Blackboxstocks Announces Record High Revenue for the Fourth Quarter and Full Year of 2021

Rhea-AI Summary

Blackboxstocks Inc. (NASDAQ: BLBX) reported a record revenue of $1.69 million for Q4 2021, up 62% from Q4 2020. Total revenue for the year reached $6.11 million, marking an 82% increase over 2020. The gross margin for Q4 was 65.8%, improving from 52.0% in the previous year, while the 2021 gross margin stood at 69.7%. Adjusted EBITDA was $(891,516) for Q4 and $(893,386) for the year. Cash and marketable securities rose to $10.44 million as of December 31, 2021, bolstered by the IPO proceeds from November 2021.

Positive

• Q4 revenue increased by 62% year-over-year.
• Annual revenue surged by 82% compared to 2020.
• Q4 gross margin reached 65.8%, up from 52.0% in Q4 2020.
• 2021 gross margin improved to 69.7% from 64.3% in 2020.
• Cash and marketable securities rose to $10.44 million.

Negative

• Adjusted EBITDA remained negative at $(891,516) for Q4.
• Annual adjusted EBITDA also negative at $(893,386).

Q4 2021 Revenue Reaches $1.69 Million; 2021 Revenue Totals $6.11 Million

Conference Call on Friday, April 1st at 10:00am ET / 9:00am CT

DALLAS--(BUSINESS WIRE)-- Blackboxstocks Inc. (NASDAQ: BLBX), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, today announced its financial results for the fourth quarter and twelve months ended December 31, 2021. The Company will hold a quarterly conference call on Friday, April 1st at 10:00am ET / 9:00am CT.

Fourth Quarter and Twelve Month 2021 Financial and Operating Highlights:

• Total revenue for the fourth quarter ended December 31, 2021 was $1,687,237, an increase of 62% over the fourth quarter of 2020 and the highest quarterly revenue to date in the Company’s history.
• Total revenue for year ended December 31, 2021 was $6,112,324, an increase of 82% compared to $3,367,563 for 2020.
• Gross margin for the fourth quarter was $1,110,834, an increase of 105%, compared to $542,538 in the fourth quarter of 2020. The gross margin was 65.8% in the current quarter compared to 52.0% in the fourth quarter last year.
• Gross margin for 2021 was $4,260,969, an increase of 97%, compared to $2,166,243 for 2020. The gross margin was 69.7% for 2021 compared to 64.3% for 2020.
• Adjusted EBITDA was $(891,516) and $(893,386) for the quarter and year ended December 31, 2021 as compared to $(266,423) and $(299,714) for the same periods in 2020.
• Cash and marketable securities totaled $10,442,379 at December 31, 2021, compared to $972,825 for the prior year. This includes proceeds from the Company’s initial public offering in November of 2021.

“Blackbox leveraged strong membership growth in both the fourth quarter and full year to generate record revenue and stronger gross margin growth in both periods. This breakout year is a testament to the entire Blackbox community, and we want to thank our members, moderators, developers and corporate team for their hard work and support,” commented Robert Winspear, Chief Financial Officer.

Gust Kepler, Chief Executive Officer, added, “2021 was a pivotal year for Blackbox. We nearly doubled our revenue from 2020, and we have set our sights on continuing this trajectory in 2022. Armed with the proceeds from our initial public offering last November, we are focused on growing our core business and continuing to introduce new and innovative products to the market.”

Summary financial data is presented in the tables below. Please see the Company’s Form 10-K filed with the Securities and Exchange Commission on March 31, 2022 for additional information.

Conference Call and Webcast Information

Blackboxstocks has scheduled a conference call at 9:00 a.m. CT / 10:00 a.m. ET today. To participate, please call 1 (877) 317- 6789 at least 10 minutes prior to the start of the call and ask to join the Blackboxstocks call.

A simultaneous webcast of the call may be accessed through the Company's website, www.blackboxstocks.com, or at: https://services.choruscall.com/mediaframe/webcast.html?webcastid=WDesHDvQ

A replay of the call will be available at (877) 344-7529, access code 4766340, through April 8, 2022.

About Blackboxstocks, Inc.

Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs “predictive technology” enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/video feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans 42 countries; current subscription fees are $99.97 per month or $959.00 annually. For more information, go to: www.blackboxstocks.com.

Safe Harbor Statement

Our prospects here at Blackbox stocks are subject to uncertainties and risks. This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business, and reflect our beliefs and assumptions based upon information available to us at the date of this press release. In some cases, you can identify these statements by words such as “if,” “may,” “might,” “will, “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” and other similar terms. These forward-looking statements include, among other things, plans for proposed operations, descriptions of our strategies, our product and market development plans, and other objectives, expectations and intentions, the trends we anticipate in our business and the markets in which we operate, and the competitive nature and anticipated growth of those markets. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors including, but not limited to, the risks and uncertainties discussed in our other filings with the Securities Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.

-Tables Follow -

Blackboxstocks Inc. Summary Statements of Operations
		Three months ended December 31, (unaudited)								Year ended December 31,
			2021				2020				2021				2020
Revenues		$	1,687,236			$	1,043,135			$	6,112,324			$	3,367,563
Cost of revenues			576,402				500,597				1,851,355				1,201,320
Gross margin			1,110,834				542,538				4,260,969				2,166,243
Operating expenses			2,917,354				856,723				6,538,808				2,578,941
Operating loss		$	(1,806,520	)		$	(314,185	)		$	(2,277,839	)		$	(412,698	)
Other (income) expense:
Interest and financing expense			72,459				194,148				371,302				1,097,931
Gain on derivative liability			-				10,524				-				(1,155,718	)
Gain on forgiveness of note payable			-				-				(33,405	)			-
Net loss		$	(1,878,979	)		$	(518,857	)		$	(2,615,736	)		$	(354,911	)
Adjusted EBITDA		$	(891,516	)		$	(266,423	)		$	(893,386	)		$	(299,714	)
Adjusted EBITDA Calculation
Net loss		$	(1,878,979	)		$	(518,857	)		$	(2,615,736	)		$	(354,911	)
Adjustments:
Depreciation and amortization expense			5,256				2,912				19,721				12,884
Interest and financing expense			84,171				204,672				383,014				1,097,931
Gain on derivative liability			-				-				-				(1,155,718	)
Gain on forgiveness of note payable			-				-				(33,405	)			-
Stock based compensation			898,036				44,850				1,353,020				100,100
Total adjustments			987,463				252,434				1,722,350				55,197
Adjusted EBITDA		$	(891,516	)		$	(266,423	)		$	(893,386	)		$	(299,714	)

Blackboxstocks Inc. Summary Balance Sheet Data
		December 31,
			2021				2020
Assets
Cash		$	2,426,497			$	972,825
Marketable securities			8,015,882				-
Other current assets			259,592				116,994
Total current assets		$	10,701,971			$	1,089,819
Property and equipment:			448,143				68,030
Total assets		$	11,150,114			$	1,157,849
Liabilities and Stockholders' Equity (Deficit)
Current liabilities:
Accounts payable		$	585,615			$	352,545
Unearned subscriptions			1,302,036				1,016,157
Other current liabilities			69,174				230,898
Notes payable, current portion, net			971,851				142,464
Convertible notes payable, net			-				257,150
Total current liabilities		$	2,928,676			$	1,999,214
Long term liabilities:
Notes payable			68,347				890,148
Lease liability right of use, long term			335,641				26,241
Total long term liabilities			403,988				916,389
Total stockholders' equity (deficit)		$	7,817,450			$	(1,757,754	)
Total liabilities and stockholders' equity (deficit)		$	11,150,114			$	1,157,849

Disclosure of Non-GAAP Financial Measures

We report our financial results in accordance with accounting principles generally accepted in the United States of America (“GAAP”). However, management believes the presentation of certain non-GAAP financial measures provides useful information to management and investors regarding financial and business trends relating to the Company’s financial condition and results of operations, and that when GAAP financial measures are viewed in conjunction with the non-GAAP financial measures, investors are provided with a more meaningful understanding of the Company’s ongoing operating performance. In addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for evaluating performance. For all non-GAAP financial measures in this release, we have provided corresponding GAAP financial measures for comparative purposes in the report.

We refer to the term “EBITDA” in various places of our financial discussion. EBITDA is defined by us as net income (loss) from continuing operations before interest expense, income tax, depreciation and amortization expense and certain non-cash expenses including stock-based compensation. EBITDA is not a measure of operating performance under GAAP and therefore should not be considered in isolation nor construed as an alternative to operating profit, net income (loss) or cash flows from operating, investing or financing activities, each as determined in accordance with GAAP. Also, EBITDA should not be considered as a measure of liquidity. Moreover, since EBITDA is not a measurement determined in accordance with GAAP, and thus is susceptible to varying interpretations and calculations, EBITDA, as presented, may not be comparable to similarly titled measures presented by other companies.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220331005957/en/

Investors@blackboxstocks.com

PCG Advisory

Stephanie Prince, Managing Director

(646) 863-6341

sprince@pcgadvisory.com

Source: Blackboxstocks Inc.

FAQ

What was Blackboxstocks' revenue for Q4 2021?

Blackboxstocks reported a revenue of $1.69 million for Q4 2021.

How much did Blackboxstocks earn in total revenue for 2021?

The total revenue for Blackboxstocks in 2021 was $6.11 million.

What are the gross margins for Blackboxstocks in Q4 2021?

The gross margin for Q4 2021 was 65.8%.

What were Blackboxstocks' adjusted EBITDA figures for 2021?

Adjusted EBITDA was $(891,516) for Q4 and $(893,386) for the full year.

How much cash and marketable securities did Blackboxstocks have at the end of 2021?

At the end of 2021, Blackboxstocks had $10.44 million in cash and marketable securities.