NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) Pos
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Posted On: 12/07/2021 3:16:57 PM
NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) Positioned Amid Substantial Rise in Returns
SRAX (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its software-as-a-service (“SaaS”) platform, has seen a significant rise in its financial returns over the past year. “For the second quarter of fiscal 2021, the company reported Q2 revenues of $7.7 million, up 557% year-over-year, and rising by 41% quarter-on-quarter. The company also seized on the opportunity to update their corporate revenue guidance, increasing Q3 guidance to $8.3 million, which would represent at least a +7.7% quarter-on-quarter increase. SRAX also increased their full year revenue target to $32 million, up from $30 million previously,” reads a recent article. “Immediately following the second quarter earnings report, SRAX announced that they would be carrying out a simultaneous $10 million stock buy-back program as well as paying a one-time special dividend to its shareholders of record as of the 20th of September 2021. The special dividend, which would bear an approximate value of $0.23 per common share, would be in the form of an issuance of non-tradeable preferred shares, which would hold a notional value of approximately $6.5 million worth of Sequire’s clients’ stock. As the underlying shares are sold, the proceeds will be distributed to the preferred shareholders on a periodic basis.”
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 software-as-a-service (“SaaS”) platform, has seen a significant rise in its financial returns over the past year. “For the second quarter of fiscal 2021, the company reported Q2 revenues of $7.7 million, up 557% year-over-year, and rising by 41% quarter-on-quarter. The company also seized on the opportunity to update their corporate revenue guidance, increasing Q3 guidance to $8.3 million, which would represent at least a +7.7% quarter-on-quarter increase. SRAX also increased their full year revenue target to $32 million, up from $30 million previously,” reads a recent article. “Immediately following the second quarter earnings report, SRAX announced that they would be carrying out a simultaneous $10 million stock buy-back program as well as paying a one-time special dividend to its shareholders of record as of the 20th of September 2021. The special dividend, which would bear an approximate value of $0.23 per common share, would be in the form of an issuance of non-tradeable preferred shares, which would hold a notional value of approximately $6.5 million worth of Sequire’s clients’ stock. As the underlying shares are sold, the proceeds will be distributed to the preferred shareholders on a periodic basis.”
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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