ManifestSeven Reports Record Results for Fourth Quarter and Fiscal Year 2020
Record consolidated revenue of $17.7 million during fiscal year 2020, representing a 64% year-over-year increase, compared to $10.8 million during fiscal year 2019, and $4.0 million during the fiscal fourth quarter 2020.
- Record consolidated revenue of $17.7 million during fiscal year 2020, representing a 64% year-over-year increase, compared to $10.8 million during fiscal year 2019, and $4.0 million during the fiscal fourth quarter 2020.
- Consolidated gross profit of $5.5 million during fiscal year 2020, representing a 97% year-over-year increase, compared to $2.8 million during fiscal year 2019, and $1.3 million during the fiscal fourth quarter 2020.
- Consolidated gross margins increased from 26% during fiscal year 2019 to 31% during fiscal year 2020, and 32% during the fiscal fourth quarter 2020.
- M7 continued to optimize its cost structure, resulting in a year-over-year reduction in operating expenses (excluding depreciation and amortization and share-based payment expense) of 27% and 52% during fiscal year and fourth quarter 2020, respectively.