Revenue up 20% and Gross Profits up 87% over Q2, while operating losses narrowed.
Clearwater, FL – November 18, 2021 – OriginClear Inc. (OTC Pink: OCLN), a leading corporation in the self-reliant water revolution that develops outsourced pay-per-gallon programs, announced today that revenues and gross profits for the Third Quarter of 2021 improved significantly over the Second Quarter, while operating losses narrowed.
The company reported the following highlights from its recent quarterly report.
Third Quarter 2021 over Second Quarter 2021:
- Revenue improved by 20% to $1,120,687 compared to $931,422.
- Gross Profit improved by 87% to $330,351 compared to $176,500.
- Cost of Sales grew by 5% to $790,336 compared to $754,922.
- Operating Losses narrowed to $(1,323,074) compared to $(1,929,679).
Third Quarter 2021 over Third Quarter 2020:
- Revenue improved by 22% to $1,120,687 compared to $917,320.
- Gross Profit improved to $330,351 compared to $(17,388).
- Cost of Sales improved by 15% to $790,336 compared to $934,708.
- Operating Losses grew to $(1,323,074) compared to $(1,183,722).
“The growth of our conventional business is wonderful news,”, said Tom Marchesello, OriginClear COO. “And now with the launch of our Water On Demand pre-funded water equipment program, we believe that the year ahead is promising.”
About OriginClear Inc.
OriginClear leads the self-reliant water revolution, democratizing water investment by developing a marketplace to connect investors with water projects; and commercializing modular, prefabricated, filter-free advanced systems for faster sanitation worldwide. With America’s broken infrastructure and 100 billion dollars of government spending to fix the nation’s 150,000-plus water systems, OriginClear is helping them “cut the cord”, by developing outsourced pay-per-gallon programs and a future digital currency to streamline payments. Our line of Modular Water products and systems is key to the self-reliant water treatment revolution as they create “instant infrastructure” – fully engineered, prefabricated and prepackaged systems that use durable, sophisticated materials.
To learn more about OriginClear®, please visit our website at www.originclear.com.
OriginClear Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements. When used in this release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein.
These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization, and if or when the Company will receive and/or fulfill its obligations under any purchaser orders. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable laws.