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Nerds On Site says 2Q revenue rises nearly 8% as coronavirus boosts remote working and learning

Published: 11:10 25 Feb 2021 EST

Nerds On Site -
Nerds On Site said its management has focused on driving new business and streamlining internal processes and operations

Nerds On Site Inc (CSE:NERD) (OTCMKTS:NOSUF) reported its financial results for 2Q 2021, as the company’s revenue rose 7.7% to $2,452,312, along with a 22.5% bump in its gross profit, following increased demand for its services as more people worked and learned from home due to coronavirus (COVID-19) restrictions.  

Nerds On Site also recorded an 82% reduction in its net loss for the quarter as selling, general and administration expenses fell by 39%.

“In response to unpredictable COVID conditions, NERDS management have focused on driving new business and streamlining internal processes and operations,” Nerds On Site CEO Charles Regan said in a statement.  

READ: Nerds On Site sees revenue jump 14% in fiscal 2020 driven by expanding customer base

He added: “NERDS has quickly evolved its capabilities to respond to a new set of opportunities to serve home-based work and school requirements that did not exist a year ago. We see these business areas continuing in the future and we are committed to supporting businesses and families to increase efficiency and safety in home environments that require technology and innovation to serve multiple purposes going forward.”

The company noted that it has seen increased demand from existing and new small and medium-sized enterprise clients to implement secure NERDS WorkZone setups in their team member’s homes, condos and apartments, as COVID-19 circumstances continue to impact both work and personal lives in all NERDS markets.  

Nerds On Site added that its NERDS SchoolZone setups have been assisting families to create secure, and distraction-free in-home classroom settings for their children's online school sessions.

The company provides cybersecurity and mobile IT-support services for small and medium-sized enterprises as well as for corporate and residential users. It offers more than a dozen services, including network installation and support, PC setup, tailored software services, website design and hosting, and wireless networking. It also runs round-the-clock network security and device monitoring, on-site and remote support, and IT-asset management, among other services.

Nerds On Site, which operates in 10 cities across Canada and three US states - Florida, Nevada and North Carolina - has teams of carefully chosen technology specialists ready to visit homes or workplaces to diagnose problems on the spot and offer ongoing managed solutions to prevent problems occurring in the first place.

Contact Sean at sean@proactiveinvestors.com

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