Nocera, Inc. Announces Second Quarter 2022 Financial Results

Rhea-AI Summary

Nocera, Inc. (NASDAQ: NCRA) reported a significant 72% increase in net sales for the second quarter of 2022, reaching $2.2 million, compared to $1.3 million in the same period last year. Year-to-date revenue also rose by 82% to $5.1 million. With cash equivalents climbing by 147% to $1.6 million, the company is preparing for U.S. expansion in aquaculture after successfully uplisting to NASDAQ on August 11, 2022. Nocera completed a public offering with proceeds of $6.58 million on August 15, 2022, focusing on building sustainable seafood operations.

Positive

• 72% increase in net sales year-over-year for Q2 2022, totaling $2.2 million.
• 82% increase in year-to-date revenue for the first half of 2022, reaching $5.1 million.
• 147% increase in cash and cash equivalents to $1.6 million.
• Successful uplisting from OTC to NASDAQ on August 11, 2022.
• Completed public offering raising $6.58 million on August 15, 2022.

Negative

• None.

Company achieves a 72% increase in net sales versus second quarter of 2021

TAIPEI CITY, Taiwan, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Nocera, Inc. (NASDAQ: NCRA) (“Nocera” or the “Company”), a fully integrated sustainable seafood company with a focus on manufacturing and operating land-based Recirculatory Aquaculture Systems (RAS), announced second quarter results ended June 30, 2022.

Second Quarter 2022 Highlights and Recent Developments

• Generated $2.2 million in net sales in the second quarter, a year-over-year increase of 72% as compared to $1.3 million in the second quarter of 2021
• Year to date revenue for six months ended June 30, 2022, is $5.1 million, a year-over-year increase of 82% as compared to $2.8 million for six months ended June 30, 2021
• Cash and cash equivalents for six months ended June 30, 2022, is $1.6 million, a year-over-year increase of 147% as compared to $647,000 for six months ended June 30, 2021
• Completed the RAS design for US expansion for Catfish and Tilapia and now focused on the final land purchase
• Successfully Up listed from OTC Markets to NASDAQ on August 11, 2022
• Closing of its underwritten public offering of 1,880,000 units for aggregate gross proceeds of $6.58 million on August 15, 2022

Management Commentary        

Jeff Cheng, CEO of Nocera, Inc. said, “In the second half of 2022, we are operating from a very strong position.   We continue to receive requests and recommendations from our investors to bring aquaculture back to the United States and give the American family the best choice of seafood. Our focus is finalizing the land purchase to start the construction of a land-based fish farm in the United States. We are committed to raise green and sustainable fish for the market and look forward to continued execution of our fish farm construction in the months ahead as we are committed to our shareholders that we will continue to invest and expand in a green and sustainable way in the United States and globally. ”

About Nocera, Inc.

Nocera (NASDAQ: NCRA) is a fully integrated sustainable seafood company that provides land-based recirculation aquaculture systems (RAS) for both fresh and saltwater fish and invests in fish farms by building high-tech RASs. The Company’s main business operation consists of the design, development, and production of large-scale RAS fish tank systems, (aquaculture) for fish farms along with expert consulting, technology transfer, and aquaculture project management services to new and existing aquaculture facilities and operators. For more information, please visit the company’s website at www.nocera.company.com

Cautionary Note Regarding Forward-Looking Statements 

This press release contains forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate, believe, estimate, expect, forecast, intend, may, plan, project, predict, should, will” and similar expressions as they relate to Nocera are intended to identify such forward-looking statements. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the company’s control. Actual events or results may differ materially from those described in this press release due to any of these factors. Nocera is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Investor Contacts:

TraDigital IR

Christine Petraglia

christine@tradigitalir.com

Hanover International

Jh@hanoverintlinc.com

 

FAQ

What are Nocera's second quarter 2022 sales figures?

Nocera reported net sales of $2.2 million for the second quarter of 2022, a 72% increase compared to $1.3 million in Q2 2021.

How much has Nocera's revenue increased year-to-date in 2022?

Year-to-date revenue for Nocera is $5.1 million, reflecting an 82% increase from $2.8 million during the same period in 2021.

What is the significance of Nocera's uplisting to NASDAQ?

Nocera's uplisting to NASDAQ on August 11, 2022, enhances its visibility and access to capital markets.

What are the plans for Nocera's expansion in the U.S.?

Nocera is focused on finalizing land purchases to initiate construction of land-based fish farms in the United States.

How much capital did Nocera raise in its public offering?

Nocera raised approximately $6.58 million from its recent public offering completed on August 15, 2022.