• Taoping Inc. (NASDAQ: TAOP) reported sales for fiscal year 20 Decrease of 20% year over year to USD 11.0 million. The 2020 pandemic and slowdown in China’s outdoor advertising market resulted in a decline.
  • The gross margin decreased 1,220 basis points to 35.7%.
  • The operating loss more than quadrupled to $ 17.4 million, primarily due to a $ 10 million increase in the allowance.
  • The net loss quintupled to $ 17.7 million. The loss per share was $ 2.49.
  • The company generated $ 1.8 million in operating cash flow. It had cash and cash equivalents of $ 1.1 million.
  • Updating the Taoping Smart Cloud Platform by tapping in the second half of 2020 and optimizing the performance of ad publication, data monitoring, publication management, transaction system and docking of API interfaces resulted in a revenue recovery from the first half of …

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