Surna Inc (OTCMKTS:SRNA) has set a new record higher in Q3 2019 revenues. It has posted revenues of $five.five million in Q3, an enhance of 66% when compared to the similar quarter final year. It is on the backdrop of income realization of $three.9 million from two expansion contracts executed with a multi-facility operator in the final quarter.
Chief Executive Officer of Surna, Tony McDonald, mentioned the firm is excited to report record earnings and revenues consecutively in the second straight quarter. It will concentrate on profitability and development going forward to present wealthy dividends to the shareholders.
Indicators seven handle contracts
Surna is pleased to announce the signing of agreements for controls, Sentry IQ sensors, and automation platforms in Q3 2019, with two multi-facility operators for $218,000. The firm also entered the other two agreements worth $295,000 for controls with independent cultivators. Surna strengthens its footprint in the automation and technologies advancement of the indoor development facility by enhancing controls business enterprise. The firm has signed a total of seven handle contracts valued at $687,000 via September 2019.
Custom ducted air handling technique
Surna is pleased to provide a custom ducted air handling technique in June 2019. It acts as a substitute for enhanced and new ductless fan coil units. The capability to provide higher capacity air handling systems expects to bring in new possibilities for the firm from multi-facility operators. Surna derived revenues of $two.27 million following it signed sales contracts for ducted air handling systems via September 2019.
Identifies business enterprise verticals
Surna expects to complement its climate handle business enterprise that comprises cultivation management technologies, fertigation, lighting, operational improvement analytics, and benches via its currently identified business enterprise verticals. The firm will rope in firms aligned with its strategic path to enter alliances in co-advertising and marketing, reseller, distribution, and solution improvement.
Strategic agreements may possibly turn out to be acquisition targets in the future. Surna expects to sustain operating profitability (money) regularly via the infusion of development equity, acquisitions, and execution of the development strategy. It plans to get listed on NASDAQ in 2021.
Introduces objective-constructed fan coil solutions
Surna introduced a comprehensive objective-constructed fan coil solution line in August 2019. They uncover usage in ductless and ducted operations for massive to compact indoor cannabis facilities for industrial use.