Business & Finance
Sonoma Pharmaceuticals incurs 75% lower net loss of USD2.9m for fiscal 2020; Provides update of virucidal and disinfectant technology for use against COVID-19
13 July 2020 -

Healthcare company Sonoma Pharmaceuticals Inc (Nasdaq:SNOA) stated on Friday its net loss of USD2.9m for fiscal year 2020.

This marks a decline of USD8.9m (75%) when compared with a higher net loss of USD11.8m in the same period last year.

EBITDAS loss was USD5.5m for fiscal 2020, a dip 40% over an EBITDAS loss of USD9.2m for the same period last year.

Total revenues of USD18.9m were collected for the year ended 31 March 2020, a fall by USD34,000 from total revenues of USD19.0 for the year ended 31 March 2019.

The company added that the COVID-19 pandemic has increased worldwide demand for its virucidal and disinfectant technology and its partner MicroSafe Group, Dubai and MicroSafe Care Australia have both received approval for their patented and trademarked Nanocyn Disinfectant & Sanitizer, which is manufactured by Sonoma using its patented Microcyn Technology, for use against SARS-CoV-2.