Welcome to our dedicated page for Cea Industries news (Ticker: CEADW), a resource for investors and traders seeking the latest updates and insights on Cea Industries stock.
News and updates for CEA Industries Inc. (NASDAQ: CEAD, CEADW) focus on the company’s transition from a controlled environment agriculture specialist toward a business centered on the regulated vaping and nicotine market. Company press releases highlight material events such as the acquisition of Fat Panda Ltd., changes to its Nasdaq ticker symbol, and shifts in financial reporting practices.
One major news theme is CEA Industries’ acquisition of Fat Panda, described as central Canada’s largest retailer and manufacturer of nicotine vape products. News items detail the signing of the acquisition agreement, subsequent progress updates, and the announced completion of the transaction. These releases outline Fat Panda’s 33 retail locations across Manitoba, Ontario, and Saskatchewan, its e-commerce platform, and its vertically integrated manufacturing of premium e-liquids and other vape products.
Investors following CEAD and CEADW news will also see coverage of the company’s decision to change its Nasdaq Capital Market ticker symbol from CEAD to VAPE. The company explains that this change is meant to reflect its strategic focus on the vaping industry and align its market identity with its evolving operations following the Fat Panda acquisition.
Regular financial news includes quarterly and annual results, where CEA Industries reports revenue, gross profit or loss, operating expenses, and net income or loss, along with commentary on its lean operating model, backlog of controlled environment agriculture-related work, and acquisition-related costs. The company also issues announcements about investor presentations, conference participation, and conference calls discussing its strategy and the implications of the Fat Panda transaction.
This news page aggregates these disclosures so readers can track earnings reports, acquisition milestones, ticker and fiscal year changes, and other material developments affecting CEA Industries and its warrants.
CEA Industries reported Q3 2024 financial results with revenue of $0.4 million, down from $0.9 million in Q3 2023. The company posted a net loss of $0.7 million or $(0.94) per share, showing slight improvement from a $0.8 million loss in Q3 2023. Net bookings increased to $0.5 million, while quarter-end backlog decreased to $0.4 million. The company maintained $10.3 million in cash and remains debt-free. Management announced further cost reduction measures including headcount reductions and paused product development while the Board explores strategic alternatives including potential sale, merger, or company dissolution.
CEA Industries Inc. (NASDAQ: CEAD) reported its Q2 2024 results, showing a 66% increase in revenue to $1.8 million compared to Q2 2023. The company booked and fulfilled a $1.2 million contract in Q2, reducing its net loss to $0.5 million or $(0.66) per share, down from a $0.7 million loss in Q2 2023. Gross profit increased over 2x to $180,000, with gross margin improving by 280 basis points to 10.2%. Operating expenses decreased 16% to $0.7 million due to cost-cutting measures.
CEA Industries continues to operate under a lean cost structure, focusing on expense reduction and capital preservation. The company's cash position stood at $11.3 million as of June 30, 2024. The Board of Directors is exploring strategic alternatives, including a potential sale, merger, or dissolution of the company.
CEA Industries announced a 1-for-12 reverse stock split effective June 7, 2024. Each twelve shares of common stock will be converted into one share. Publicly traded common stock purchase warrants will also be adjusted, allowing each 12 warrants to acquire one share at a revised price of $60.00. The reverse split aims to maintain the company's Nasdaq listing. However, there is no assurance that the stock price will reflect the reverse split ratio or remain above the pre-split price. Shares will trade on a split-adjusted basis from June 7, 2024, with new CUSIP number 86887P309. Fractional shares will be rounded up to the next whole share.
CEA Industries (NASDAQ: CEAD) reported its Q1 2024 financial results. Revenue plummeted to $235K from $4.7M in Q1 2023. Gross profit turned negative at $(154K), down from $853K. Operating expenses declined 41% to $769K, but net loss widened to $917K from $431K. Cash reserves dropped to $11.6M from $12.5M at year-end 2023.
The company continues its strategic review, exploring options including a sale or merger. Discussions with potential partners are ongoing, but no outcome is assured. The backlog decreased to $0.5M from $1.9M, driven by reduced capital expenditures in the cannabis market.
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