All You Need to Know about SG Block’s Earnings Performance in 2020

As of last checked, SG Blocks Inc (NASDAQ: SGBX) traded at $3.88 in the premarket. This was 14.54% less than the previous day’s trading. In the regular market session of April 15, 2021, SGBX stock closed at $4.54. Unlike the premarket trade, SGBX stock experienced a 6.32% increase from the last regular market. SGBX recorded achieving record revenue in the fourth quarter that ended on December 31, 2020.

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What is SGBX?

SG Blocks Inc. is an American company established in 1993. It provides cargo shipping containers to various industries. Since 2007, SGBX has developed and implemented technology to reduce its carbon footprint and move towards greener methods. Each SGBX container acts as a building block module. These containers can be arranged in any stacking configuration according to their respective needs. SGBX is exclusively collaborating with ConGlobal Industries Inc. and is also affiliated with PVE Sheffler.

What is Happening with SGBX?

On April 16, 2021, SGBX revealed its fourth financial quarter report. The report showed that SGBX completed 2020 by achieving a record quarterly revenue. The quarterly revenue was so high that it surpassed the previous eight quarters combined. This massive increase in revenue can be credited to the increased activity of SGBX’s verticals all year.

In the healthcare sector, SGBX brought in cost-effective measures to provide point-of-care testing services to critical travel partners, underprivileged populations, and health care providers. SGBX also recently launched SGB Development Corp. to deliver apartments and homes for sales.

SGBX Fourth Quarter Report

In the fourth financial quarter, SGBX had 21 projects underway. In the previous quarter, it had 17. Likewise, in December 2020, SGBX’s construction backlog was around 25.1 million USD, compared to 25.9 million USD in September 2021. With the release of this report, SGBX stocks are heading towards further growth. In 2020’s fourth quarter, SGBX earned $7.4 million against $337,000 in 2019’s fourth quarter. In total, SGBX made a revenue of around $8.8 million in 2020, compared to $3.0 million made in 2019.

As far as net loss is concerned, SGBX’s net loss was around $1.6 million for the fourth quarter of 2020. This was $4.1 million for the fourth quarter of 2016. Adding more to this, for the full year 2020, net loss was around $4.7 million against $4.9 million in 2019.

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