Second Quarter 2021 Financial Summary vs. Second Quarter 2020
• Revenue was $3.4 million compared to $4.6 million
• Gross margin improved 490 basis points to 45.2% compared to 40.3%
• Operating expenses were $3.5 million compared to $3.2 million
• Net loss was $(2.0) million compared to a net loss of $(1.3) million
Total revenue in the second quarter of 2021 was $3.4 million compared to $4.6 million in the second quarter of 2020. The decrease is primarily due to the reduced volume from a North American VAR customer that allegedly breached a supply agreement with AgJunction and infringed certain of its patents, which has since been settled.
Source: AgJunction Release