The following are recent financial reports as posted by selected Utah corporations:
PROG
PROG Holdings Inc., based in Salt Lake City, reported net earnings of $40.8 million, or 60 cents per share, for the fourth quarter ended Dec. 31. That compares with a net loss of $107 million, or $2.06 per share, for the same quarter a year earlier.
Revenues in the most recent quarter totaled $605.7 million, up from $568.7 million in the year-earlier quarter.
For the full year 2020, the company reported a net loss of $61.5 million, or 90 cents per share, which compares with net earnings of $31.5 million, or 47 cents per share, in 2019.
Revenue in 2020 totaled $2.49 billion, up from $1.16 billion in 2019.
PROG is a financial technology holding company operating Progressive Leasing, a provider of virtual in-store, e-commerce and app-based point-of-sale lease-to-own solutions, and Vive Financial, an omni-channel provider of second-look revolving credit products.
“Our Progressive Leasing segment delivered record revenue, earnings before taxes, and adjusted EBITDA for the fourth-quarter period, in spite of challenges posed by the pandemic,” Steve Michaels, CEO, said in announcing the results.
“During our first quarter as a stand-alone fintech company, the PROG team provided exceptional service to our customers and point-of-sale retail partners while also completing the spin-off of our former Aaron’s Business segment. We continued to navigate challenging economic conditions, as changes in customer behavior, supply chain disruptions and broader economic uncertainty negatively impacted gross merchandise volume (GMV) in the period.
“During 2021, we expect to achieve strong GMV growth by expanding our e-commerce business and driving increased sales for our existing and new point-of-sale retail partners.”
Overstock.com
Overstock.com Inc., based in Salt Lake City, reported net income attributable to stockholders of $12.6 million, or 26 cents per share, for the fourth quarter ended Dec. 31. That compares with a loss of $27 million, or 73 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $684 million, up from $370.9 million for the year-earlier quarter.
For the full year 2020, the company reported net income of $56 million, or $1.24 per share, which compares with a net loss of $121.8 million, or $3.46 per share, for 2019.
Revenue in 2020 totaled $2.55 billion, up from $1.46 billion in 2019.
Overstock.com is an online retailer and technology company.
“Overstock had an incredible year in 2020,” Jonathan Johnson, CEO, said in announcing the results. “The operational improvements we began making at the end of 2019 enabled us to benefit from this unprecedented environment in which we all find ourselves increasingly working, learning and living in our homes."
Johnson said the company “accomplished what we set out to do at the beginning of the year. We delivered on our 2020 initiatives; these initiatives had a meaningful impact on our business performance and now have become part of our business as usual. We doubled new customers, driving significant revenue growth. We improved margins and delivered profitability. We significantly upgraded our leadership team. We added key independent directors to our board. We were focused, disciplined and strategic in our decisions and actions. And we’re just getting started.”
Merit Medical
Merit Medical Systems Inc., based in South Jordan, reported net income of $15.4 million, or 27 cents per share, for the fourth quarter ended Dec. 31. That compares with a net loss of $4.2 million, or 8 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $258 million, flat with a year earlier.
For the full year 2020, the company reported a net loss of $9.8 million, or 18 cents per share, which compares with net income of $5.5 million, or 10 cents per share, for 2019.
Revenue in 2020 totaled $963.9 million, down from $994.9 million in 2019.
The company manufactures and markets proprietary disposable medical devices used in interventional, diagnostic and therapeutic procedures.
“We delivered fourth-quarter revenue results above the high end of our guidance range, increasing 6 percent quarter-over-quarter as reported, despite the challenging operating environment and slower-than-expected pace of recovery from the COVID-19 pandemic in many of our primary markets around the world,” Fred P. Lampropoulos, chairman and CEO, said in announcing the results.
Lampropoulos said the company’s 2021 financial guidance. “reflects cautious optimism on the prospects for an improving operating environment as we progress through the year, with continued COVID-19-related headwinds over the first half of the year, and a return to more normalized growth as the overall global recovery takes shape over the second half of the year.”
Health Catalyst
Health Catalyst Inc., based in South Jordan, reported a net loss attributable to common stockholders of $43 million, or $1.01 per share, for the fourth quarter ended Dec. 31. That compares with a loss of $14.3 million, or 39 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $53.3 million, up from $43.5 million in the year-earlier quarter.
For the full year 2020, the company reported a net loss of $115 million, or $2.91 per share, which compares with a loss of $240.9 million, or $12.86 per share, for 2019.
Revenue in 2020 totaled $188.8 million, up from $154.9 million in 2019.
Health Catalyst provides data and analytics technology and services to healthcare organizations.
“In the fourth quarter of 2020, I am pleased to share that we achieved strong performance across our business, including exceeding the mid-point of our quarterly and full-year guidance for both revenue and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization),” Dan Burton, CEO, said in announcing the results.
“While 2020 represented an extremely challenging year across the healthcare ecosystem, I am proud of the part Health Catalyst played in supporting our customers to ensure they successfully managed through this unprecedented time. In particular, I am pleased with the role that our data and analytics technology played in enabling our customers’ response to the pandemic, as evidenced by the significant increase in our technology usage throughout 2020.”
Vivint Smart Home
Vivint Smart Home Inc., based in Provo, reported a net loss of $151.2 million for the fourth quarter ended Dec. 31, which compares with a net loss of $88.5 million for the same quarter a year earlier.
Revenue in the most recent quarter totaled $332.5 million, up from $307.8 million in the year-earlier quarter.
For the full year 2020, the company reported a net loss of $484.2 million, which compares with a loss of $395.9 million for 2019. Revenue in 2020 totaled $1.26 billion, up from $1.16 billion in 2019.
Vivint is a smart home company serving North America.
“We met or exceeded all of our financial goals in a year marked by profound and unprecedented challenges, a testament to the favorable positioning of our end-to-end smart home platform and robust service offering heading into the pandemic,” Todd Pedersen, CEO, said in announcing the results.
Reflect Scientific
Reflect Scientific Inc., based in Orem, reported sales in the most recent quarter totaled $695,823, up from $562,314 for the same quarter a year earlier. The company did not release other financials.
The company provides products and services for biotechnology, pharmaceutical and transportation industries.
“We ended the year on a high note,” Kim Boyce, CEO, said in announcing the results. “Overall, we were delighted with the sales for the fourth quarter of 2020.”