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BUSINESSSurna Inc (OTCMKTS:SRNA) Posts Revenues Of $3.387 Million In Q4 2020

Published 1 day ago on April 12, 2021By Ward Sport


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Surna Inc (OTCMKTS:SRNA) posted a drop of 9% YoY in revenues to $3.387 million in Q4 2020. Its full-year revenues are $8.5 million (down 44% YoY).

Improves cash balance
Surna improved its cash balance in 2020 to $2.285 million (up 147.8% YoY). It is on the backdrop of improvement in operating activities.

The company conserved cash during the coronavirus pandemic by reducing operational spendings like travel expenses, compensation, and work hours.

Surna signed sales contracts worth $3.46 million in Q4 2020. Its total sales contracts in H2 2020 are $7.9 million.

The company’s effectiveness in marketing its services and bagging new orders is impacted by the government mandates to reduce work, general economic conditions, and working capital constraints.

Strategic pact with Anden
Surna signed a strategic alliance with Anden on March 16, 2021. As per the terms of the pact, both firms will improve their capabilities to provide best-in-class dehumidification to the agriculture environments.

Surna is a leader in the agriculture industry and familiar with every aspect of the design of cultivation facility besides specialization in HVACD systems.

Anden is a pioneer in the agriculture environment. It leverages the power of customized and innovative dehumidification equipment.

CEO of Surna, Tony McDonald, said the company is pleased to partner with Anden. Customers in the CEA (controlled environment agriculture environments) need affordable and high-performance dehumidification in their facilities to flourish. By joining hands with Anden, the company provides high-quality and reliable dehumidification equipment for their facilities.

General Manager of Anden, Sean McCarthy, said the company is looking forward to partner with Surna. He further said Surna’s flexible and unique approach to the design is impressive. Surna’s talent and commitment to developing effective grow rooms perfectly align with its target of producing efficient equipment for grow.

The team at Anden is pleased to work with Surna and strengthen their partnership to respond to future needs.

The product line of Surna comprises air handling equipment/ systems, liquid-based process cooling systems, automation and control devices, and a complete engineering package to design and develop thermodynamic systems.

The client base of Surna includes commercial growers in Canada and the US, and other locations worldwide. Surna generates revenues from the supply of products, services, and technologies for hybrid sealed greenhouse facilities and commercial indoor facilities.

https://factsaboutcbd.org/surna-inc-otcmktssrna-posts-revenues-of-3-387-million-in-q4-2020-4313