Cord Blood America Inc (OTCMKTS:CBAI) shares are holding steady at $0.00400 on Wednesday. The company has a market cap of $5.09 million at 1.27 billion shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.01.
Earlier this month, Cord Blood America Inc released its quarterly earnings figures and reported total revenue for the first quarter at $0.75 million, a decrease of 24.4% from total revenue of $0.99 million for the first quarter 2016. Recurring storage revenue for the first quarter 2017 was $0.66 million, a decrease of 2.0% from recurring storage revenue of $0.67 million for the first quarter 2016.
“The business is performing in line with our guidance from last quarter, and sits on net cash of approximately $0.5 mm while continuing to generate cash. Organic growth has been flattish, but with the balance sheet now healthy and visibility of positive ongoing cash generation, we expect to evaluate high ROI opportunities to spur growth,” remarked Chairman of the Board at Cord Blood America Inc David Sandberg.
Gross profit was at $0.58 million, a decrease of $0.07 million, or 11.0%, from $0.65 million in first quarter 2016. Part of this decrease was attributable to the tissue procurement business and the reduction in storage and processing revenue from the third party. Gross margin for the period was 77.1%, compared to 65.5% in first quarter 2016, due to the reduction in revenue from lower margin business and reductions made in cost of goods sold.
Cord Blood America Inc is a company that provides cord blood and cord tissue stem cell services. Its subsidiaries include Cord Partners, Inc., CorCell Companies, Inc., CorCell, Ltd., (Cord Partners, Inc., CorCell Companies, Inc. and CorCell, Ltd. are referred to collectively as Cord), CBA Properties, Inc. (Properties), and Career Channel, Inc.
The company and its subsidiaries engage in the various business activities, such as providing private cord blood and cord tissue stem cell storage services to families throughout the United States and Puerto Rico. Properties was formed to hold corporate trademarks and other intellectual property. Cord’s operations provide umbilical cord blood banking and cord tissue services to expectant parents. Cord provides various services, which includes collection materials, physician and customer support, transportation, testing and cord blood storage.