The radio-frequency and wireless tech provider Impinj was affected by the pandemic like many industries were. Here’s how it performed in the four quarters of a loss-making 2020:
- For Q1 2020, Impinj earned revenue worth $47.8 million. It also made GAAP net loss worth $4.3 million.
- The company admitted that COVID-19 had a negative impact on its Q2 2020 financial results. It reported revenue worth $26.5 million, significantly lesser than its Q1 revenue. Its GAAP net loss was also greater, at $17.5 million.
- For Q3 2020, Impinj reported revenue worth $28.2 million, which beat the stock market’s expectations and was a slight growth from Q2 though it was a year-over-year drop of 30%.
- During Q4 2020, Impinj managed to earn $36.4 million worth of revenue. It also reported GAAP net loss worth $15.7 million.
The pandemic did bring about challenges for the biotech company Ocugen that focuses on treating blindness-related diseases, but it could still complete the planned enrolment of its OCU300 drug for treating ocular graft versus host disease during Q1.
- For Q1 2020, Ocugen reported a net loss worth $3.9 million. This was less than the $6.3 million net loss sustained in Q1 2019. Cash and cash equivalents, as well as restricted cash, amounted to $3.3 million, compared to Q1 2019’s $7.6 million.
- For Q2 2020, the company reported a net loss worth $3.6 million, more than the net loss worth $3.5 million it sustained in Q2 2019. Cash and cash equivalents, as well as restricted cash, amounted to $15.1 million.
- For Q3 2020, Ocugen reported cash & cash equivalents as well as restricted cash totaling $19.3 million. Loss per share was reported at $0.07 per share, significantly lesser than the $3.35 loss per share sustained in Q3 2019.
- Q4 2020 saw Covaxin, the COVID-19 vaccine candidate Ocugen is hoping to bring to the US market from India, demonstrate 81% efficacy in interim Phase 3 results. For the full 2020, Ocugen reported cash & cash equivalents as well as restricted cash totaling $24.2 million. This was more than $7.6 million as of December 31, 2019. Full-year net loss per share was reported at $0.31, compared to $1.46 by December 31, 2019.
The fuel-cell truck designer and manufacturer is a start-up having to promise alternatively powered truck models with the potential to disrupt the market. However, being a start-up, it is going through the initial loss-making stage. Add COVID-19 to the equation, and the company had a challenging 2020 on its hands.
- For Q2 2020 Nikola reported a net loss worth $86,643 compared to $16,766 for Q2 2019.
- For Q3 2020 Nikola reported a net loss of $117,469 compared to $15,514 for Q3 2019.
- Q4 2020 saw Nikola reporting a net loss worth $147,096 compared to $26,279 for Q4 2019.
For the credit card company Visa, the rise in online payments did give the company year-over-year revenue growth from 2019. However, the company’s business drivers experienced a slowdown in growth, particularly in Q2.
- During Q1 2020, Visa earned net revenue worth $6.1 billion. This was a year-over-year growth of 10%.
- For Q2 2020, the company reported net revenue worth $5.9 billion, a year-over-year growth of 7%.
- Q3 2020 saw Visa attain net operating revenue worth $4.8 billion. While this overtook the estimates by Zacks by 0.62%, the company reported a year-over-year drop of 17% in the top line.
- The fourth quarter of 2020 saw the company report net revenue worth $5.1 billion, a 17% decline.
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