Helix Technologies Inc. (fka HLIX)

[NobleRoman]

HLIX PR on Financial Highlights:

https://seekingalpha.com/pr/17973749-helix-technologies-q2-2020-results-record-revenues-positive-cash-flows-from-operations-and


"Those who have been following Helix Technologies know that we have always focused on the disciplined execution of our strategic plans, without fanfare or hype. We continue to deliver value to our expanding client base as their critical infrastructure partner, even as we continue to grow our organic market share and roll out new products in response to customer needs" said Helix Technologies CEO and Executive Chairman Zachary L. Venegas. "In a business and capital market environment that has at times ignored our constantly improving metrics and growing market share, we have stayed the course and achieved all of our 2020 financial goals already--setting the stage for an outstanding and exciting rest of the year. I can assure you that we are only getting started."

Highlights of Q2 and H1 2020 Include:

Grew first half revenue to $9.3mm, a 28% increase over H1 2019

Improved first half gross profit 39% to $4.7mm

Increased Software Gross Profit to $3.9mm in the first half, a 38% increase from 2019

Generated Software Adjusted EBITDA1 of $1.6mm in H1 2020, a 29% margin

Overall Adjusted EBITDA for H1 improved over $2mm from 2019 to $259k

Software revenue increased 20% from H1 2019 to $5.4mm, despite the Coronavirus outbreak and associated market headwinds

Improved quarterly Software Gross Margin to 74%, a 17% improvement from Q2 2019

Posted Q2 Cash Flows from Operations of $446k, a 162% improvement from Q2 2019

$2mm in cash at the end of Q2, a 300% increase from Q4 2019

Launched Cannalytics Cultivation Platform, the first of its kind in the industry

Exceeded 200 Cannalytics clients, more than doubling users in just one quarter

Continued to expand the Helix ecosystem by adding new integration partners

The second quarter of 2020 was a landmark for Helix Technologies, reaching the critically important milestone of positive cash flow from operations, further distinguishing us from the rest of the industry. While companies across all sectors and industries were reeling from the Covid-19 pandemic, Helix's focus on operations, innovation, and strategic execution allowed us to post positive operating results."