Dalrada Corporation (OTCMKTS:DFCO) Stock Falls After Quarterly Earnings

Dalrada Corporation (OTCMKTS:DFCO) is a United States based company with worldwide operations that are focussed on the development and delivery of innovations in the clean energy sector, advanced technology, reimagined healthcare and high precision manufacturing among others.

Trading Data

On Tuesday, DFCO stock lost 17.22% to $0.0745 with more than 386.82K shares, compared to its average volume of 143.88K shares. The stock moved within a range of $0.0620 – 0.0900 after opening trading at $0.0900.

The company announced its financial results for the fiscal quarter that ended on March 31, 2023 yesterday and revealed that it had managed to bring in $9.5 million in the form of revenues. That worked out to a sequential rise of as much as 80% from revenues that it had generated in the quarter than ended on December 31, 2022.

There were other major highlights as well which investors ought to be aware of. The company’s gross margins went up by $0.6 million, which represented a sequential rise of 25% and the sales, general and administrative expenses went down by $0.6 million or 8% from the previous quarter.

The operating losses suffered by Dalrada went down by 24% on a sequential basis to $1.1 million. At the end of March 31, 2023, the company had also managed to create a backlog of potential orders pegged at $86 million. It was a strong performance from the company and may well be a good time to track the Dalrada stock.