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PCS Edventures!, Inc. reports developments tied to its TK-12 STEM education business, which designs and delivers technology-rich products and services that emphasize experiential learning in science, technology, engineering and math. Company updates commonly address quarterly and annual operating results, gross margin, seasonality in education demand, and market conditions affecting after-school and summer learning programs.
News also covers PCSV’s capital actions and operating initiatives, including common-stock repurchases, investments in fulfillment capacity, product development for education technology offerings, and management or governance changes. The company’s public updates frame these items within its OTC-traded public-company profile and its focus on STEM programs for schools and related learning markets.
PCS Edventures!, Inc. (PCSV) has been selected by the Iowa Governor's STEM Advisory Council to expand its Ready, Set, Drone! program for upper elementary and middle school students. Iowa allocates $3M annually for quality STEM education, impacting up to 100,000 learners. PCS Edventures is among twelve approved program providers for the 2022-2023 academic year, offering educators materials and training to implement the program. The initiative aims to inspire students toward STEM careers relevant to industries like agriculture and construction.
PCS Edventures!, Inc. (PCSV) reported strong financial results for Q2 FY2022, achieving revenue of $0.99 million, a remarkable 154% increase compared to $0.39 million in Q2 FY2021. The company also transitioned to a net income of $0.09 million, compared to a net loss of $0.21 million in the same quarter last year. With $0.46 million in cash, plans to enhance shareholder returns, and expectations of record sales early 2022, PCS anticipates becoming an SEC reporting company in Q1 2022. This strategic move aims to boost visibility and investor engagement.
PCS Edventures!, Inc. (PCSV) reported strong results for Q1 FY2022, with revenue reaching $1.06 million, a significant 47% increase compared to $0.72 million from the same period last year. The company achieved a net income of $0.09 million, a turnaround from a loss of $0.08 million in Q1 FY2021. Cash flow from operations was $0.15 million, and cash reserves were $0.64 million. Management anticipates continued revenue growth and increased capacity to meet rising demand for K-12 STEM education products.
PCS Edventures!, Inc. (PCSV) reported its FY 2021 results, showing a significant decline in revenue to $2.11 million from $5.00 million in FY 2020. The company faced a net loss of ($0.16 million), compared to a profit of $1.04 million the previous year. Despite the setbacks from the pandemic, PCS is optimistic about FY 2022 due to increased sales as schools reopen and additional funding from government stimulus. Management projects that FY 2022 could be the company's strongest year yet in revenue and profitability.
PCS Edventures!, Inc. (PCSV) reported its Q3 fiscal results for 2021, revealing a 38% decline in revenue, totaling $0.36 million compared to the previous year. Net income improved to ($0.04 million), an increase from ($0.21 million) year over year, aided by a $184,480 gain from PPP loan forgiveness. Despite ongoing challenges in K-12 education due to the pandemic, the company achieved its third consecutive profitable year in 2020, with net income of $346,774.
PCS Edventures! (PCSV) announced the launch of BrickLAB STEAMventures, a K-3 educational product that combines magazines with LEGO-compatible bricks to enhance STEAM learning. The company faced challenges in securing a loan from the Federal Reserve's Main Street Lending Program, having been rejected by multiple banks due to concerns over credit profiles. Despite these setbacks, PCS anticipates launching its Enterprise Drone, aimed at sectors like law enforcement and agriculture, which is expected to generate sales. The company maintains a focus on experiential learning in the K-12 market.