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Home Earnings

Sortis Holdings, Inc. (OTC Pink: SOHI) Reports Q2 2020 Results Showing Second Consecutive Quarter of Profitability

by admin
August 24, 2020
in Earnings, Financials, Sponsored
0
Sortis Holdings SOHI Q2 2020 Growth

Sortis Holdings SOHI Q2 2020 Growth

It’s official. Sortis Holdings, Inc. (OTC Pink: SOHI) is on track to have arguably its best operating year in its existence in 2020. Despite the economic issues faced during the first half of 2020, the Sortis team pushed ahead undeterred. After the company’s Q2 2020 financials release last week, we now know the extent of success experienced during the first half of 2020: consecutive quarterly profitability.

Sortis Holdings: Revenue Growth of 56.71%, Net Income Growth of 1,786% in Q2 2020 vs. Q1 2020

For the quarter ending June 30, 2020, Sortis reported total revenues of $1,232,656 and net income of $586,958, which puts earnings per share around $0.04. Total assets came in at $1,300,942, while total liabilities remained more-than-manageable at $640,569. During the first three months of 2020, the company saw total revenues come in at $788,611 and net income of $31,120.

Sortis Holdings, Inc.

On a quarter-over-quarter basis, Sortis Holdings saw total revenues grow 56.71%, while net income soared 1,786.11%. This growth becomes even more impressive once the overall economic environment is factored into the results.

SOHI: Growth Through Acquisitions

The company’s growth engine appears to be firing up, which effectively was made possible by two key operational changes: divesting of bank assets in 2017 and turning its focus into becoming an alternative investment company. After divesting the bank and gaining a leaner business model, the SOHI management team turned to one of its key strengths: asset management.

Since the bank divestment, Sortis has launched several private investment funds, which have been primarily focused on real estate opportunities both as a borrower and as a lender. Today, Sortis has four active funds: Sortis Income Fund, Sortis Rescue Fund, Sortis Opportunity Zone Fund, and Sortis Growth Fund.

Source: Sortis.com
Source: Sortis.com

“Sortis Holdings now has a stable, growing level of assets under management that provide a predictable and ongoing source of revenue. Since the sale of our Bank in 2017 and the subsequent building of our Company, we have back-to-back quarters of profitability, and our business continues to grow.  While the current impact of COVID-19 on our economy is devastating, we are built for a distressed environment. Our experience through the Great Recession has not only validated the efficacy of our conservative approach in our Fund Management practices, but has also allowed us to launch the Sortis Rescue Fund during the second quarter focused on acquiring distressed assets,” notes SOHI President and Chief Executive Officer, Jef Baker.

Sortis’ Income Fund & Rescue Fund Lead Headlines During First Half 2020

The Sortis Income Fund may be the flagship offering from the company, but it’s their rescue fund that has really caught the attention of media and investors. In May 2020, SOHI formally launched the Sortis Rescue Fund, which was designed to focus on distressed opportunities as a result of COVID-19.

Source: Seattle Times
Source: Seattle Times

Within the first three months of its existence, the rescue fund made two high-profile acquisitions: Rudy’s Barbershop and Bamboo Sushi. Coverage of the acquisitions in big publications like the Seattle Times and the Portland Business Journal, have helped elevate the company’s image as a formidable deal-maker in the distressed space.

Overall, Sortis Holdings is having a breakout year in 2020. Years of positioning and planning are coming to fruition for the company, as they continue to build out their fund offerings. Furthermore, the successful launch of the rescue fund has helped increase SOHI’s image and cash flow, which could be marking the beginning of a prosperous era for Sortis Holdings.

Disclaimer:

Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.

All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated five thousand dollars for the creation and dissemination of this content.

This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.

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Tags: acquisitionalternative investingasset managementBamboo Sushibankcommon stockdistressed investingemerging growthfinancialsfintechinvestinginvestmentMergermicrocap stocksnewsotc marketsPortland Business Journalpublic companyreal estateREITsRudy's Barbershopsalessales growthSeattle Timesservicessmall cap companiessmall cap stockssmall capsSOHISOHI stockSortisSortis HoldingsSortis Income FundSortis Rescue Fundstock marketstockstechtechnology stockstrading
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