Creatd, Inc. (CRTD), a technology company, has surged 8.56% in aftermarket trading session and was trading at $3.17 at the time of the writing. On Thursday, CRTD closed the day at $2.92 after increasing 6.57% during regular trading hours. The announcement regarding the debut of the camp’s website redesign is perceived to be the prime mover behind this increase.
Measures to improve Camp
On Thursday, CRTD debuted an updated packaging of the Camp (formerly called Plant Camp). Camp is the direct-to-consumer healthy food brand that is incubated under the company’s eCommerce branch, Creatd Ventures. Apart from launching the new website, Camp also announced the addition of two new products to its line of easy-to-make and good-to-use dishes. These products include Vegan Cheezy Mac and Twist Veggie Pasta. Camp launched in 2020 a fresh and healthy take on mac and cheese, which combined organic and plant-packed ingredients with a superb mac and cheese taste. The addition to the company’s product line has been created in a similar pattern. Camp intended to continue the innovation of new product offerings as well as pursue the expansion of its distribution beyond direct-to-consumer e-commerce to eventual placement at big-box retailers.
Q2 2021 financial results
On 13th August, CRTD reported the financial results for the second quarter of the fiscal year 2021 which ended on 30th June. The company had cash and cash equivalents of $2.12 million on 30th June. The total assets in possession of the company were $6.60 million at the time, while the total liabilities were $7.05 million. The net revenue generated by the company during the period was $0.97 million against $0.32 million for the same period of 2020. The gross margin for the period was $0.97 million against $0.32 million for the same period of 2020. The total operating expenses for the three months were $9.35 million against $3.85 million for the same period of 2020. The company suffered a loss of $8.38 million from operations against $3.53 million for the same period of 2020. The net loss for the three months was $8.56 million against $4.14 million for the same period of 2020. The net loss per basic and diluted share for the period was $0.81 against $1.30 for the same period of 2020.
What’s next for CRTD?
Statistics reveal that during the last three months, CRTD has declined more than 10%. For analysts, however, the times ahead seem to be positive ones, with an ever-growing business. Hence, potential investors should keep a close eye on fluctuations of CRTD.
