Cyberlux Corporation (OTC:CYBL) Releases Second Quarter Financial and Operational Results with the Company Delivering Record Quarterly Revenue of $8.31M and Net Income of $2.99M for Quarter Ended June 30, 2022

Rhea-AI Summary

Cyberlux Corporation (OTC PINK:CYBL) announced record financial results for Q2 2022, achieving $8.31M in revenue and $2.99M in net income, marking a 240% increase over Q1 2022. The company’s total assets rose to $14.38M, reflecting a growth strategy focused on organic and acquisition-driven expansion. Cyberlux exceeded its revenue plans by 29% and achieved 32.9% revenue growth quarter-to-quarter. CEO Mark Schmidt highlighted ongoing projects and an optimistic outlook for 2022, forecasting total revenue of $44.8M.

Positive

• Achieved record revenue of $8,305,823 in Q2 2022, a 32.9% increase from Q1 2022.
• Net income of $2,987,270 represented a 240% increase over the previous quarter.
• Total assets grew by 154% to $14,377,018 over the last six months.
• Exceeded revenue plans for the first half of 2022 by 29%, realizing $14,553,276 against a target of $11,300,000.
• Strong performances across business units, with Unmanned Aircraft Solutions exceeding the plan by 68%.

Negative

• None.

The Company reports it delivered $8.31M in Revenue on Strong Business Unit Performance across Global Markets and posted $2.99M in Net Income for the period ended June 30, 2022, a 240% increase over Q1 2022.

RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / August 16, 2022 / Today, Cyberlux Corporation, (OTC PINK: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 achieved a record $8,305,823 in Revenue and a record $2,987,270 in Net Income for the Second Quarter of 2022. The Company also grew its Balance Sheet Assets to $14,377,018 with its successful organic growth and platform acquisition strategy for the period ended March 31, 2022.

For the quarter ended June 30, 2022, Cyberlux grew its revenue by $2,058,370 to $8,305,823, an increase of 32.9 percent quarter-to-quarter when compared to the $6,247,453 revenue posted in first quarter 2022. Importantly, the Company also achieved a significant 240 percent increase in quarter-over-quarter net income growth, $2,987,270 versus $1,243,246. Additionally, Cyberlux overachieved its Revenue Plan for the first six months of 2022 by 29 percent, $14,553,276 versus $11,300,00, with very strong performances across the four Business Units, with Unmanned Aircraft Solutions beating the Plan by 68 percent, followed by the Digital Platform Solutions team overachieving by 36 percent, and the Infrastructure Technology Solutions team exceeding the Plan by 24 percent. Going forward, with the Company's acquisition and organic growth strategy is continuing to accelerate, particularly with the project opportunity pipeline we have, the 2022 revenue outlook of $44.8 million will be achieved, and the Company is expected to generate a substantial positive net income from Operations for the year as well, to further the share buyback plan as previously announced.

Financial Highlights for Three and Twelve Months Ended June 30, 2022:

• Revenues from Operations for the three months of $8,305,823, up 32.9% from the $6,247,453 in revenue for the previous quarter ended March 31, 2022.
  
• Revenues from Operations of 8,305,823 for the three months ended June 2022 exceeded the second quarter 2022 Plan of $6,800,000 by $1,505,823, beating the Plan by 22.1%.
  
• Revenues from Operations of $14,553,276 for the six months ended June 2022 exceeded the six-month 2022 Plan of $11,300,000 by $3,253,276, beating the Plan by 28.8%.
  
• Revenues from Operations of $22,660,868 for the previous twelve months, June 2021 to June 2022, is the highest twelve months of revenue in the Company's history, further demonstrating the success of the Company's growth strategy on a year-over-year basis.
  
• Net Income from Operations of $4,230,515 for the previous six months, January 2022 to June 2022, increased 1090% over this period, versus $387,964 over the prior six-month period, January 2021 to June 2022.
  
• Total Assets increased to $14,377,018 from $9,327,043 for the previous six months, January 2022 to June 2022, an increase in Total Assets of 154% during the six-month period.

Cyberlux Corporation CEO Mark Schmidt commented on the results:

"Dear CYBL Community, as you may have suspected, we are involved in some remarkable new opportunities and over the last few weeks this has required a deep organizational focus and the full engagement by our company. At this point, I can say we look forward to briefing you on these special projects, as soon as announcements are approved.

Most importantly, I am so excited that our acquisition and organic growth strategy continues to demonstrate the growth and diversity of our business scope, particularly illustrative with the global reach and scope of our Business Units, along with the recent cross-Business Unit projects we are involved with. We truly do have a force-multiplier structure and you can see this in our results.

For me, both Q2 2022 and the previous 12-month period results are remarkable. These past four quarters including Q1/Q2 2022 are by far the best four quarters the Company has every experienced, in both revenue and net income results. With revenues of over $8 million in Q2, after more than $6 million in Q1, our Operation Alpha continues to deliver results that beat all of our original plans in terms of fundamental growth and capability. With our revenue in Q2 2022 exceeding our Q2 Plan by 22%, and our YTD revenue results beating the YTD Plan by 29%, we really do have the opportunity to have a phenomenal, fantastic year. Perhaps the most impressive measurement to note is the Business Unit net income generation of over $4 million YTD January to June, with our Q2 net income of $2.99 million as the best quarter ever, fueling the growth engine the Business Units represent, fueling the new opportunities we have in front of us, and enabling new technology development, new product development and new market development, and let's not forget the Share Buyback Program as well.

Further, we have been engaged with the OTC Markets team and are rapidly reformatting the 12/31/2021 and 12/31/2020 Annual reports into their desired format. This will remove the restriction and get us back in forward trajectory ASAP. This has been a clear demonstration of some of our growth outstripping our team and I will be addressing this further.

Lastly, I expect we will have more constant availability after next week, but I will do my best to keep the information flowing and return to our form of ‘normal' as soon as possible. But please understand that sometimes you have to lead from the front, be present, be the driving force, and some opportunities require deep engagement and deep ownership. We are doing this, and it will be transformative for everyone involved, starting we believe in Q3. We are building an enterprise and 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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https://www.accesswire.com/712382/Cyberlux-Corporation-OTCCYBL-Releases-Second-Quarter-Financial-and-Operational-Results-with-the-Company-Delivering-Record-Quarterly-Revenue-of-831M-and-Net-Income-of-299M-for-Quarter-Ended-June-30-2022

FAQ

What were Cyberlux Corporation's revenue and net income results for Q2 2022?

Cyberlux Corporation reported $8.31 million in revenue and $2.99 million in net income for Q2 2022.

How much did Cyberlux exceed its revenue plan for the first half of 2022?

The company exceeded its revenue plan for the first half of 2022 by 29%, achieving $14.55 million against a target of $11.30 million.

What is the forecasted revenue for Cyberlux Corporation in 2022?

Cyberlux is forecasting total revenue of $44.8 million for 2022.

How much did Cyberlux's total assets increase in the last six months?

Cyberlux's total assets increased by 154%, rising to $14,377,018 over the last six months.

What was the growth percentage for Cyberlux's net income in Q2 2022 compared to Q1 2022?

Net income in Q2 2022 increased by 240% compared to Q1 2022.