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Ault Alliance, Inc. (NYSE American: AULT) reported preliminary revenue of $36 million for the first quarter of 2024, excluding $3 million of revenue from its subsidiary AGREE. The robust performance of Sentinum, Inc. resulted in a significant 51% growth from the prior year first quarter. Circle 8 Crane Services, also had steady revenue at approximately $13 million for the first quarter of 2024. The Company remains committed to leveraging its market position to drive sustainable growth and create value for its stockholders.
Ault Alliance, Inc. (NYSE American: AULT) ha riportato un fatturato preliminare di 36 milioni di dollari per il primo trimestre del 2024, escludendo 3 milioni di dollari di ricavi dalla sua filiale AGREE. L'ottima prestazione di Sentinum, Inc. ha portato a un significativo aumento del 51% rispetto allo stesso periodo dell'anno precedente. Anche Circle 8 Crane Services ha registrato un fatturato stabile di circa 13 milioni di dollari per il primo trimestre del 2024. L'azienda rimane impegnata a sfruttare la sua posizione di mercato per promuovere una crescita sostenibile e creare valore per i suoi azionisti.
Ault Alliance, Inc. (NYSE American: AULT) reportó ingresos preliminares de 36 millones de dólares para el primer trimestre de 2024, excluyendo 3 millones de dólares de ingresos de su subsidiaria AGREE. El sólido desempeño de Sentinum, Inc. resultó en un significativo crecimiento del 51% en comparación con el primer trimestre del año anterior. Circle 8 Crane Services también mantuvo ingresos estables de aproximadamente 13 millones de dólares para el primer trimestre de 2024. La compañía sigue comprometida con aprovechar su posición en el mercado para impulsar un crecimiento sostenible y crear valor para sus accionistas.
Ault Alliance, Inc. (NYSE American: AULT)는 2024년 첫 분기에 자회사 AGREE의 수익 3백만 달러를 제외하고 36백만 달러의 예비 수익을 보고했습니다. Sentinum, Inc.의 강력한 성과로 전년 동기 대비 51% 성장을 기록했습니다. Circle 8 Crane Services 또한 2024년 첫 분기에 약 13백만 달러의 안정적인 수익을 유지했습니다. 회사는 시장 위치를 활용하여 지속 가능한 성장을 추진하고 주주들에게 가치를 창출하기 위해 전념하고 있습니다.
Ault Alliance, Inc. (NYSE American: AULT) a rapporté des revenus préliminaires de 36 millions de dollars pour le premier trimestre de 2024, excluant 3 millions de dollars de revenus de sa filiale AGREE. La performance robuste de Sentinum, Inc. a entraîné une croissance significative de 51% par rapport au premier trimestre de l'année précédente. Circle 8 Crane Services a également maintenu des revenus stables d'environ 13 millions de dollars pour le premier trimestre de 2024. L'entreprise reste engagée à exploiter sa position sur le marché pour stimuler une croissance durable et créer de la valeur pour ses actionnaires.
Ault Alliance, Inc. (NYSE American: AULT) hat für das erste Quartal 2024 einen vorläufigen Umsatz von 36 Millionen Dollar gemeldet, exklusive 3 Millionen Dollar Umsatz von seiner Tochtergesellschaft AGREE. Die starke Leistung von Sentinum, Inc. führte zu einem signifikanten Wachstum von 51% im Vergleich zum Vorjahresquartal. Auch Circle 8 Crane Services erzielte einen stabilen Umsatz von etwa 13 Millionen Dollar im ersten Quartal 2024. Das Unternehmen bleibt darauf ausgerichtet, seine Marktposition zu nutzen, um nachhaltiges Wachstum zu fördern und Wert für seine Aktionäre zu schaffen.
Positive
Preliminary revenue of $36 million, the highest first quarter topline results in the Company’s history
Robust performance of Sentinum, Inc. with a significant 51% growth from the prior year first quarter
Circle 8 Crane Services, had steady revenue at approximately $13 million for the first quarter of 2024
Committed to leveraging its market position to drive sustainable growth and create value for its stockholders
Negative
None.
Insights
The disclosure of preliminary revenue of $36 million for Ault Alliance in the first quarter of 2024 signifies a record-setting performance for the period in question. Notably, the exclusion of $3 million from the AGREE hotels, previously considered discontinued operations, hints at an organizational restructuring of financials following the suspension of their sale. For investors, the inclusion of these assets back into continuing operations may suggest a reassessment of the company's long-term property strategy, which could lead to fluctuations in the asset base and earnings metrics used for valuation purposes. The remarkably high 51% year-over-year increase in revenue for Sentinum, influenced by the volatile Bitcoin market, flags a potential risk factor for future earnings predictability. Such dependency on cryptocurrency markets, known for their high volatility, could impact investor sentiment. On the other hand, the stable revenue from Circle 8 Crane Services, LLC provides a balancing element of consistency within the portfolio.
Ault Alliance's announcement encapsulates more than just an earnings update; it's a strategic narrative of diversification and adaptive operations. Investors should consider the underlying sectors represented by the company's subsidiaries – data center operations, Bitcoin mining and heavy equipment rental services. The diversified holdings model can be a double-edged sword, offering resilience against sector-specific downturns while also complicating the investment thesis due to the differing growth trajectories and risk profiles of each business unit. Sentinum's significant revenue leap is closely tied to Bitcoin prices, which serves as an indicator of the company's sensitivity to cryptocurrency market trends. This can be both an opportunity and a vulnerability, depending on the investor's risk appetite and the future stability of the crypto market. Conversely, Circle 8's steady performance presents a more traditional, asset-heavy business model that could appeal to investors seeking stability.
LAS VEGAS--(BUSINESS WIRE)--
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced preliminary revenue of $36 million for the first quarter of 2024, the highest first quarter topline results in the Company’s history.
The preliminary revenue of $36 million for the first quarter of 2024 excludes $3 million of revenue from the four hotels owned and operated by the Company’s wholly owned subsidiary, Ault Global Real Estate Equities, Inc. (“AGREE”), which in the first quarter of 2024, were considered held for sale and included in discontinued operations. The Company recently announced that it has ended the marketing process for its AGREE hotel properties. As a result, upon the announcement, it was determined that the AGREE assets and liabilities previously presented as assets and liabilities held for sale within the Company’s balance sheet will no longer meet the held for sale criteria and amounts previously presented in discontinued operations will be reclassified into continuing operations for all periods presented going forward.
A significant contributor to first quarter 2024 revenue was the robust performance of Sentinum, Inc. (“Sentinum”), specializing in data center operations and Bitcoin mining. Preliminary revenue for Sentinum reflects a significant 51% growth from the prior year first quarter, primarily a result of the increase in the price of Bitcoin.
Additionally, Circle 8 Crane Services, LLC (“Circle 8”), which specializes in manned and operated heavy equipment rental services had steady revenue at approximately $13 million for the first quarter of 2024.
“We are thrilled to start the year with such momentum across our key business units,” said Milton “Todd” Ault III, Founder and Executive Chairman of the Company. “This performance is a testament to our focused strategy and the hard work of our dedicated team. We are excited about the future and look forward to sharing more about our growth initiatives soon.”
Ault Alliance remains committed to leveraging its market position to drive sustainable growth and create value for its stockholders. As customary, the Company will continue sharing updates about its main operating subsidiaries and the specific growth projects attributed to each unit as circumstances warrant.
For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com.
Ault Alliance Investor Contact:
IR@Ault.com or 1-888-753-2235
Source: Ault Alliance, Inc.
FAQ
What is the preliminary revenue reported by Ault Alliance for the first quarter of 2024?
Ault Alliance reported preliminary revenue of $36 million for the first quarter of 2024, the highest first quarter topline results in the Company’s history.
What was the revenue from the AGREE subsidiary excluded from the first quarter preliminary revenue?
$3 million of revenue from the AGREE subsidiary was excluded from the first quarter preliminary revenue.
What was the percentage growth for Sentinum, Inc. from the prior year first quarter?
The robust performance of Sentinum resulted in a significant 51% growth from the prior year first quarter.
What was the revenue for Circle 8 Crane Services, for the first quarter of 2024?
Circle 8 Crane Services, had steady revenue at approximately $13 million for the first quarter of 2024.
