from the Boulder paper...
Surna more than doubles sales, but losses continue
By LUCAS HIGH |
November 11, 2021 at 4:17 p.m.
Surna Inc. (OTCQB: SRNA), a Boulder-based manufacturer of growhouse equipment for the cannabis industry, saw its revenues more than double year-over-year in the third quarter of 2021, but quarterly losses also mounted.
The company posted $3.7 million compared with $1.6 million for the same period last year.
Operating losses for the most recent period were $400,000, up from losses of $300,000 during the third quarter of 2020.
“In the third quarter we saw the second-best quarter in our history for net bookings. Revenue in the quarter continues our year-over-year trend of significant increases,” Surna CEO Tony McDonald said. “We have seen the continuation of momentum in our commercial pipeline with our increased product offerings and execution against our organic growth strategy.”
The company is also adopting a new trade name, Surna Cultivation Technologies.
Surna has struggled with profitability in recent years, but the company was in the black as recently as the second quarter of 2021.
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