Cyberlux Corporation (OTC:CYBL) Beats its Revenue Guidance by 17% for the Full Year 2021 to Drive the Key Accomplishments for the Month of December 2021

Rhea-AI Summary

Cyberlux Corporation (OTC PINK: CYBL) reported a significant increase in revenue for 2021, surpassing its guidance by $1.1 million, reaching $7.7 million, a 17% increase. This performance exceeded the June guidance by 48% and marked the best quarterly performance with $5.1 million in Q4. Key achievements include the acquisition of Kreatx SHPK and new leadership with Aaron Goodman joining the Board. Additionally, the company anticipates positive net income from operations.

Positive

• Revenue for 2021 reached $7.7 million, exceeding guidance by $1.1 million (17%).
• Q4 revenue increased from $2.25 million to $5.1 million, marking a near doubling quarter-to-quarter.
• The company exceeded June's revenue projection by $2.5 million (48%).
• Positive net income expected from operations for 2021.
• Acquisition of Kreatx SHPK enhances Cyberlux's software capabilities.
• New board member Aaron Goodman supports acquisition strategy and NASDAQ uplisting.

Negative

• None.

The Company exceeded it's the Revenue Guidance provided in November by $1.1 million as one of many Key Milestones that were achieved during December 2021

RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / January 19, 2022 / Today, Cyberlux Corporation, (OTC PINK:CYBL), an advanced digital technology platform company leading the digital evolution across industries with advanced unmanned aircraft systems (UAS) solutions, LED lighting solutions, renewable energy and infrastructure technology, and Software-as-a-Service (SaaS) solutions, announced that the Company exceeded its full year 2021 revenue guidance provided in November by $1.1 million, from $6.6 million to $7.7million, an increase of 17 percent. The Company's revenue for the full year 2021 also surpassed the prior June guidance by 48 percent, from $5.2 million to $7.7 million, a $2.5 million overachievement. In addition, the Company is expecting to post positive net income from Operations for the full year 2021.

Cyberlux Corporation CEO Mark Schmidt stated:

"Dear CYBL Community, for the fifth consecutive month we have exceeded our expected revenue performance and we are exceptionally excited to see the growth we had from Q3 to Q4, from $2.25 million to $5.1 million, almost double the revenue quarter-to-quarter. This is the best quarterly revenue performance we have every had as a company, with strong results coming from our acquisition strategy and across each of our business units. I know I've said this many times before but we really are just getting started!

Along with the stellar revenue results, December was a remarkable month of accomplishments. Here's a quick recap of what transpired:

• We reported revenue for December of $1.7 million which exceeded both the June projection of $0.5 million by 341% and the new revised December guidance of $0.6 million by $1.1 million and 304%. In addition, our year-to-date revenue through December of $7.7 million also exceeded our revised full year 2021 revenue guidance of $6.6 million by $1.1 million as well.
• We beat our June revenue guidance for the full year 2021 by $2.5 million, over 200% above the $5.2 million projection. In addition, we expect to post positive net income from Operations for the full year 2021.
  We announced that Mr. Aaron Goodman has joined the Board of Directors as a new director who will help guide the corporate acquisition strategy and execution. Mr. Goodman brings significant experience in mergers and acquisitions (M&A) to Cyberlux, and he has held senior leadership positions at some of the world's largest financial firms. Mr. Goodman also brings an extensive knowledge of technology and Big Data to the Cyberlux Board of Directors and will help drive the Company's objective to uplist to the NASDAQ exchange.
• We announced that Mr. Paul "NURK" Nurkkala, Worldwide Champion of the Drone Racing League's (DRL) 2018 season, and 2021 DRL Race Season Commentator, has joined the Company as its FlightEye Chief Test Pilot, an industry first within the unmanned aircraft industry, and Technical Advisory Board Member. Mr. Nurkkala, known professionally as "NURK", brings to Cyberlux the very highest levels of flight skills of any pilot in the international UAS industry today. NURK's UAS piloting skills, extended from his World Champion Drone Racing League achievement to Drone Cinematography, are highly respected within the Film Industry and across the entire UAS industry. Mr. Nurkkala's remote piloting skills have become legendary, and NURK's deep skills and vast experience in all areas of UAS technology and his strategic intellectual property contributions will now be a force multiplier for the Cyberlux FlightEye UAS business unit.
• We announced that we acquired Kreatx SHPK (https://www.kreatx.com), a developer of innovative software solutions. Kreatx has extensive knowledge and experience in building SaaS solutions and end-user applications, which will support Cyberlux in building end-to-end SaaS offerings, required by global governments and commercial customers. With this transaction, Kreatx will add to the foundation of the Cyberlux Infrastructure Software Solutions (Cyberlux ISS) business unit and advance the Cyberlux strategy for its new Cyberlux Digital Software Platform, a core business grow strategy in 2022, to deliver on the Company's global SaaS strategy, with expansion set for North America, Europe and South America.
• We had our first full company Management Interlock meeting to finalize 2021 business and plan our 2022 Roadmap. We expect to hold these meetings quarterly and will continue to expand the team going forward with each acquisition and partnership.
• Last, and perhaps most importantly, we achieved our 2021 Strategic Intellectual Property (IP) objectives with our development work and our acquisitions. With significant discussions with our Partners, we will continue to harness and monetize our developments into shareholder value and further information may be disclosed once our collective IP is fully protected. We will provide more details as our new offerings are introduced.

We had a remarkable December and Q4, and a truly phenomenal 2021, the best year ever for Cyberlux Corporation. We had growth from acquisitions in the large markets we are serving, and we even exceeded our revised December outlook by $1.1 million and 17%. We are fundamentally transforming the Cyberlux company in all four of our business units, with key new personnel like Mr. Goodman and Mr. Nurkkala and amazing new platform companies like the Kreatx team, among the many other accomplishments across the organization. The CYBL team really does go full speed all the time, and I really appreciate the Q4 effort and their ongoing 24/7 dedication to the success of Cyberlux. We also have one of the best IR teams and I appreciate their constant support of our shareholders and their work to provide the best investor relations support possible. We are truly harnessing the future!"

About Cyberlux Corporation

Cyberlux Corporation (OTC PINK:CYBL), an advanced technology growth platform company, is a leader in solid-state lighting innovation, has developed breakthrough LED lighting, energy efficiency technology, advanced infrastructure technology, and advanced unmanned aircraft systems (UAS) technology solutions, available today in U.S. government agencies, commercial markets and international opportunities. For more information, please visit www.cyberlux.com. For investor information, please contact: ir_cybl@cyberlux.com

SAFE HARBOR STATEMENT

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

SOURCE: Cyberlux Corporation

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FAQ

What was Cyberlux Corporation's revenue for 2021?

Cyberlux Corporation reported a revenue of $7.7 million for 2021.

How much did Cyberlux exceed its revenue guidance by?

Cyberlux exceeded its revenue guidance by $1.1 million.

What is Cyberlux's stock symbol?

Cyberlux's stock symbol is CYBL.

What are the key achievements reported by Cyberlux in January 2022?

Key achievements include reaching $7.7 million in revenue, a successful acquisition of Kreatx SHPK, and the appointment of Aaron Goodman to the Board.

What was Cyberlux's Q4 revenue performance?

Cyberlux's Q4 revenue was $5.1 million, up from $2.25 million the previous quarter.