Liquidmetal Technologies Inc. (OTCMKTS:LQMT) down 10% in a week. The company reported its Q2 2021 financial results in which revenue was $243,000. Notably, the revenue was a combination of royalty revenues through existing contracts, production deliveries volumes, and initial deliveries for the latest application development efforts.
The cost of goods sold was $154,000 compared to $35,000 a year ago. The increase is attributed to revenue increase with a considerable amount associated with volume production deliveries that led to high gross margins. At the end of the quarter, cash and equivalents plus restricted cash were around $10.9 million with $17.3 million in debt securities investments.
CEO Tony Chung said that as they close Q2 2021, they are looking forward to 2H 2021 and beyond with an emphasis on business development and sales expansion while at the same time minimizing costs to attain profitability. He added that with the COVID-19 pandemic, the company is poised to leverage upcoming prospects with the global economy’s resurgence. So, LQMT is worth watching in months to come.