SRAX Announces Preliminary Revenue Results For Q4 and Full Year 2020
January 28 2021 - 8:00AM
InvestorsHub NewsWire
January 28, 2021 - InvestorsHub NewsWire - SRAX, Inc.
(NASDAQ:
SRAX), a financial technology company that unlocks
data and insights for publicly traded companies through
Sequire, its SaaS platform, is providing
unaudited preliminary revenue results for Q4 and Fiscal year
2020.
- For the three months ended December 31, 2020, the Company
expects to report net revenue of approximately $4.5 million,
surpassing the company's guidance for the quarter. Revenue is
expected to be up approximately 320% year-over-year and up 75% from
Q3 2020, exceeding analyst expectations.
- 2020 revenue of approximately $8.7 million, up approximately $5
million and 142% over 2019.
- Four consecutive quarters of revenue growth and seven quarters
of consecutive Sequire growth.
- Guidance for full-year 2021 of $17-$18 million.
- Q1 2021 Revenue Guidance of $5 million representing a $4.7
million increase over Q1 2020.
- 153 issuers have joined the Sequire
platform, a 22% increase since our last report.
- Marketable Securities of approximately $16 million currently on
hand.
- Gross Margins of approximately 69% for the year and 73% for the
quarter.
"We continued to see significant demand for our
Sequire platform in Q4 and this growth has
continued into the first month of 2021. On the product front, we
are continuing to add new features to the platform to enhance the
value to our clients," said Christopher Miglino, Founder and CEO of
SRAX. "We have a vision of delivering a platform that will be an
essential part of every public company. We are well on our way to
accomplishing this goal and think that this year will validate our
leadership position in the market," added
Miglino.
About SRAX
SRAX (NASDAQ:
SRAX) is a financial technology company that unlocks
data and insights for publicly traded companies. Through its
premier investor intelligence and communications platform,
Sequire, companies can track their investors'
behaviors and trends and use those insights to engage current and
potential investors across marketing channels. For more information
on SRAX, visit srax.com and mysequire.com.
The preliminary operating results set forth above are based solely
on currently available information, which is subject to change.
Readers are cautioned not to place undue reliance on such
preliminary operating results, which constitute forward looking
statements.
Cautionary Statement Regarding Forward Looking
Information:
This news release contains "forward-looking statements" made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
relate to future, not past, events and may often be identified by
words such as "expect," "anticipate," "intend," "plan," "believe,"
"seek" or "will." Forward-looking statements by their nature
address matters that are, to different degrees, uncertain. Specific
risks and uncertainties that could cause our actual results to
differ materially from those expressed in our forward-looking
statements include risks inherent in our business, and our need for
future capital. Actual results may differ materially from the
results anticipated in these forward-looking statements. Additional
information on potential factors that could affect our results and
other risks and uncertainties are detailed from time to time in
SRAX's periodic reports filed with the Securities and Exchange
Commission (SEC), including its Annual Report on Form 10-K for the
year ended December 31, 2019, its Quarterly Reports on Form 10-Q as
well as and in other reports filed with the SEC. We do not assume
any obligation to update any forward-looking statements
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