Cyberlux Corporation (OTC:CYBL) Releases Amended First Quarter Financial and Operational Results Confirming the Company Delivered $6.25M in Revenue and $1.24M in Net Income for Quarter Ended March 31, 2022

Rhea-AI Summary

Cyberlux Corporation (OTC:CYBL) announced its amended Quarterly Report for Q1 2022, revealing a record revenue of $6.25M and net income of $1.24M, marking a year-over-year increase of 543% in net income. Revenue grew 13.8% from the previous quarter, exceeding the planned amount by 38.8%. Total assets increased significantly to $10.52M, while current liabilities decreased by 42.8%. The company anticipates ongoing revenue growth throughout 2022, projecting a total of $44.8M for the year, driven by its acquisition and organic growth strategies across its business units.

Positive

• Achieved record revenue of $6.25M and net income of $1.24M for Q1 2022.
• 543% year-over-year increase in net income.
• Revenue exceeded plan by 38.8%.
• Total assets increased to $10.52M, up from $78,838.
• Current liabilities decreased by 42.8%.

Negative

• None.

In compliance with OTC Markets, the Company filed the minor updates requested and confirmed it delivered $6.25M in Revenue and posted $1.24M in Net Income for the period ended March 31, 2022, a 543% increase year-over-year in Net Income growth.

RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / June 15, 2022 / Today, Cyberlux Corporation, (OTC:CYBL), an advanced digital technology platform company leading the digital transformation evolution across industries with breakthrough Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) solutions, advanced unmanned aircraft solutions (UAS), cutting-edge lighting solutions, and renewable energy and infrastructure technology solutions, announced that the Company has filed its amended Quarterly Report for the period ended March 31, 2022, including the minor corrections and additions required in compliance with the OTC Markets request, and has confirmed the Company achieved a record $6,247,453 in Revenue and a record $1,243,246 in Net Income for the First Quarter of 2022. The Company also grew its Balance Sheet Assets to $10,524,329 with its successful organic growth and platform acquisition strategy for the period ended March 31, 2022.

Cyberlux grew its revenue by $6,247,453, compared to $0 revenue in first quarter 2021, and achieved a 543 percent increase in year-over-year net income growth, $1,243,246 versus $193,440. Additionally, Cyberlux revenue grew 13.8 percent quarter-over-quarter from fourth quarter 2021 to first quarter 2022, where first quarter is typically the lowest performing quarter for the entire year.

Cyberlux Management expects the quarterly revenue growth to continue during 2022 and expects a record second quarter 2022, as May 2022 results are finalized this week. Going forward, the Company's acquisition and organic growth strategy continues to expand across its four business units: Digital Platform Solutions, Unmanned Aircraft Solutions, Infrastructure Technology Solutions and Advanced Lighting Solutions. With the 2022 revenue outlook of $44.8 million, the Company is expected to generate a substantial positive net income from Operations for the year as well.

Financial Highlights for Three and Twelve Months Ended March 31, 2022:

• Revenues from Operations for the three months of $6,247,453, up 13.8% from the $5,389,560 in revenue for the previous quarter ended December 31, 2021.
• Revenues from Operations of $6,247,453 for the three months ended March 2022 exceeded the first quarter 2022 Plan of $4,500,000 by $1,747,453, beating the Plan by 38.8%.
• Revenues from Operations of $14,355,045 for the previous twelve months, March 2021 to March 2022, is the highest rolling twelve months of revenue in the history of the Company, further demonstrating the success of the Company's growth strategy on a year-over-year basis.
• Net Income from Operations of $3,144,012 for the previous twelve months, March 2021 to March 2022, increased 1525% over this period, versus $193,440 over the prior twelve-month period, March 2020 to March 2021 (due to the Pandemic shutdown).
• Total Assets increased to $10,524,329 from $78,838 for the previous twelve months, March 2021 to March 2022, an increase in Total Assets of 133 times, year-on-year.
• Current Liabilities decreased by $4,265,176 for the previous twelve months, March 2021 to March 2022, from $9,954,552 to $5,689,376, a reduction of 42.8%.
• The Deficiency in Shareholders' Equity decreased from $10,010,614 to $4,276,997, a reduction of $5,733,617 and a 57.3% decrease from March 31, 2021 to March 31, 2022, a further significant indication of the remarkable shareholder value creation from the Company's acquisition and growth strategy.

Cyberlux Corporation CEO Mark Schmidt commented on the results:

"Dear CYBL Community, we are happy to report the OTC Markets requests have been reflected in the amended Q1 2022 report just filed, and we could not be more excited to confirm our stellar Q1 2022 results, across the board the best Q1 ever and a remarkable year-on-year transition for both the Cyberlux company and our shareholders. We also took the time to review the OTC Markets input with our pre-audit team to make sure we learned and institutionalize the process changes we need from the input we received.

The results for both Q1 2022 and the previous 12-month period are simply amazing. These past four quarters including Q1 2022 are by far the best four quarters in both revenue and net income results we have every had as a company. With revenues of over $6 million in Q1 and over $13 million from Q1 2021 to Q1 2022, we are seeing Operation Alpha deliver results way beyond our plans. In fact, our revenue in Q1 2022 exceeded our Q1 Plan by 39%, which is just fantastic since Q1 is the lowest quarter of the year. More importantly, we've generated net income of over $3 million during the past four quarters, a growth of over 1525%. And our Q1 net income was still $1.2 million, the second-best quarter ever, despite being a very heavy investment quarter in our Business Unit plans. This bodes very well for the Share Buyback Program we just announced as well.

We're expecting May 2022 results this week and will have more to say on the rest of the year, but we expect Q2 to be the best yet and launch the business growth for the rest of the year per our 2022 Operation Alpha Plan. I'd be remiss if I didn't remind our shareholders that we are really, truly just getting started!

Going forward, Cyberlux Corporation is "Harnessing the Future", driving operational growth with current and future technologies, through fundamental organic growth and through an accelerated acquisitions and joint ventures strategy, all fueling significant future growth. As the Company develops advanced technology products, we will identify core technology and product companies, and these companies will become the Cyberlux growth catalysts. As the results show, Cyberlux is building a global enterprise and developing into a leading technology growth company.

About Cyberlux Corporation

Cyberlux Corporation (OTC Bulletin Board:CYBL) is "Harnessing the Future" by leading digital transformation across global industries, driving operational growth through an accelerated acquisitions and joint ventures strategy, and continuously fueling growth with current and future technology developments, including fundamental organic growth from the Company's four business units - Digital Platform Solutions, Unmanned Aircraft Solutions, Advanced Lighting Solutions, Infrastructure Technology Solutions, targeting 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 are Cyberlux Corporation's financial results for Q1 2022?

Cyberlux Corporation reported a revenue of $6.25M and a net income of $1.24M for Q1 2022.

How does Cyberlux Corporation's Q1 2022 net income compare to last year?

The net income of $1.24M for Q1 2022 represents a 543% increase compared to $193,440 in Q1 2021.

What is the revenue outlook for Cyberlux Corporation in 2022?

Cyberlux Corporation projects total revenue of $44.8M for the year 2022.

What percentage did Cyberlux Corporation's revenue increase from Q4 2021 to Q1 2022?

Cyberlux Corporation's revenue increased by 13.8% from Q4 2021 to Q1 2022.

How did Cyberlux Corporation's total assets change between March 2021 and March 2022?

Total assets increased from $78,838 to $10.52M from March 2021 to March 2022.