Senstar Technologies (NASDAQ: SNT), a leading international provider of comprehensive physical, video, and access control security products and solutions, today announced its financial results for the three months ended March 31, 2022.
• Q1 2022 revenue increased 4% to $6.8 million compared with $6.5 million in the comparable period of 2021.
• Net loss was ($1.1) million compared to a net loss of ($2.0) million in the 2021 period, which included a ($1.2) million loss from discontinued operations.
• EBITDA loss improved to ($0.3) million compared with an EBITDA loss of $($0.4) million in the comparable period in 2021.
• Strong balance sheet with cash of $24.2 million, or $1.04 per share, and zero debt as of March 31, 2022.
CEO Dror Sharon stated, "As previously stated on our prior earnings call, we closed a large contract in EMEA and delivered year-over-year revenue growth, despite the first quarter being a seasonally weaker quarter for our business. Importantly, we are effectively managing our supply chain and have increased inventory to assure continued customer order fulfillment and to maintain our gross margins.
SNT shares lost two cents, or 1%, to $2.00.
