Book Online or Call 1-855-SAUSALITO

Sign In  |  Register  |  About Sausalito  |  Contact Us

Sausalito, CA
September 01, 2020 1:41pm
7-Day Forecast | Traffic
  • Search Hotels in Sausalito

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

DataSea (NASDAQ: DTSS) Surges Over 600% After Reporting Steller Fiscal Second Quarter Financial Results Showing a 13,766% Y/Y Jump in Revenue

DataSea, Inc. (NASDAQ: DTSS) is captivating investors, as shares surge over 600% through early afternoon trading on Wednesday, February 14, 2024. Shares of the global technology company closed at $1.47 per share on February 13, 2024, before opening on the 14th at $10.60 and hitting a high of over $20.00. As of this writing, shares are trading around $10.57, which represents a 619% surge from yesterday’s close.

The stock’s volume is equally impressive with its price appreciation. Over the past three months, DataSea has seen average daily volume of around 69,650 shares. However, over 77.62 million shares, or a dollar volume of around $820.44 million, have already exchanged hands through early afternoon trading.

Why Are Shares of DataSea Surging? 

DataSea is a global tech company specializing in intelligent acoustics technology and 5G multimodal communication, reported a significant increase in its financial performance for the second quarter ended December 31, 2023. The company achieved a revenue of approximately $11.3 million for the quarter, contributing to a total first-half revenue of $18.2 million for fiscal Q2 2024. This marks a monumental growth from the previous year, with revenues increasing by 13,766.8% over the same period last year, mainly attributed to its leadership in 5G multimodal communication technology and an expanded customer base in China.

Under the leadership of CEO Zhixin Liu, DataSea has also ventured into air sterilization products, leveraging its expertise in acoustic intelligence embedded with AI for both business and consumer applications. This move aligns with the global demand for healthy living solutions post-pandemic. The company’s efforts in market promotion, customer support, and technological innovation have significantly contributed to its financial success.

Administrative Expenses Decreased, Collecting Receivables Faster, and Expanding Global Operations

DataSea’s operational efficiency is evident from the reduction in administrative expenses by 24.8% compared to the previous year and a significant decrease in accounts receivable by 78.8%, showcasing improved management efficiency.

The company has emphasized its strategic growth through the development and promotion of acoustic intelligence products, having launched air sterilizer products in China and planning to expand its operations into the US market. With the establishment of Datasea Acoustics LLC in Delaware, USA, in July 2023, DataSea is poised to introduce its ultrasonic air sterilizers, odor removal products, and other innovative solutions to the US and global markets.

DataSea’s marketing strategies include seeking long-term contracts and collaborations internationally, highlighted by a cooperation agreement with Meglio Interiors LLC to promote its intelligent acoustics products in the US. The company’s technological collaborations, particularly in ultrasound and infrasound technology, with renowned research institutions and universities aim to sustain its leadership in intelligent acoustics solutions.

Furthermore, the acquisition of US patents is a strategic move to protect DataSea’s innovations and intellectual property, ensuring its competitive edge in the market. In the realm of 5G multimodal communication, DataSea continues to expand its product portfolio and customer base, evidenced by significant agreements with new clients, contributing to a service contract worth approximately $10.49 million.

DataSea’s comprehensive approach to technological innovation, market expansion, and operational efficiency has positioned it for continued growth in intelligent acoustics and 5G multimodal communication, both in China and internationally.

Disclosure: Neither Matt Rego nor Spotlight Growth have any position or relationship with any companies mentioned in this article. No payment was made to create this article. This article should not be taken as a solicitation or recommendation to buy or sell any securities. Please conduct your own research and consult your financial advisor to determine your risk tolerance and investment path. We are not licensed brokers or investment advisors.

The post DataSea (NASDAQ: DTSS) Surges Over 600% After Reporting Steller Fiscal Second Quarter Financial Results Showing a 13,766% Y/Y Jump in Revenue appeared first on Spotlight Growth.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photos copyright by Jay Graham Photographer
Copyright © 2010-2020 Sausalito.com & California Media Partners, LLC. All rights reserved.