root9B Technologies Inc. reported consolidated earnings results for the second quarter ended June 30, 2016. For the quarter, net revenue rose 28.3% to $10.2 million from $7.9 million a year ago. Loss from operations was $3.9 million as compared to $3.1 million a year ago. Net loss available to common stockholders was $4.8 million or $0.06 per diluted share compared to a net loss of $1.1 million or $0.02 per diluted share a year ago. Excluding the derivative effects, the net loss available to common stockholders was approximately $4.4 million or $0.05 per diluted share against $3.6 million or $0.05 per diluted share a year ago.

The company revised its previous forecast for the full year 2016, expecting to report net revenue of approximately $34.7 million, an increase of 18.1% from net revenue of $29.4 million in 2015. Operating loss for 2016 is expected to narrow to approximately $11.9 million from an operating loss of $13.2 million in 2015, a 9.2% improvement. The improvement will be driven primarily by a combination of higher revenue, a higher proportion of cybersecurity revenue, the impact of previously enacted cost cutting initiatives, and the absence of certain expenses that were incurred in 2015.