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Mar 31, 2021
NXT-ID Q1 2021 Earnings Report
Nxt-ID Announces Investor Webcast to Discuss the Financial Results for the Three Months Ended March 31, 2021 and to Provide a General Corporate Update.
Key Takeaways
Nxt-ID, Inc. announced its financial results for the three months ended March 31, 2021, revealing a positive trend and rebound in markets as customers resumed pre-pandemic ordering levels. The company also made significant term debt repayments of approximately $8.8 million, expected to save approximately $1.1 million in annual cash interest expense.
First quarter 2021 operating results reflected a positive trend and rebound in markets.
Customers that had been reluctant to commit to larger purchases during the COVID-19 pandemic during 2020 began ordering at pre-pandemic levels.
The company made significant term debt repayments of approximately $8.8 million thus far in 2021.
The debt repayments will save the company approximately $1.1 million in cash interest expense on an annual basis.