Support.com, Inc. (SPRT) is down 4.66% in the after-hours trading session at the price of $10.65 despite any recent news.
SPRT Published Second Quarter 2021 Financial Results
On 13th August 2021, SPRT announced financial results for the second quarter ended on 30th June 2021. The total revenue was $8.5 million for the second quarter of 2021. A drop of $2.5 million or 23 percent from the second quarter of 2020. Total revenue was $11.0 million in the second quarter of 2020 and $1.1 million or 12 percent compared to revenue of $9.6 million in the first quarter of 2021. SPRT reported a net loss of $0.8 million or $0.03 per share in the second quarter of 2021. A net income of $0.6 million or $0.03 per share was reported in the second quarter of 2020. A loss was $2.0 million or $0.10 per share in the first quarter of 2021. Gross profit was $3.0 million in the second quarter of 2021, compared to $3.9 million in the second quarter of 2020. It was $3.5 million in the first quarter of 2021.
Updates on Merger Transaction Process
On 12th August 2021, SPRT published an update on the merger transaction with Greenidge Generation Holdings Inc. Previously on 19th March 2021, Support.com and Greenidge reported entry into a merger agreement. Support.com has scheduled a special meeting of its stockholders on 10th September 2021. The completion of the proposed merger demands approval at the Special Meeting by the affirmative vote of the holders of outstanding SPRT shares. Only those stockholders who held Support.com shares will be eligible to vote at the Special Meeting. Stockholders that owned shares are encouraged to submit their votes immediately to ensure their representation at the Special Meeting.
Expansion of Tech Support Capacities to Meet Rising Demand
On 4th August 2021, SPRT declared the launch of Homesourcing℠ Cloud, a new platform aimed to improve its technical support services. Homesourcing℠ Cloud is a secure and exclusive cloud-based platform supporting a globally distributed workforce. It gives access to a suite of tools that allow home-based experts to solve the most complex problems. These resources are available as part of the company’s white-labeled premium tech support subscription. It is equally applicable for large enterprises businesses and professional services firms.
SPRT’s global network of specialists can provide customer and tech support for any location or vertical. The company’s unique homesourcing℠ model enables Support.com to hyper-target, hire, and onboard highly suitable experts at the industry’s fastest pace. Global team enlargements allow SPRT to offer round-the-clock support services and business process continuity.
