Month: August 2021

Release – Stem Holdings Inc. dba Driven By Stem Announces Record Sales and Gross Margin for the Third Quarter

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Stem Holdings, Inc. d/b/a Driven By Stem Announces Record Sales and Gross Margin for the Third Quarter

 

BOCA RATON, Fla., Aug. 16, 2021 (GLOBE NEWSWIRE) — Stem Holdings, Inc. d/b/a Driven by Stem (OTCQX: STMH) (CSE: STEM) (the “Company” or “Stem“), the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company featuring a proprietary Delivery-as-a-Service (DaaS) marketplace platform, today reported results for the third fiscal quarter ended June 30, 2021. Stem reported third quarter record gross sales of US$12.4 million and net sales of US$10.6 million, a 104% increase and 103% increase, respectively, over the prior year’s US$6.1 million gross sales and US$5.2 million net sales. Gross margin improved 7.6% to 41.8%, reflecting improvements in productivity, mix, and synergies from the Company’s acquisition of Driven Deliveries, Inc.

“I am proud of our results, and of our team which is executing our robust four-point plan for growth,” stated Adam Berk, Chief Executive Officer. “We are building our footprint with a strong ongoing focus on cost reductions, operational excellence, and customer acquisition and retention to drive topline sales and margin improvement as we did this quarter,” he continued. “Most importantly, we are uniquely connecting our brands, products and delivery services with the cannabis community from Farm to Home™ for long-term stability. We expect to achieve longer-term benefits that will build value for our shareholders as we invest in organic and acquisitive growth,” Berk concluded.

Stem is also reporting a 19% increase in total dispensary sales, a significant outperform to market particularly in Oregon which grew at 7% in the same period. This reflects continuous improvement initiatives and emphasis on customer service. This effort dovetailed with the launch of the company’s Budee™ delivery platform in Oregon which occurred on August 9, 2021. A customized app was built from front-to-back for this official launch, and Budee™ is now anchored by Stem’s TJ’s on Powell dispensary servicing the Greater Metro Portland area. The Company expects that Budee™ will expand to cover the majority of Oregon beginning with the Eugene metro in October 2021. In addition, Budee™ continues to increase its penetration of the California delivery market where it originated. It now covers 92% of that state’s population particularly in areas where there is high demand and a low density of dispensaries.

Stem also expects to launch its first dispensary in Michigan in September 2021, which will be coupled with Budee™ delivery, as the next step in the Company’s “Get Ready” retail expansion strategy.

As Stem builds its Farm-to-Home™ infrastructure with vertical integration from cultivation to delivery, the Company has also invested in expanding its canopy for high-quality cannabis growth, particularly at its Mulino, Oregon farm and its newest facility in Springfield, Oregon. All five Stem cultivation facilities in Oregon are growing core and new genetics to delight customers and build loyalty. Stem’s extraction lab which now includes solventless extraction is supporting both Stem’s edibles and concentrates, two sectors that are both growing and margin-accretive. Stem’s products are now sold in over 240 dispensaries outside of Stem branded stores.

Stem will host a conference call to discuss the financial results on Tuesday, August 17, 2021 at 8:00 am as previously announced.

Conference Details

Management plans to host a conference call to discuss the financial results on Tuesday, August 17, 2021 at 8:00 a.m. EDT.


Date:
Tuesday, August 17, 2021

Time:
8:00 a.m. EDT

Dial-in:
1-877-425-9470 (U.S. Toll Free) or 1-201-389-0878 (International)

Conference ID:
13722361


Webcast:
A live webcast can be accessed via the following link: http://public.viavid.com/index.php?id=146252



A replay of the webcast will be archived on the Company’s website for one year.

About Stem Holdings

Stem Holdings is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem’s family of award-winning brands includes TJ’s Gardens™, TravisxJames™, and Yerba Buena™ flower and extracts; Cannavore™ edible confections; Doseology™, a CBD mass-market brand launching in late 2021; as well as DaaS brands Budee™ and Ganjarunner™ through the acquisition of Driven Deliveries. Budee™ and Ganjarunner™ e-commerce platforms provide direct-to consumer proprietary logistics and an omnichannel UX (user experience)/CX (customer experience).

Forward-Looking Statements 
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations.  When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to: (i) the implementation of the Company’s business plan; (ii) the expansion of Stem’s brands, retail footprint, delivery services and products into other markets, including Michigan; (iii) expected impact of the Company’s extraction lab; (iv) the expected launch of new brands and products by Stem; and (v) expected organic and acquisitive growth. 

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, insurance, intellectual property and reliable supply chains; and risks related to the Company and its business generally. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change.  Investors are cautioned against attributing undue certainty to forward-looking statements.

Stem Holdings 
Investor Relations Contact: 
KCSA Strategic Communications 
Valter Pinto or Elizabeth Barker 
+1 212.896.1254 or +1 212.896.1203 
valter@kcsa.com or ebarker@kcsa.com

Media Contact: 
Mauria Betts 
Director of Branding and Public Relations 
971.266.1908 
mauria@stemholdings.com

Comtech Telecommunications Corp. Awarded $4.7 Million Contract with Channel Partner

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Comtech Telecommunications Corp. Awarded $4.7 Million Contract with Channel Partner

 

MELVILLE, N.Y.–(BUSINESS WIRE)–Aug. 18, 2021– 
August 18, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today, that during its fourth quarter of fiscal 2021, it was awarded a contract valued at up to 
$4.7 million with a channel partner to supply new releases to messaging application software for a 
U.S. tier-one mobile network operator.

“This long-time customer has depended on 
Comtech for reliable messaging services for decades,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp. “These software release updates will ensure their end users are provided with exceptional performance and consistent world class messaging services for the next two years.”

The contract was awarded to Comtech’s Trusted Location group, a leading provider of precise device location, mapping and messaging solutions for public safety, mobile network operators, and enterprise solutions. Sold around the world to mobile network operators, government agencies, and Fortune 100 enterprises, our platforms locate, map, track and message. For more information, visit www.comtechlocation.com.

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions to customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.

QuickChek – August 18, 2021

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Comtech Telecommunications Corp. Awarded $4.7 Million Contract with Channel Partner

Comtech Telecommunications announced that during its fourth quarter of fiscal 2021, it was awarded a contract valued at up to $4.7 million with a channel partner

Research, News & Market Data on Comtech

Watch recent presentation from Comtech



Stem Holdings, Inc. d/b/a Driven By Stem Announces Record Sales and Gross Margin for the Third Quarter

Stem Holdings announced results for the third fiscal quarter ended June 30, 2021

See today’s STMH research report from Joe Gomes, Senior Research Analyst Noble Capital Markets

Research, News & Market Data on Stem Holdings

Watch recent presentation from Stem Holdings



Kratos Announces Continued Product Growth Supporting Virtualized Satellite Ground Systems

Kratos Defense & Security Solutions announced that in the second quarter of 2021 it delivered products supporting the satellite industry’s movement toward dynamic, virtualized ground systems to 23 customers around the globe

Research, News & Market Data on Kratos

 

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Helius Medical Technologies (HSDT)(HSM:CA) – FDA Breakthrough Device Designation for Stroke

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Wednesday, August 18, 2021

Helius Medical Technologies (HSDT)(HSM:CA)
FDA Breakthrough Device Designation for Stroke

Helius Medical Technologies is a neurotech company focused on neurological wellness. The Company’s purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. The Company’s first commercial product is the Portable Neuromodulation Stimulator (PoNSTM). For more information, visit www.heliusmedical.com.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    FDA Breakthrough Designation. Yesterday, Helius announced that it received Breakthrough Designation from the U.S. Food and Drug Administration (“FDA”) for its PoNS device with the proposed indication for use as a temporary treatment of dynamic gait and balance deficits due to symptoms from stroke. It is to be used as an adjunct to a supervised therapeutic exercise program in patients 22 years of age and over. Helius will utilize the Breakthrough Devices Program to facilitate its pursuit of U.S. regulatory clearance for treatment of stroke-induced symptoms.

    What is Breakthrough Designation? The Breakthrough Devices Program is a voluntary program for certain medical devices and device-led combination products that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions.  The goal of the Breakthrough Devices Program is to provide patients and health care providers with timely access to …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Stem Holdings Inc. (STMH)(STEM:CA) – Moving Forward With the Farm-to-Home Strategy Reports 3Q21 Results

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Wednesday, August 18, 2021

Stem Holdings, Inc. (STMH)(STEM:CA)
Moving Forward With the Farm-to-Home Strategy; Reports 3Q21 Results

Stem Holdings Inc is engaged in the purchasing, improving, and leasing of properties and finance assets which are operated by third parties and are used for the cultivation and retail sale of marijuana. Its properties includes 42nd Street, and Mulino Farm which are used for agriculture. The company generates its revenue in the form of rental income from tenants.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    3Q2021 Results. Stem reported third quarter record gross sales of $12.4 million and net sales of $10.6 million, a 104% increase and 103% increase, respectively, over the prior year’s $6.1 million gross sales and $5.2 million net sales. Gross margin was 14%, compared with 34% in the prior year period, due to reclassification of expenses. We had forecast net revenue of $12.75 million.

    Positive EPS, But.  Stem recorded net income of $2.7 million in the third quarter, or EPS of $0.01. This compares to a loss of $826,000, or a loss of $0.01 per share, in the same period last year. The positive net income was the result of a $6.4 million change in fair value of warrant liability. Excluding the warrant liability gain, we estimate Stem would have reported a net loss of $3.8 million in …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Kratos Announces Continued Product Growth Supporting Virtualized Satellite Ground Systems

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Kratos Announces Continued Product Growth Supporting Virtualized Satellite Ground Systems with Q2 Sales of OpenSpace quantum and SpectralNet Products

 

SAN DIEGO, 
Aug. 18, 2021 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that in the second quarter of 2021 it delivered products supporting the satellite industry’s movement toward dynamic, virtualized ground systems to 23 customers around the globe. These included products in Kratos’ quantum® and SpectralNet® lines, both of which are part of its OpenSpace™ family of dynamic, virtual ground solutions.

Kratos’ OpenSpace quantum products offer software versions of satellite ground system components which traditionally have been implemented as hardware, such as modems and front-end processors (FEP), needed to communicate with the satellite or its payload. Kratos’ OpenSpace quantum products have been supporting satellite operators around the globe in tens of thousands of satellite passes per month.

Kratos’ OpenSpace SpectralNet products provide the on-ramp to modern virtual ground operations by reliably digitizing the Radio Frequency (RF) signals from the satellite into an Internet Protocol (IP) format that can be processed by digital systems running in cloud, on-prem and hybrid environments.

Sales of quantum and SpectralNet products in Q2 included international commercial customers as well as support for key 
U.S. defense and intelligence programs and government projects for other nations. Seven new customers bought products in the OpenSpace family in Q2 as well as 16 returning customers purchasing additional quantum and SpectralNet units.

According to Kratos Vice President of Space System Sales,  Mike Smith, “The OpenSpace quantum and OpenSpace SpectralNet product lines continue to make headway among satellite operators and communications service providers seeking to capitalize on the capabilities of virtual network environments to transform these critical operations. Even classified government programs have recognized the reliability and security of OpenSpace products.”

OpenSpace quantum products (referred to as Virtual Network Functions or VNFs) are not only less expensive than the hardware they replace, they operate at lower cost and with greater scalability to adapt more rapidly to changing missions and conditions. For example, where it can take weeks to deploy traditional ground system hardware, quantum VNFs can be deployed and configured to support different missions in just hours. Kratos’ OpenSpace Platform, the most advanced line in the OpenSpace family, can go even further, enabling satellite operators to deploy, configure and adapt entire networks in just minutes using its orchestrated software-defined network (SDN) architecture.

For more information on Kratos’ OpenSpace family of dynamic ground solutions including OpenSpace quantum and SpectralNet products, as well as the OpenSpace Platform, visit https://www.kratosdefense.com/openspace.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended 
December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the 
SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Release – Comtech Telecommunications Corp. Awarded $4.7 Million Contract with Channel Partner

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Comtech Telecommunications Corp. Awarded $4.7 Million Contract with Channel Partner

 

MELVILLE, N.Y.–(BUSINESS WIRE)–Aug. 18, 2021– 
August 18, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today, that during its fourth quarter of fiscal 2021, it was awarded a contract valued at up to 
$4.7 million with a channel partner to supply new releases to messaging application software for a 
U.S. tier-one mobile network operator.

“This long-time customer has depended on 
Comtech for reliable messaging services for decades,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp. “These software release updates will ensure their end users are provided with exceptional performance and consistent world class messaging services for the next two years.”

The contract was awarded to Comtech’s Trusted Location group, a leading provider of precise device location, mapping and messaging solutions for public safety, mobile network operators, and enterprise solutions. Sold around the world to mobile network operators, government agencies, and Fortune 100 enterprises, our platforms locate, map, track and message. For more information, visit www.comtechlocation.com.

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions to customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.

Will Investors Keep Reducing Leverage?

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	Image Credit: Nenad Stojkovic (Flickr)


After Screaming Higher, Leverage Suddenly Came Down $38 Billion

 

Margin debt fell by $38 billion from its historic high in June. This is the first dip since March 2020, and this move may have implications for the market. The data, which is released monthly by FINRA, is the only official measure of leverage available to investors. So, these are the only stats available from which to draw any conclusion. There are, of course, other non-broker forms of leverage. These include borrowing against an asset (i.e.: home equity) or personal credit (i.e.: opening an account with a Visa card) to security purchases.

The FINRA statistics are collected as per FINRA Rule 4521(d). They are numbers provided by the member firms that offer margin accounts for customers. The report includes the total of all debit balances in securities margin accounts, and the total of all free credit balances in cash accounts and all securities margin accounts.

The Numbers

From an all-time high in June, margin debt fell $38 billion. This took it back down to a level it had attained after March 2021, but before the end of April. For 15 months through the month of June, leverage in securities portfolios overall was climbing at an excessive pace (84%). The rise in market prices is likely to have been largely fueled during this period by the growth in debt-financed purchases.

 

Data Source: FINRA

 

Increasing leverage has turned out to have not been a bad move for account holders, the markets are up significantly since March 2020. During the period, the Fed’s policies of interest rate suppression and yield curve control helped to reduce the cost of money and held it low. Investors, some for the first time, waved in as much stock as they could, enjoyed the results, and then added even more to their holdings. The nature of additional margin buying is that it helps drives up prices. Higher prices give account holders more collateral that can then be leveraged further. It’s a known accelerator of price movement. It also drives up risks — long periods of dropping margin debt can be associated with sell-offs as accounts unwind stocks held with borrowed money.

Should Investors be Cautious?

One might suggest investors always exercise prudence and caution; however, one data point is not a trend. Investors should check back on margin debt when the August numbers are released in mid-September. If a trend is developing, it may alter the strength of the market. The decline may very well be a summer pause in trading activity and a one-off number to ignore. 

Take-Away

Easy money and available leverage help to finance higher asset prices. This includes everything from stocks, to real estate, and to some extent even used cars.

Should money become much tighter, or the market falter, the same forces that assisted higher market prices, could reverse themselves. This is just one input into what drives the overall equity markets, investors would be wise to follow any larger trend. 

Registering for daily emails from Channelchek is one way investors follow news and research not found on other sites — Register free now.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:



Margin Debt Increases are Eye-Popping

The Beginning of the Road for Gold?





COLA Increases for Seniors in 2022 Will Likely Top $68 Billion

Why the Smart Money is the Individual Investor in 2021

 

Sources:

https://www.finra.org/investors/learn-to-invest/advanced-investing/margin-statistics

 

Stay up to date. Follow us:

 

Palladium One Mining Inc. (NKORF)(PDM:CA) – No Shortage of Stock Catalysts on the Horizon

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Wednesday, August 18, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
No Shortage of Stock Catalysts on the Horizon

Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Corporate update. Palladium One provided an update on exploration progress at its LK PGE-Cu-Ni project in Finland and Tyko Cu-Ni project in Ontario, Canada, along with expected milestones during the next several months. In its most recent corporate presentation, the company has laid out its objectives and milestones through 2026.

    Updated resource estimates and PEA.  At the LK project, resource definition drilling at Kaukua and the western part of Kaukua South is expected to wrap up in mid-September. Management expects to complete updated NI 43-101 compliant resource estimates for the Haukiaho zone during the third quarter, and for the Greater Kaukua area in December 2021/January 2022. A preliminary economic assessment is …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Kratos Announces Continued Product Growth Supporting Virtualized Satellite Ground Systems with Q2 Sales of OpenSpace quantum and SpectralNet Products

Posted on by Admin

 


Kratos Announces Continued Product Growth Supporting Virtualized Satellite Ground Systems with Q2 Sales of OpenSpace quantum and SpectralNet Products

 

SAN DIEGO, 
Aug. 18, 2021 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that in the second quarter of 2021 it delivered products supporting the satellite industry’s movement toward dynamic, virtualized ground systems to 23 customers around the globe. These included products in Kratos’ quantum® and SpectralNet® lines, both of which are part of its OpenSpace™ family of dynamic, virtual ground solutions.

Kratos’ OpenSpace quantum products offer software versions of satellite ground system components which traditionally have been implemented as hardware, such as modems and front-end processors (FEP), needed to communicate with the satellite or its payload. Kratos’ OpenSpace quantum products have been supporting satellite operators around the globe in tens of thousands of satellite passes per month.

Kratos’ OpenSpace SpectralNet products provide the on-ramp to modern virtual ground operations by reliably digitizing the Radio Frequency (RF) signals from the satellite into an Internet Protocol (IP) format that can be processed by digital systems running in cloud, on-prem and hybrid environments.

Sales of quantum and SpectralNet products in Q2 included international commercial customers as well as support for key 
U.S. defense and intelligence programs and government projects for other nations. Seven new customers bought products in the OpenSpace family in Q2 as well as 16 returning customers purchasing additional quantum and SpectralNet units.

According to Kratos Vice President of Space System Sales,  Mike Smith, “The OpenSpace quantum and OpenSpace SpectralNet product lines continue to make headway among satellite operators and communications service providers seeking to capitalize on the capabilities of virtual network environments to transform these critical operations. Even classified government programs have recognized the reliability and security of OpenSpace products.”

OpenSpace quantum products (referred to as Virtual Network Functions or VNFs) are not only less expensive than the hardware they replace, they operate at lower cost and with greater scalability to adapt more rapidly to changing missions and conditions. For example, where it can take weeks to deploy traditional ground system hardware, quantum VNFs can be deployed and configured to support different missions in just hours. Kratos’ OpenSpace Platform, the most advanced line in the OpenSpace family, can go even further, enabling satellite operators to deploy, configure and adapt entire networks in just minutes using its orchestrated software-defined network (SDN) architecture.

For more information on Kratos’ OpenSpace family of dynamic ground solutions including OpenSpace quantum and SpectralNet products, as well as the OpenSpace Platform, visit https://www.kratosdefense.com/openspace.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended 
December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the 
SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Stem Holdings, Inc. d/b/a Driven By Stem Announces Record Sales and Gross Margin for the Third Quarter

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Stem Holdings, Inc. d/b/a Driven By Stem Announces Record Sales and Gross Margin for the Third Quarter

 

BOCA RATON, Fla., Aug. 16, 2021 (GLOBE NEWSWIRE) — Stem Holdings, Inc. d/b/a Driven by Stem (OTCQX: STMH) (CSE: STEM) (the “Company” or “Stem“), the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company featuring a proprietary Delivery-as-a-Service (DaaS) marketplace platform, today reported results for the third fiscal quarter ended June 30, 2021. Stem reported third quarter record gross sales of US$12.4 million and net sales of US$10.6 million, a 104% increase and 103% increase, respectively, over the prior year’s US$6.1 million gross sales and US$5.2 million net sales. Gross margin improved 7.6% to 41.8%, reflecting improvements in productivity, mix, and synergies from the Company’s acquisition of Driven Deliveries, Inc.

“I am proud of our results, and of our team which is executing our robust four-point plan for growth,” stated Adam Berk, Chief Executive Officer. “We are building our footprint with a strong ongoing focus on cost reductions, operational excellence, and customer acquisition and retention to drive topline sales and margin improvement as we did this quarter,” he continued. “Most importantly, we are uniquely connecting our brands, products and delivery services with the cannabis community from Farm to Home™ for long-term stability. We expect to achieve longer-term benefits that will build value for our shareholders as we invest in organic and acquisitive growth,” Berk concluded.

Stem is also reporting a 19% increase in total dispensary sales, a significant outperform to market particularly in Oregon which grew at 7% in the same period. This reflects continuous improvement initiatives and emphasis on customer service. This effort dovetailed with the launch of the company’s Budee™ delivery platform in Oregon which occurred on August 9, 2021. A customized app was built from front-to-back for this official launch, and Budee™ is now anchored by Stem’s TJ’s on Powell dispensary servicing the Greater Metro Portland area. The Company expects that Budee™ will expand to cover the majority of Oregon beginning with the Eugene metro in October 2021. In addition, Budee™ continues to increase its penetration of the California delivery market where it originated. It now covers 92% of that state’s population particularly in areas where there is high demand and a low density of dispensaries.

Stem also expects to launch its first dispensary in Michigan in September 2021, which will be coupled with Budee™ delivery, as the next step in the Company’s “Get Ready” retail expansion strategy.

As Stem builds its Farm-to-Home™ infrastructure with vertical integration from cultivation to delivery, the Company has also invested in expanding its canopy for high-quality cannabis growth, particularly at its Mulino, Oregon farm and its newest facility in Springfield, Oregon. All five Stem cultivation facilities in Oregon are growing core and new genetics to delight customers and build loyalty. Stem’s extraction lab which now includes solventless extraction is supporting both Stem’s edibles and concentrates, two sectors that are both growing and margin-accretive. Stem’s products are now sold in over 240 dispensaries outside of Stem branded stores.

Stem will host a conference call to discuss the financial results on Tuesday, August 17, 2021 at 8:00 am as previously announced.

Conference Details

Management plans to host a conference call to discuss the financial results on Tuesday, August 17, 2021 at 8:00 a.m. EDT.


Date:
Tuesday, August 17, 2021

Time:
8:00 a.m. EDT

Dial-in:
1-877-425-9470 (U.S. Toll Free) or 1-201-389-0878 (International)

Conference ID:
13722361


Webcast:
A live webcast can be accessed via the following link: http://public.viavid.com/index.php?id=146252



A replay of the webcast will be archived on the Company’s website for one year.

About Stem Holdings

Stem Holdings is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem’s family of award-winning brands includes TJ’s Gardens™, TravisxJames™, and Yerba Buena™ flower and extracts; Cannavore™ edible confections; Doseology™, a CBD mass-market brand launching in late 2021; as well as DaaS brands Budee™ and Ganjarunner™ through the acquisition of Driven Deliveries. Budee™ and Ganjarunner™ e-commerce platforms provide direct-to consumer proprietary logistics and an omnichannel UX (user experience)/CX (customer experience).

Forward-Looking Statements 
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations.  When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to: (i) the implementation of the Company’s business plan; (ii) the expansion of Stem’s brands, retail footprint, delivery services and products into other markets, including Michigan; (iii) expected impact of the Company’s extraction lab; (iv) the expected launch of new brands and products by Stem; and (v) expected organic and acquisitive growth. 

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, insurance, intellectual property and reliable supply chains; and risks related to the Company and its business generally. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change.  Investors are cautioned against attributing undue certainty to forward-looking statements.

Stem Holdings 
Investor Relations Contact: 
KCSA Strategic Communications 
Valter Pinto or Elizabeth Barker 
+1 212.896.1254 or +1 212.896.1203 
valter@kcsa.com or ebarker@kcsa.com

Media Contact: 
Mauria Betts 
Director of Branding and Public Relations 
971.266.1908 
mauria@stemholdings.com

Stem Holdings, Inc. (STMH)(STEM:CA) – Moving Forward With the Farm-to-Home Strategy; Reports 3Q21 Results

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Wednesday, August 18, 2021

Stem Holdings, Inc. (STMH)(STEM:CA)
Moving Forward With the Farm-to-Home Strategy; Reports 3Q21 Results

Stem Holdings Inc is engaged in the purchasing, improving, and leasing of properties and finance assets which are operated by third parties and are used for the cultivation and retail sale of marijuana. Its properties includes 42nd Street, and Mulino Farm which are used for agriculture. The company generates its revenue in the form of rental income from tenants.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    3Q2021 Results. Stem reported third quarter record gross sales of $12.4 million and net sales of $10.6 million, a 104% increase and 103% increase, respectively, over the prior year’s $6.1 million gross sales and $5.2 million net sales. Gross margin was 14%, compared with 34% in the prior year period, due to reclassification of expenses. We had forecast net revenue of $12.75 million.

    Positive EPS, But.  Stem recorded net income of $2.7 million in the third quarter, or EPS of $0.01. This compares to a loss of $826,000, or a loss of $0.01 per share, in the same period last year. The positive net income was the result of a $6.4 million change in fair value of warrant liability. Excluding the warrant liability gain, we estimate Stem would have reported a net loss of $3.8 million in …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Skyborg Vanguard Takes Next Steps Toward Program of Record

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Skyborg Vanguard Takes Next Steps Toward Program of Record

 

Kratos and USAF Committed to Transitioning Skyborg to a Program of Record and Will Be Ready in 2023

SAN DIEGO, 
Aug. 17, 2021 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider announced today that it remains committed to be ready for a 2023 Skyborg Vanguard Program of Record, echoing the commitment expressed by the 
U.S. Air Force in its 
August 16, 2021 update on the Skyborg program (Skyborg Vanguard takes next steps toward Program of Record > Air Force Life Cycle Management Center > Article Display (af.mil)).  Skyborg is an autonomy-focused capability developed to enable the 
Air Force to operate and sustain low-cost, teamed aircraft that can thwart adversaries with quick, decisive actions in contested environments. The program aims to enable airborne combat mass by building a transferable autonomy foundation for a family of layered, unmanned air vehicles. As designed, this foundation will deliver unmatched combat capability per dollar by lowering the barriers to entry for industry and allowing continuous hardware and software innovation in acquisition, fielding and sustainment of critical mission systems. During this effort, AFRL will prototype a suite of autonomy and unmanned system technologies equipped with capabilities that can support a range of 
Air Force missions.

To fast track this game-changing capability, the 
U.S. Air Force designated Skyborg as one of three Vanguard programs in 2019. These priority initiatives integrate several technology components across multiple domains to create complex, multidisciplinary solutions. Marked by an enterprise-wide commitment, Vanguards deliver advanced capabilities that transform future operations with cutting-edge technologies. As autonomy technology matures, Skyborg will bring cutting-edge capabilities to the fight at a faster pace and lower cost.

Steve Fendley, Kratos Unmanned Systems Division President, said, “The Kratos approach to developing and delivering attritable unmanned jet aircraft directly aligns with the USAF objectives from digital engineering development to affordable mass to distributed lethality. The Kratos Valkyrie was ready for its first flight of the full-scale aircraft system (note we rarely experiment with subscale prototypes because for integrated aircraft systems, scalability is not linear and therefore results in additional cost and schedule) in under 30 months from initial concept. Our approach is a tailored version of digital engineering/digital development specifically designed to support rapid and affordable physical system development. The process consists of a cyclical succession of digital design and digital analysis combined with rapid prototyping of high-risk elements, supported with both conventional and company-developed life-cycle digital toolsets. The XQ-58A Valkyrie exemplifies both the approach and result; a true attritable (cost, operational methods, and performance) unmanned jet aircraft system uniquely applicable to the Skyborg Vanguard requirements. The Skyborg program requirements are for, ‘autonomous, low-cost platforms to enable expeditionary operations that can generate massed combat power with minimal logistical footprints. Our demonstrated success in developing affordable unmanned jet aircraft systems includes over 10 different aircraft types for a range of tactical and target applications. For the Valkyrie and its multiple program opportunities, we leaned forward with internal funds and established an initial production run of 12 aircraft systems. These aircraft are coming off the line this year and next. Our unique position as a mid-tier system provider enables us to take these more commercial (versus conventional defense primes) approaches which benefit the 
DoD and demonstrate the speed that is achievable through leveraging the 
Silicon Valley approach to technology and system development.”

Eric DeMarco, Kratos President and CEO, said, “Kratos remains committed to supporting our partner’s, the 
United States Air Force, objective of transitioning Skyborg to a Program of Record in 2023 with the XQ-58 Valkyrie. Primary stated requirements for Skyborg Program Drones include runway independence, affordability, and that the actual to be fielded aircraft exists today, are not surrogates and will execute flights under the program this year, not at some future date. Kratos is currently satisfying the complete requirement set. We believe that Kratos’ demonstrated and proven ability to rapidly develop, demonstrate, and manufacture large quantities of high-performance jet drones at an affordable cost is consistent with our customer’s stated vision, and our entire organization is focused on successfully executing the mission.”

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information, please visit www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.