Dalrada Corporation (OTCQB:DFCO), which offers services and products in climate, technology and health, has reported a 252% increase in revenue in its third quarter compared to the year-ago period.
The group, whose divisions include Dalrada Health and Dalrada Technologies, said revenue in the three months to end-March was $5.6 million, up from $1.58 million in Q3, fiscal 2021.
The uplift was mainly due to the firm's COVID-19 testing segment and the sale of its Likido ONE and LikidoCRYO products, the company said.
"Dalrada's innovations are making a positive impact in the top growth markets of clean energy, healthcare, and technology. We look forward to sharing more about Dalrada's progress," said Brian Bonar, Dalrada's CEO, in a statement.
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Among the highlights of the third quarter were Dalrada Health's completion of the second clinical trial of its cerVIA visual inspection with acetic acid (VIA) standardized test kits in India and the increase of availability of the group's portfolio products and services.
Its Likido ONE heat pumps were also validated by the US General Services Administration and Department of Energy's Green Proving Ground program for use in federal buildings to accelerate the US's net-zero sustainability initiatives.
In addition, the newly-established Dalrada Energy Services division developed a business model that resulted in five contracts with mid and large-sized facilities/buildings by providing energy-saving services that use various technologies, including Dalrada's Likido products, which may lead to an influx of revenue and profit during the remainder of the fiscal year, the company said.
"Dalrada has completed multiple contracts related to Dalrada Energy Services and anticipates revenue to arrive within a short period of time," it added.
"Additionally, Dalrada is actively managing significant opportunities outside its core businesses and expects further increased revenues and shareholder value during the remainder of the fiscal year."
Established in 1982, Dalrada Corp says it drives innovation that "positively impacts people, businesses, and the planet".
With subsidiaries that are positioned in the world's top three-growing industries of healthcare, clean energy, and technology, Dalrada creates solutions that are sustainable, affordable, and accessible.
Contact the writer at giles@proactiveinvestors.com