Scientific Learning Corporation a software-as-a-service provider that delivers neuroscience-based educational technologies, has announced a second-quarter 2019 net loss of $903,000, compared to a net loss of $62,000 reported for Q2 last year.
Quarterly revenue was $3.3 million, down from $4 million reported for the second quarter of 2018.
The Oakland, California-based company also reported results for the first six months of 2020. Its net loss for the period was $1.4 million, compared to a net loss of $103,000 reported for the first six months of 2018. Revenue for the six-month period was $7.1 million, down from 8.1 million reported for the first six months of 2019.
Scientific Learning chief executive Jeff Thomas said: “Obviously, we are in an unprecedented chapter in US history. K12, our most important customer segment, has been working to deliver education against a Covid backdrop since March, which is leading our company to pivot, adapt and be resourceful as well. Sales in Q2 were a roller coaster, and we found our stride in June, with our highest June sales month in four years. We look forward to working to continue this momentum in Q3 when we launch our first market-expanding product component since 2012, manage a lead pool that is 30% higher than a year ago, and provide a great learning tool for remote students. As always, we appreciate the continued support of our shareholders.”
Date published: 14 August 2020