NetworkNewsBreaks – SRAX (NASDAQ: SRAX) Releases
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Posted On: 05/19/2021 3:57:33 PM
NetworkNewsBreaks – SRAX (NASDAQ: SRAX) Releases Q1 Revenue Growth, Increases Full-Year Guidance
SRAX (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS (”SaaS”) platform, posted a video on YouTube featuring founder and CEO Christopher Miglino along with CFO Michael Malone outlining the company’s operational and financial summary for Q1 2021. Highlights of the company’s financial report included the announcements that year-over-year revenue growth for the company was up 1,400%, with growth for Sequire alone up 2,800%; the company also increased its guidance for the year. Technology highlights from the report included the launch of the Sequire audience platform, where companies can host earnings calls, annual meetings and roadshows; the company launched the platform in partnership with Zoom. “We beat our guidance of $5 million in Q1 and are reaffirming our Q2 guidance of $7 million,” said SRAX founder and CEO Christopher Miglino. “We continue to need to consolidate Big Token until we fall below certain ownership thresholds and other criteria, but on a standalone basis, Sequire is in EBITA $500,000 for the quarter. We’ve now seen nine consecutive quarters of continued revenue growth for Sequire. We’ve grown the number of clients that have joined the Sequire platform to 200, a 9% increase since our call just six weeks ago and 294% year over year. We’re continuing to see record bookings. In Q2, we’ve booked $7.2 million as of this call. We anticipate that we’ll exceed last quarter’s bookings of $10 million. . . . As of today, we’ll recognize $19.8 million from existing contracts for the Sequire platform alone this year. With that said, we’re proud to announce an increase of our guidance for the year FOR from $23 to $25 million to $25 to $27 million. We had $13.6 million in cash and $23 million in marketable securities.”
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), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS (”SaaS”) platform, posted a video on YouTube featuring founder and CEO Christopher Miglino along with CFO Michael Malone outlining the company’s operational and financial summary for Q1 2021. Highlights of the company’s financial report included the announcements that year-over-year revenue growth for the company was up 1,400%, with growth for Sequire alone up 2,800%; the company also increased its guidance for the year. Technology highlights from the report included the launch of the Sequire audience platform, where companies can host earnings calls, annual meetings and roadshows; the company launched the platform in partnership with Zoom. “We beat our guidance of $5 million in Q1 and are reaffirming our Q2 guidance of $7 million,” said SRAX founder and CEO Christopher Miglino. “We continue to need to consolidate Big Token until we fall below certain ownership thresholds and other criteria, but on a standalone basis, Sequire is in EBITA $500,000 for the quarter. We’ve now seen nine consecutive quarters of continued revenue growth for Sequire. We’ve grown the number of clients that have joined the Sequire platform to 200, a 9% increase since our call just six weeks ago and 294% year over year. We’re continuing to see record bookings. In Q2, we’ve booked $7.2 million as of this call. We anticipate that we’ll exceed last quarter’s bookings of $10 million. . . . As of today, we’ll recognize $19.8 million from existing contracts for the Sequire platform alone this year. With that said, we’re proud to announce an increase of our guidance for the year FOR from $23 to $25 million to $25 to $27 million. We had $13.6 million in cash and $23 million in marketable securities.”
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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