Aeroclean Technologies Inc. (AERC), an air purification technology company, closed Friday’s regular trading session at $4.58 after rocketing 27.22% during the day. The surge has led to stock’s decline in aftermarket trading session, the reason being a profit-taking factor. At the last check, AERC stock was trading at $4.35 after declining 5.02% during the aftermarket. The surge on Friday followed the release of strong financial results.
Q4 2021 Results
On Friday, AERC released the financial results for Q4 2021. The company’s revenue during the quarter was $0.35 million, depicting an increase of 35.9% compared to Q3 2021. The gross profit for Q4 2021 was calculated to be $0.16 million, while the gross profit margin was 46.2%. That represented an increase of 270 basis points on a quarter-over-quarter basis. Aeroclean reported a net loss of $1.74 million during Q4 2021 against $1.5 million during Q3 2021.
FY 2021 Results
Alongside, AERC also released the results for FY 2021. The operating expenses bore by the company during the fiscal year were $8.5 million. Compared to that, during FY 2020, the company bore operating expenses of $3.3 million. The total net loss for the year was $7.9 million (or basic and diluted loss per share of $0.74) against the net loss of $3.3 million suffered during FY 2020 (or basic and diluted loss per share of $1.02).
AERC CEO Commentary
Jason DiBona, Chief Executive Officer of AERC, stated that the company’s focus during 2021 had been to set a solid footing for achieving the goal of becoming one of the top providers of clean air technology. Aeroclean is looking forward to continuing its sustained partnerships as well as forging new relationships in the wake of the subsiding effects of the COVID pandemic.
What’s Coming Up for AERC?
Looking ahead, analysts believe that AERC stock holds several positive signals, but they are not enough for it to be considered a buy stock. Hence, at the current level, investors should consider holding the stock while waiting for future developments.