LOS ANGELES--(BUSINESS WIRE)--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.
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.