NetworkNewsBreaks – SRAX Inc.’s (NASDAQ: SRAX)
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Posted On: 06/04/2020 3:07:49 PM
NetworkNewsBreaks – SRAX Inc.’s (NASDAQ: SRAX) Innovative Stock for Ads Program Contributes to Significant Sales Rebound
SRAX (NASDAQ: SRAX) recently held its FY 2019 and Q1 2020 results conference call (http://nnw.fm/JRe52). An article further discussing the company’s results reads, “SRAX’s fiscal 2019 revenues of $3.6 million showed a 3% year-to-year increase while Q1 2020 sales fell to $350,000 relative to the $592,000 recorded in 2019, the latter decline largely a result of customers opting to defer their media spend to the second quarter. While first-quarter revenues tend to mark the seasonal low for the company, SRAX was able to launch new initiatives, namely its pioneering Stock for Ads program and BIGtoken Lighting Insights platform, both of which have contributed to a significant sales rebound in the second quarter. . . . A key driver for the company’s recent surge in marketing revenues has been its innovative Stock for Ads program, which has enabled customers to launch new media campaigns while paying with stock, thereby permitting companies to conserve cash. SRAX has sought to expand the scope of its program by tabling agreements with 31 banks and brokers, including the likes of B. Riley Financial Inc., who in turn have sought to promote and cross-sell SRAX’s marketing capabilities and Stocks for Ads program to their underlying client bases. Thus far this year, publicly listed U.S. companies have raised capital by selling stock at over twice the pace at which they did in 2019 (http://nnw.fm/7KTdD), a clear illustration of the popularity and potential of equity-based financing options.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
SRAX (NASDAQ: SRAX) recently held its FY 2019 and Q1 2020 results conference call (http://nnw.fm/JRe52). An article further discussing the company’s results reads, “SRAX’s fiscal 2019 revenues of $3.6 million showed a 3% year-to-year increase while Q1 2020 sales fell to $350,000 relative to the $592,000 recorded in 2019, the latter decline largely a result of customers opting to defer their media spend to the second quarter. While first-quarter revenues tend to mark the seasonal low for the company, SRAX was able to launch new initiatives, namely its pioneering Stock for Ads program and BIGtoken Lighting Insights platform, both of which have contributed to a significant sales rebound in the second quarter. . . . A key driver for the company’s recent surge in marketing revenues has been its innovative Stock for Ads program, which has enabled customers to launch new media campaigns while paying with stock, thereby permitting companies to conserve cash. SRAX has sought to expand the scope of its program by tabling agreements with 31 banks and brokers, including the likes of B. Riley Financial Inc., who in turn have sought to promote and cross-sell SRAX’s marketing capabilities and Stocks for Ads program to their underlying client bases. Thus far this year, publicly listed U.S. companies have raised capital by selling stock at over twice the pace at which they did in 2019 (http://nnw.fm/7KTdD), a clear illustration of the popularity and potential of equity-based financing options.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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