| MINIM INC. | |||||||||||||
| Consolidated Statements of Operations | |||||||||||||
| (Unaudited) | |||||||||||||
| (in thousands, except per share data) | |||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||
| Net sales | $ | 14,893 | $ | 10,273 | $ | 29,911 | $ | 22,228 | |||||
| Cost of sales | 10,415 | 8,149 | 20,329 | 17,009 | |||||||||
| Gross profit | 4,478 | 2,124 | 9,582 | 5,219 | |||||||||
| Operating expenses: | |||||||||||||
| Selling and marketing | 3,209 | 2,283 | 6,383 | 4,638 | |||||||||
| General and administrative | 1,327 | 716 | 2,404 | 1,544 | |||||||||
| Research and development | 1,386 | 644 | 2,775 | 1,297 | |||||||||
| Total operating expenses | 5,922 | 3,643 | 11,562 | 7,479 | |||||||||
| Operating loss | (1,444) | (1,519) | (1,980) | (2,260) | |||||||||
| Other income (expense): | |||||||||||||
| Interest income (expense), net | (78) | (3) | (106) | (7) | |||||||||
| Other, net | –– | 1 | 20 | –– | |||||||||
| Total other income (expense) | (78) | (2) | (86) | (7) | |||||||||
| Loss before income taxes | (1,522) | (1,521) | (2,066) | (2,267) | |||||||||
| Income taxes | 32 | 7 | 33 | 13 | |||||||||
| Net loss | $ | (1,554) | $ | (1,528) | $ | (2,099) | $ | (2,280) | |||||
| Net loss per share: | |||||||||||||
| Basic and diluted | $ | (0.04) | $ | (0.07) | $ | (0.06) | $ | (0.10) | |||||
| Basic and diluted weighted average | 35,482 | 22,275 | 35,369 | 21,776 | |||||||||
| common and common equivalent shares | |||||||||||||
Minim Reports Accelerating Revenue Growth of 45% in Q2 2021
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