NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) Rel
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Posted On: 06/06/2022 5:13:42 PM
NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) Releases Q4, FY 2021 Financial Report; Announces Partnership with Onassis Holdings (ONSS)
SRAX (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS (“SaaS”) platform, is reporting record financial numbers for fiscal year 2021 and Q4 2021. Highlights of the report show that SRA exceeded 2021 guidance of $31.5 million, totaling $28.6 million in revenue with BIGtoken, its former subsidiary, totaling $3.4 million in revenue, and record quarterly revenue of $9.6 million, a 27% increase from the company’s Q3 report and 170% over the previous year period. In addition, SRAX reported record GAAP operating income of $2 million in 2021 compared to a $7 million in 2020, an increase of $9 million year-over-year and a record adjusted EBITDA of $3.8 million for the year. The company also noted that it repurchased approximately $0.9 million of common stock during the year. SRAX also announced a partnership with Onassis Holdings Corp. (OTC: ONSS). ONSS is a holding company specializing in wellness, healthcare and the distribution of nutraceuticals and herbal-based medication. The agreement is designed for SRAX to help ONSS support streamline activities with potential investors and existing shareholders. Specifically, Onassis anticipates using SRAX’s Sequire platform to gather real-time market data, including level-two trading data. In addition, Sequire will enable Onassis to improve its shareholder communications by sharing fast and reliable company information. “Q4 2021 results reflected another strong quarter with revenue of $9.6 million and adjusted EBITDA of $0.9 million,” said SRAX founder and CEO Christopher Miglino. “While these results exceed our expectations, we believe the figures would have been even better had management not been distracted by the BIGtoken transaction and had the company not been required to incur certain expenses related to the BIGtoken transaction. Despite the turbulence in the stock market, our business remains very strong with record weekly bookings taking place in Q2 of 2022. Our customers remain excited about the value proposition Sequire offers, and our backlog remains stronger than ever giving us strong visibility into our results. For Q1 2022, we expect revenue to be approximately $11.5 million, which would be our highest quarter ever. For full year 2022, we expect revenue to be $47-50 million.”
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, is reporting record financial numbers for fiscal year 2021 and Q4 2021. Highlights of the report show that SRA exceeded 2021 guidance of $31.5 million, totaling $28.6 million in revenue with BIGtoken, its former subsidiary, totaling $3.4 million in revenue, and record quarterly revenue of $9.6 million, a 27% increase from the company’s Q3 report and 170% over the previous year period. In addition, SRAX reported record GAAP operating income of $2 million in 2021 compared to a $7 million in 2020, an increase of $9 million year-over-year and a record adjusted EBITDA of $3.8 million for the year. The company also noted that it repurchased approximately $0.9 million of common stock during the year. SRAX also announced a partnership with Onassis Holdings Corp. (OTC: ONSS). ONSS is a holding company specializing in wellness, healthcare and the distribution of nutraceuticals and herbal-based medication. The agreement is designed for SRAX to help ONSS support streamline activities with potential investors and existing shareholders. Specifically, Onassis anticipates using SRAX’s Sequire platform to gather real-time market data, including level-two trading data. In addition, Sequire will enable Onassis to improve its shareholder communications by sharing fast and reliable company information. “Q4 2021 results reflected another strong quarter with revenue of $9.6 million and adjusted EBITDA of $0.9 million,” said SRAX founder and CEO Christopher Miglino. “While these results exceed our expectations, we believe the figures would have been even better had management not been distracted by the BIGtoken transaction and had the company not been required to incur certain expenses related to the BIGtoken transaction. Despite the turbulence in the stock market, our business remains very strong with record weekly bookings taking place in Q2 of 2022. Our customers remain excited about the value proposition Sequire offers, and our backlog remains stronger than ever giving us strong visibility into our results. For Q1 2022, we expect revenue to be approximately $11.5 million, which would be our highest quarter ever. For full year 2022, we expect revenue to be $47-50 million.”
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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