Dalrada Reports Full Year 2022 Results and Continues Strong Upward Trajectory in All Four Core Segments
SAN DIEGO–(BUSINESS WIRE)–Dalrada Financial Corporation (OTCQB: DFCO, “Dalrada”, the “Company”), an innovator in its four core segments: healthcare, energy services, precision manufacturing and technology, announced today today its financial results for the fiscal year 2022 ended June 30, 2022 (“Fiscal Year 2022”). The Company continues its strong growth, recording total revenue of approximately $19.3 million, representing year-over-year growth of 465% over prior year revenue of approximately $3 .4 million.
“By all accounts, fiscal year 2022 was a significant success for the company, its management team and its shareholders,” commented Brian Bonar, Founder and CEO of Dalrada. “During the year, we established products and services through a strategic vertical integration approach. Dalrada has leveraged its manufacturing capabilities, technology, people and physical locations to increase market share and position itself for growth in market sectors that are driven by federal funds as well as the commercial demand. Dalrada’s dynamic structure and its cross-market vertical activities have provided the opportunity to revolutionize healthcare with energy solutions for example. Additionally, we have been able to disrupt the energy with technology tools such as digital twins and digital carrier assets and transform cities and rural municipalities by empowering businesses, individuals and non-governmental organizations with information and data to test and make transformational decisions.
“During the year, we made significant progress in expanding our segments. For example, Dalrada Health entered the diagnostics space focusing on SARS-Cov-2 testing and acquired Watson RX Solutions to advance its integration into the pharmaceutical sector. Dalrada Precision Manufacturing completed its international manufacturing presence by acquiring Deposition Technology Ltd., a company that produces precision manufacturing equipment and services for semiconductors and other specialty devices. We also launched Dalrada Energy Services to seize a significant opportunity in the ESG space. We increased our market share in each of our operating segments while strengthening our management team and board of directors. It has been an impressive year of growth and successful entry into carefully selected growth sectors,” Mr. Bonar concluded.
Financial highlights for the full year 2022:
Annual revenue of $19.3 million, an increase of 465%.
Dalrada Health revenue of $13.6 million, an increase of 683%.
Dalrada Precision Manufacturing revenue of $2.1 million, an increase of 341%.
Dalrada Technology revenue of $2.2 million, an increase of 89%.
Dalrada Energy Services segment first-year revenue of $1.3 million.
Operational highlights for the full year 2022:
The Green Proving Ground (GPG), a program of the U.S. General Services Administration (GSA) and the Department of Energy (DOE), chose the company’s Likido™ONE heat pump to help reduce emissions of greenhouse gas emissions from commercial buildings through high-performance, low-carbon solutions. Likido™ONE will be evaluated under dynamic, real-world conditions in federal or private commercial buildings.
Dalrada has partnered with imagineeer, a Virginia-based Web3 solutions company, to develop a Web3 foundation and protocol, enabling a metaverse solution for customers interested in mass disruption. This partnership led to a transformational initiative in Danville, Virginia, beginning with Averett University. The Averett University initiative will be a “petri dish” focused on data ownership, micropayments, and magnetic mapping, as well as creating the ability to measure, tokenize, and create a digital twin to ultimately improve carbon reduction efforts and foster sustainable practices on campus.
Dalrada has expanded its management team by appointing Mr. Brian McGoff as President and Chief Operating Officer. A seasoned leader with more than 25 years of experience at companies such as IBM, HSP Advisors and Health Start Partners, Mr. McGoff guides operations, complex sales, mergers and acquisitions, technology transfer, commercialization at a early stage, business strategy and executive communications.
Dalrada Health has acquired the pharmacy, Watson Rx Solutions, Inc., to further develop its plans in the healthcare industry and use web3 technology and human-centered design to deliver patient-centric care, testing and treatment. the patient, while eliminating data integration and data. share challenges. Dalrada will be able to deploy and test solutions in the market that enable portability of medical records and ownership of data between patients.
Dalrada Precision Manufacturing continued its growth in the global technology and clean energy sectors with the acquisition of Deposition Technology Ltd. (“DepTec”). This gives Dalrada the opportunity to fully participate in microelectronics manufacturing in the United States and abroad, while strengthening the company’s commitment to federal efforts such as the recently passed CHIPS Act, which provides billions of dollars to create a modern domestic manufacturing base for microelectronics.
Dalrada Energy Services was launched to provide comprehensive end-to-end energy service solutions in a robust commercial capacity. These solutions will address unmet energy savings for customers and meet growing needs to conduct business in an environmentally responsible manner while addressing potential issues to maximize energy saving and waste reduction efforts. costs.
Dalrada Precision Manufacturing has launched Ignite Industrial Technologies, a revolutionary biodegradable cleaner and degreaser.
Mr. Bonar continued, “We are very pleased with the company’s strong revenue growth. With the recent Dalrada-equivalent acquisitions and associated acquisition spend behind us, our management team is focused on delivering profitability and accelerating our revenue growth to further enhance value for shareholders.
About Dalrada Financial Corporation
Dalrada Financial Corporation (OTCQB: DFCO) is a forward-looking organization that continuously produces disruptive products and services that accelerate positive change for current and future generations.
Since 1982, Dalrada has redefined possibilities while boldly addressing global challenges with transformative innovations that drive targeted advances in emerging markets for a new era of human behavior and interaction, ensuring a bright future for the world around us. .
Dalrada Financial Corporation is committed to having a positive impact on people, businesses and the planet through sustainable solutions. For more information, visit www.dalrada.com and follow us on TwitterFacebook and LinkedIn.
The statements contained in this press release are not historical facts. Statements are forward-looking, including statements regarding future revenues and sales projections, future financing plans, ability to meet operational milestones, marketing agreements and plans, and shipments and regulatory approvals on international markets. These statements reflect management’s current beliefs, are based on certain assumptions and involve risks and uncertainties. Actual results, events or performance may differ materially from the above forward-looking statements due to a number of important factors and will depend on a variety of factors, including, but not limited to, our ability to obtain additional financing which enable us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to increase. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company’s expectations regarding these forward-looking statements or the occurrence of unforeseen events. Factors that could affect the Company’s success are more fully disclosed in the Company’s most recent public filings with the United States Securities and Exchange Commission (“SEC”), including its report annual on Form 10-K.