Dalrada Corporation (OTCQB:DFCO) says its growth is accelerating.
For its fiscal third quarter ended March 31, the company said it generated revenue of more than $1,588,329, a 352% year-over-year increase.
It was the company’s top-performing quarter since Dalrada shifted its mission to innovating global solutions in science, engineering and technology in 2018.
In addition, Dalrada said that quarter-over-quarter revenue increased by 50% compared to the prior quarter ended December 30, 2020 ($1,055,517).
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“Dalrada continues to provide value with its products and services,” the company said in a statement. “As a result, Dalrada is achieving the objectives set for each business segment, despite the resurging disruptions caused by the pandemic to economies and particularly, supply chains.”
However, the company said its gross profit for the quarter was 46%, a decrease from the prior quarter (57%) due to increases in raw materials, promotions to build customer loyalty, the added costs associated with the final stages of machine testing and quality assurance, as well as the addition of two new subsidiaries, Pacific Stem Cells LLC and International Health Group Inc.
Dalrada also said its "net income gain" is attributed to its expansion efforts with existing business segment maturity, growing sales and its new acquisitions offering complementary products and services within the healthcare sector.
“Accelerating growth consistently amid the current business climate is a testament to Dalrada’s perseverance,” said CEO Brian Bonar.
“The company’s steadfast commitment to Corporate Social Responsibility and Inclusion is improving lives now and for future generations. Dalrada would like to thank its shareholders and the public for supporting the company’s mission as it continues to create alternative innovations that advance industries including clean energy, engineering, science & health, and technology.”
Dalrada’s operating subsidiaries Dalrada Precision, Dalrada Health Products, and Dalrada Technologies offer high-value innovative alternative solutions to businesses and consumers worldwide.
With a global footprint in Malaysia, UK, India and the US, the company is well-positioned to supply products and services with the ability to make a meaningful impact in environmental sustainability, healthcare and business growth leveraging technology.
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