Evolving Systems Inc. (EVOL) stock surged in the after-market session on Wednesday, March 17, 2021, after EVOL stock announced its financial results for the fourth quarter and full-year ended December 31, 2020. The EVOL stock raised 24.92% in the extended trading session.
- The EVOL total revenue was $7.0 million in the fourth quarter ended December 31, 2020.
- Operating income of $0.5 million and net income of $0.6 million for the fourth quarter were reported.
- The EVOL spent $4.1 million in operating expenses for the reported quarter.
- EVOL revenue was $26.4 million for the entire year ended December 31, 2020
- Gross profit margins for the entire year were 66.5%, excluding depreciation and amortization,
- The Evolving Systems spent $16.5 million for the year ended December 31, 2020
- For both primary and diluted shares, netearnings per share were $0.05 for the reported year.
- EVOL made an operating profit of $1.0 million and net income of $0.6 million for the year ended December 31, 2020, compared to an operating loss of $7.9 million and net losses of $9.7 million for the year ended December 31, 2019.
- Adjusted EBITDA was $2.4 million for the full year 2020.
- EVOL sStock had cash and cash equivalents of $2.8 million as of December 31, 2020.
About the EVOL
Evolving Systems, Inc. was founded in 1985, and EVOL has its headquarters in Englewood, Colorado, with offices in Asia, Europe, Africa, South, and North America. EVOL is a real-time digital engagement accelerator with 100+ customers across five continents. EVOL Stock is home to 280+ marketers. It provides services such as CSP market-leading solutions and services for network provisioning and resource management, enhancing the digital sales and distribution channels, service activation, real-time analytics.