Revenue Performance - Total revenue for the three months ended June 30, 2021, was $62.1 million, a significant increase of $56.7 million or 1050% compared to $5.4 million in the same period of 2020[196] - Revenue from cryptocurrency mining was $291,000, while revenue from lending and trading activities reached $53.3 million, marking a dramatic increase of 156788% compared to a loss of $34,000 in the prior year[196] - Total revenue for the six months ended June 30, 2021, was $75.4 million, a 585% increase from $11.0 million in the same period of 2020[218] - Revenue from lending and trading activities for the six months ended June 30, 2021, was $58.5 million, compared to $2,000 in the same period of 2020, marking a dramatic increase[219] - Revenues from lending and trading activities increased to $58.5 million for the six months ended June 30, 2021, compared to $2,000 for the same period in 2020, driven by significant capital allocation from recent equity financing[222] Profitability - Gross profit for the three months ended June 30, 2021, was $55.9 million, compared to $1.9 million in the same period of 2020[194] - Gross margins increased to 89.9% for Q2 2021, compared to 37.1% in Q2 2020, influenced by favorable margins from lending and trading activities[202] - Gross margins rose to 84.9% for the six months ended June 30, 2021, up from 33.2% in the same period of 2020, influenced by favorable margins from lending and trading activities[224] - Net income attributable to Ault Global Holdings for the three months ended June 30, 2021, was $42.2 million, compared to a net loss of $1.4 million in the same period of 2020[194] - Net income for Q2 2021 was $42.2 million, a significant improvement from a net loss of $1.4 million in Q2 2020[212] - Net income for the six months ended June 30, 2021, was $44.2 million, a significant improvement from a net loss of $7.9 million in the same period of 2020[234] Expenses - Operating expenses totaled $10.0 million for the three months ended June 30, 2021, compared to $2.7 million in the same period of 2020[194] - Research and development expenses rose by $69,000 to $531,000 for Q2 2021, primarily due to costs related to electric vehicle charger product development[203] - Selling and marketing expenses surged to $1.5 million for Q2 2021, up 410% from $295,000 in Q2 2020, driven by increased personnel costs and digital marketing efforts[204] - General and administrative expenses increased to $8.0 million for Q2 2021, compared to $2.9 million in Q2 2020, largely due to a $2.9 million performance bonus accrual and costs from the acquired Relec[205] - Research and development expenses increased by $230,000 to $1.1 million for the six months ended June 30, 2021, primarily due to costs related to electric vehicle charger product development[225] - Selling and marketing expenses surged to $2.7 million for the six months ended June 30, 2021, a 334% increase from $633,000 in the same period of 2020, attributed to increased personnel costs and digital marketing efforts[226] - General and administrative expenses rose to $13.1 million for the six months ended June 30, 2021, compared to $5.8 million in the same period of 2020, with a significant portion due to a $2.9 million performance bonus accrual[227] Cash Flow and Investments - Cash and cash equivalents increased to $105.4 million as of June 30, 2021, up from $18.7 million at December 31, 2020, primarily due to financing activities related to the 2021 ATM offering[236] - Net cash used in investing activities was $29.7 million for the six months ended June 30, 2021, compared to $152,000 for the same period in 2020, reflecting various acquisitions and investments[236] - Net cash provided by financing activities was $138.1 million for the six months ended June 30, 2021, compared to $3.6 million in the same period of 2020, mainly from proceeds of the 2021 ATM offering[239] Acquisitions and Investments - The company acquired a Michigan Cloud Data Center for $3.9 million, enhancing its operational capacity[183] - Ault Global invested $10 million in Alzamend Neuro, Inc., with a focus on achieving FDA approval for its lithium-based therapy[184] - Gresham Worldwide (GWW) revenues increased by $2.3 million or 55% to $6.5 million, including $1.7 million from the acquisition of Relec[197] - Coolisys revenues increased by $586,000 or 47% to $1.8 million, attributed to prior year disruptions due to COVID-19[198]
Ault Alliance(AULT) - 2021 Q2 - Quarterly Report