announced its second-quarter 2021 financial results for the period ended June 30, 2021. A highlight of the report was an increase of net revenue to $33.3 million for the company, compared to $13.7 million for the same period in 2020. The company noted the following revenue figures as well: North American Transactions Solutions revenue totaled $32 million, compared to $13 million for the same quarter in 2020, and International Transaction Solutions revenue increased to $1.3 million, as compared to $0.74 million for the same comparable quarter in 2020. Other financial results included an increase of operating expenses to $3.1 million, as compared to $2.2 million for the same period in 2020; gross margin increased to $3.7 million, compared to $2.2 million for Q2 2020; and an increase of net income per share to $0.21 compared to a net loss in Q2 2020 $0.08 per share. Finally, the report noted that reflected in net income attributable to common stockholders for the quarter ended June 30, 2021, are two nonrecurring other income transactions totaling approximately $1.0 million: $0.4 million for a PPP note debt forgiveness and $0.6 million in late fees due from Mullen in connection with the Mullen merger agreement.
To view the full press release, visit https://ibn.fm/zi18M
About Net Element Inc.
Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the United States and selected emerging markets. For additional information about the company, visit www.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
About MissionIRNewsBreaks
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
Editor@MissionIR.com
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html
