BSQUARE Corp. (BSQR), a company providing software solutions and related engineering services, has seen an increase of 16.25% in the premarket trading session. As a result of that, BSQR stock is currently changing hands at $2.79. Apparently, there seems to be no specific reason for this increase in BSQR stock. On Tuesday, BSQR stock closed the day at $2.40 after increasing some 6.19%. Let’s have a discussion about some recent developments related to BSQR stock.
Q2 2021 financial results
On the 12th of August, BSQR reported the unaudited financial results for the second quarter of the fiscal year 2021, which ended on 30th June 2021. According to the details, the company generated revenue of $10.67 million during the quarter. Comparatively, during the equivalent period of 2020, the net revenue stood at $8.92 million. The gross profit during the quarter stood at $1.19 million. During the equivalent period of 2020, the gross profit was $1.04 million. The total operating expenses during the quarter (includes selling, general, administrative and research, development) were $2.51 million. During the comparative period of 2020, the total operating expenses were $2.12 million. The net income during the quarter stood at $0.29 million. During the equivalent period of 2020, the company bore a net loss of $1.07 million. The income per basic and diluted share during the quarter was $0.02. During the equivalent period of 2020, the loss per basic and diluted share stood at $0.08. On the 30th of June 2021, the company had cash and cash equivalents of $8.89 million. The total assets in possession of the company were $18.75 million. Commenting on the results, Ralph C. Derrickson, CEO, and President of Bsquare said that the improvement in performance is due to the mitigation of the effects of pandemic.
BSQR expansion of partnership with Itron
In mid-February, BSQR announced to extend the agreement with Itron, Inc. According to the details, the companies aimed to extend their relation with each other. The companies said that they would continue to enhance the DI app store of Itron with the device management software of Bsquare. The companies said that the app store is built to offer a diverse ecosystem to users. The app store directly connects to Itron’s Industrial IoT. It intelligently communicates and collaborates with numerous devices across the grid to the edge. That distributed intelligence provides real time insights, local control with safety applications, consumer insights, and distributions grid optimization. Ralph C. Derrickson, President, and CEO, Bsquare, expressed his pleasure over the development. He further said that expansion of agreement is a testament of strong working relation between both companies.
What’s ahead for BSQR?
Recent past stats have not been very positive for BSQR stock. The stock has declined by 2.44% during the last week and some 40% during the past six months. According to analysts, BSQR stock is expected to post a 70% increased EPS during the current fiscal year. So, potential investors should keep a close eye on fluctuations in BSQR stock.
