Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multichannel environment including point-of-sale (“POS”), e-commerce and mobile devices, has announced its second-quarter 2021 financial results for the period ended June 30, 2021. A highlight of the report was an increase of net revenue to $33.3 million for the company, compared to $13.7 million for the same period in 2020. The company noted the following revenue figures as well: North American Transactions Solutions revenue totaled $32 million, compared to $13 million for the same quarter in 2020, and International Transaction Solutions revenue increased to $1.3 million, as compared to $0.74 million for the same comparable quarter in 2020. Other financial results included an increase of operating expenses to $3.1 million, as compared to $2.2 million for the same period in 2020; gross margin increased to $3.7 million, compared to $2.2 million for Q2 2020; and an increase of net income per share to $0.21 compared to a net loss in Q2 2020 $0.08 per share. Finally, the report noted that reflected in net income attributable to common stockholders for the quarter ended June 30, 2021, are two nonrecurring other income transactions totaling approximately $1.0 million: $0.4 million for a PPP note debt forgiveness and $0.6 million in late fees due from Mullen in connection with the Mullen merger agreement.
To view the full press release, visit https://nnw.fm/hH4S1
About Net Element Inc.
Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the United States and selected emerging markets. For additional information about the company, visit www.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://nnw.fm/NETE
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork