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Vinco Ventures (NASDAQ:BBIG) earnings and profit surged during the third fiscal quarter

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The results for the third quarter ended September 30, 2020 were released by Vinco Ventures (NASDAQ:BBIG).

Revenues for the third quarter of 2020 rose to $4.25 million compared to $3.53 million in a year ago period, a rise of 20.34 percent.Gross profit for the third quarter of 2020 rose by $593,696 relative to gross profit for the third quarter of 2019, an increase of 60.06 percent .Gross margin for the third quarter of 2020 improved to 37.2 percent compared to the 28.0 percent gross margin for the third quarter of 2019.

Profits from the third quarter of 2020 fell to $14.80 million compared to $15.24 million, a decline of 2.89 percent.Gross profit for the third quarter of 2020 fell by $4,343 relative to gross profit for the third quarter of 2019, a decline of 0.09 percent.Gross margin for the third quarter of 2020 rose to 32.6 percent compared to a gross margin of 31.7 percent for the third quarter of 2019 .

In the q3 of 2020, the net loss was $2.87 million, or ($0.30) per basic and diluted share, relative to a net loss of $2.63 million, or ($0.44) in the q3 of 2019, per basic and diluted share.

Compared to a net loss of $5.78 million or ($1.00) per basic and diluted share in the third quarter of 2019, the net loss for the first nine months of 2020 was $3.20 million or ($0.29) per basic and diluted share.

In the third quarter of 2020, adjusted EBITDA, a non-GAAP calculation, amounted to negative $0.183 million, relative to negative $1.317 million in the third quarter of 2019.

In the first nine months of 2020, adjusted EBITDA, a non-GAAP calculation, amounted to negative $ 1,100 million, relative to negative $ 1,511 million in the first nine months of 2019.

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