Investview, Inc. (“INVU”) Reports Full Year 2023 Financial Results, Operational Highlights and a Year-End Message from the CEO

Rhea-AI Summary

Investview reports a 9.4% increase in gross revenue to $72.9 million and a 153.5% rise in net income from operations to $4.6 million for the twelve months ended December 31, 2023. The company also reduced outstanding debt by 65.9% and repurchased over 775 million common shares, resulting in a decrease of 29.4% in issued and outstanding shares. Investview acquired Opencash Securities, to expand into the retail brokerage and financial markets industry.

Positive

• Gross revenue increased by 9.4% to $72.9 million for the twelve months ended December 31, 2023.
• Net income from operations surged by 153.5% to $4.6 million for the same period.
• Outstanding debt reduced by 65.9% to $3.6 million at year-end 2023.
• Over 775 million common shares were repurchased, leading to a 29.4% decrease in issued and outstanding shares.
• Acquisition of Opencash Securities, marks Investview's entry into the retail brokerage and financial markets industry.

Negative

• Net cash provided by operating activities decreased by 35.2% for the twelve months ended December 31, 2023.
• Total assets decreased by $1.9 million from $35.6 million at December 31, 2022, mainly due to non-cash impairment charges and equipment depreciation.
• SAFETek experienced a 5.0% decrease in net revenue due to Bitcoin mining difficulties and price volatility.

Investview Reports Gross Revenue of $72.9 Million, an increase of 9.4%, and Net Income from Operations of $4.6 Million, an increase of 153.5% for the twelve months ended December 31, 2023.

Haverford, PA, April 01, 2024 (GLOBE NEWSWIRE) -- Investview, Inc. (OTCQB: INVU), a diversified financial technology (FinTech) company that provides financial education tools, content and research, through a global distribution network; digital asset products and services that support blockchain technologies and Bitcoin mining operations; and, which is developing a retail brokerage and financial markets business that plans to offer investors an online trading platform focused on enabling self-directed retail brokerage services, is pleased to announce its financial results for the twelve months ended December 31, 2023.

Summary Consolidated Financial Highlights:

Results of Operations and Net Cash Provided by Operating Activities - Twelve Months Ended December 31, 2023 vs December 31, 2022

• Gross Revenue (a Non-GAAP measure) increased 9.4% to $72.9 million for the twelve months ended December 31, 2023, as compared to $66.6 million for the comparable prior year period.
• Net Revenue increased 9.8% to $67.9 million for the twelve months ended December 31, 2023, as compared to $61.8 million for the comparable prior year period.
• Net income from operations increased 153.5% to $4.6 million for the twelve months ended December 31, 2023, as compared to a net loss from operations of $8.6 million for the comparable prior year period.
• Net cash provided by operating activities was $6.1 million for the twelve months ended December 31, 2023, a decrease of 35.2% versus the comparable prior year period.

Balance Sheet Data-December 31, 2023 vs December 31, 2022

• Cash and cash equivalents at December 31, 2023 were $20.9 million, an increase of $0.6 million from $20.3 million at December 31, 2022, even after having paid down $6.9 million of outstanding debt during 2023.
• Total assets at December 31, 2023 were $33.7 million, a decrease of $1.9 million from $35.6 million of assets at December 31, 2022, mainly due to a non-cash impairment charge related to our NDAU cryptocurrency holdings and depreciation of our mining equipment. Our current ratio of 2.03 at December 31, 2023 remains strong but compares to a decrease of 0.18 from our previous current ratio of 2.21 at December 31, 2022.
• Outstanding debt at December 31, 2023 was $3.6 million, a decrease of $6.9 million or 65.9% from the $10.5 million of debt at December 31, 2022, with total liabilities also decreasing by $3.3 million during the comparative periods.
• Total stockholders’ equity at December 31, 2023 was $18.8 million, an increase of $1.4 million or 8.1% from the $17.4 of stockholders’ equity at December 31, 2022.
• Common stock issued and outstanding decreased by 303 million shares from 2.636 billion shares to 2.333 billion shares attributable to strategic stock repurchases, representing a decrease of approximately 11.5% of issued outstanding shares at December 31, 2023; with a further decrease in Q1/2024 of 472 million shares also attributable to strategic stock repurchases, thus further decreasing the issued and outstanding from 2.333 billion to 1.861 billion shares, representing a decrease of 20.2%. When combined, the strategic repurchase transactions we implemented during our third quarter of 2023 and first quarter of 2024, we cumulatively repurchased over 775 million shares, or 29.4% of our issued and outstanding common shares at a blended discount of 54.4% to the then contemporaneous trading market. This resulted in the reduction of Investview’s outstanding capitalization from 2,636 million to 1,861 million common shares.

iGenius - iGenius net revenue for the twelve months ended December 31, 2023, was $56.5 million, an increase of $6.7 million or 13.4%, as compared to $49.9 million for the comparable prior year period; with the increase attributable to a $7.8 million increase in subscription revenue, partially offset by a $1.1 million decrease in NDAU sales.

SAFETek - SAFETek’s net revenue for the twelve months ended December 31, 2023, was $11.4 million, a decrease of 5.0% or $0.6 million over the comparable prior year period. The decrease in net revenue was the result of a considerable increase in Bitcoin mining difficulty, and extreme volatility in the price of Bitcoin during fiscal 2023, as the price range of Bitcoin was between approximately $16,600 and $42,300 with an average price of $29,875 during much of the year until December of 2023 when the value of Bitcoin began to rise above $40,000.

Message from Investview’s CEO – Victor Oviedo

I am pleased to announce the 2023 financial results and operational highlights for Investview. Fiscal year 2023 was a transitional year in Investview’s continued advancement as a fintech company. We achieved strong financial results and made significant progress and performance across our key strategic development objectives and targets, including: (i) sales growth; (ii) business channel expansion; (iii) margin expansion; (iv) reduction in our outstanding debt balance, (v) strategic repurchases of our common stock and; (vi) the firmwide strategic allocation of capital, while maintaining a strong balance sheet as we move into 2024.

Consistent with the Company’s capital allocation priorities, we prepaid and repaid our outstanding debt balance by $6.9 million, or 65.9% to $3.6 million at year end 2023. In addition, as part of our strategic common stock repurchase initiative, we executed and announced during the third quarter of 2023 and first quarter of 2024, the cumulative repurchase of over 775 million common shares, or a decrease of 29.4%, at a blended discount rate of 54.40% to the then contemporaneous trading market. This reduced Investview’s issued and outstanding common shares from 2,636 million to 1,861 million.

Despite executing on these initiatives, we maintained our strong balance sheet as we navigate through 2024 with $20.9 million in cash and cash equivalents. Our current balance sheet position not only gives us flexibility, but it also allows us to continue to invest in and grow our business lines, as well as the ability to complete strategic acquisitions when the right opportunities present themselves.

We continue to actively assess the strengths of the organization and consider strategic initiatives by which we can build on those strengths to diversify and grow our business. As we have disclosed, in the first quarter of 2024, we acquired Opencash Securities, LLC (“Opencash”), an early-stage registered broker dealer. This acquisition is the first step in the planned expansion of Investview’s business into the retail brokerage and financial markets industry, as it positions itself to take advantage of the retail equity and equity options trading market by way of the Opencash online brokerage trading platform. In addition, the acquisition establishes a path for Investview to integrate the Opencash investment platform application with the proprietary algorithmic trading platform we acquired in September 2021.

Fiscal year 2023 also marked the Company’s full return to in-person events, which were met with an overwhelming positive response from our iGenius members and distributors, providing opportunities to re-establish connections and share best practices. The Company hosted more than 25 conventions and regional events across the globe in more than 15 countries with more than 20,000 attendees, as well as hundreds of other corporate-led and distributor-led education and training events. These events helped engage, motivate, inspire and educate our member and distributor base. The Company believes these interactions and marketing initiatives have supported an increase in sales leader retention, growth in our membership and directly helped support our increase in subscription revenue and expansion into new markets globally. Further, we recognize the value that our iGenius distribution network is capable of achieving as it offers a fully developed international sales and marketing platform. With the strategic value of that platform in focus, we are actively evaluating strategic initiatives by which we can expand the mix of unique and differentiated products and services offered through our iGenius distribution network market.

Despite a challenging environment in the digital asset space during much of 2023, SAFETek was able to achieve certain strategic milestones. For example, we completed the expansion and migration of our entire Bitcoin mining operation containing over 5,000+ miners to our new mining facility in the same region of Europe. This move has extended our initiative to use low-carbon and renewable energy sources for our mining operations in Europe. SAFETek has 100% of its Bitcoin mining equipment operating on renewable energy sources of hydro and geothermal energy. This expansion and migration are estimated to extend SAFETek’s total operational hash rate capacity, when effectively operating at 100% of available energy capacity, to an estimated 400+ Petahash per Second (equal to .400 EH/s Exahash per Second). Despite the overall positive trend we experienced during 2023, since the beginning of 2024, our energy supply has been temporarily curtailed by approximately 38%, a direct result of a lack of precipitation in the Northern region of Europe, causing lower than usual water levels that have reduced local hydroelectric energy capacity. While we are hopeful that the low water levels responsible for the energy curtailment are temporary, we are unable to predict when our mining operations will return to pre-2024 levels. As we navigate through 2024, we plan to continue delivering on our growth strategy, by investing in (i) new next-generation equipment; (ii) additional product offerings to further sales growth; (iii) new business channel expansion, including the potential for new strategic acquisitions; (iv) launching our newly acquired broker dealer Opencash and; (v) maintaining our well capitalized balance sheet.

We continue to look at all aspects of our business with a focus on driving top-line growth and expanding our margins. Given our momentum, and the differentiators we are building with our business-channel stack, we are optimistic that the most exciting times for our organization are still to come.

Looking ahead, I am optimistic about Investview’s future long-term growth prospects. Our executive leadership remains committed to finding the right mix of growth initiatives that will leverage the strengths of our organization and, on a long-term basis, add value to our loyal shareholder base. We see tremendous opportunities ahead of us.

Company CFO, Ralph Valvano Comments on 2023 Financial Results

Investview Chief Financial Officer, Ralph Valvano commented, “We experienced expansion in most of our 2023 operating results due to net revenues increasing $6.1 million, or 9.8% from $61.8 million for the year ended December 31, 2022, to $67.9 million for the year ended December 31, 2023, The increase can mainly be explained by a $7.8 million increase in our net subscription revenue, offset by a $1.1 million decrease in our cryptocurrency revenue, and a $0.4 million decrease in our mining revenue. The $7.8 million or 16.1% increase in subscription revenue was due to significant product enhancements and expansion into new markets globally, resulting in substantial growth in our membership; the $0.4 million or 3.84% decrease in mining revenue was mainly the result of a 107% increase in the Bitcoin mining difficulty level, the migration of mining servers to a new data center and increased power and hosting costs, partially offset by the replacement of older less efficient Bitcoin mining equipment with new generation higher performing miners; the $1.1 million or 68.2% decrease in cryptocurrency revenue was due to an overall decrease in the number of sales of NDAU and the August 2023 discontinuation of the NDAU program offering.”

“We will continue to take strategic actions to optimize our cost structure and strengthen and manage our balance sheet. With approximately $20.9 million in cash and equivalents, we have an advantageous path forward to achieving our growth plans. We remain committed to effectively managing capital in today’s challenging environment and believe we are well positioned to continue delivering shareholder value in 2024 and beyond.”

About Investview, Inc.

Investview, Inc., a Nevada corporation, operates a financial technology (FinTech) services company, offering several different lines of business, including a Financial Education and Technology business that delivers a series of products and services involving financial education, digital assets and related technology, through a network of independent distributors; and a Blockchain Technology and Crypto Mining Products and Services business, including leading-edge research, development and FinTech services involving the management of digital asset technologies with a focus on Bitcoin mining and the new generation of digital assets. In addition, we are planning to create a Brokerage and Financial Markets business within the investment management and brokerage industries by, among others, commercializing on a proprietary trading platform we acquired in September 2021. For more information on Investview, please visit: www.investview.com.

About Opencash Securities LLC

Brokerage services are provided by Opencash Securities LLC, a member of FINRA and SIPC. Options involve risk and are not suitable for all investors. Please review Characteristics and Risks of Standardized Options prior to engaging in options trading. Opencash Securities LLC does not provide investment advice. Please consult with investment, tax, or legal professionals before making any investment decisions. All investments involve risks, including the possible loss of capital. Check the background of this investment professional on BrokerCheck. Opencash Securities LLC is a wholly-owned subsidiary of Investview, Inc.

Forward-Looking Statement

All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies, and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may,” “should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. These forward-looking statements are based on Investview’s current beliefs and assumptions and information currently available to Investview and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Our forward-looking statements expect that we will ultimately be able to develop retail brokerage operations at Opencash, although it is currently in the pre-revenue and early stage of its operations. We plan to do this by, among others, investing the funds we believe are necessary to develop the infrastructure necessary to achieve retail operations. This includes, among others, the on-boarding of customer support personnel and software developers, the development and implementation of a marketing strategy, the securing of necessary securities clearing arrangements, and the continued development of the online Opencash trading platform and completing its integration with the proprietary algorithmic trading platform we acquired in September 2021. Despite our best efforts, there can be no assurance that we will be able to achieve these objectively on a timely basis, if at all, as the development of an early-stage securities brokerage business involves inherent regulatory and operational risks and uncertainties. Our forward-looking statements also assume that the recent water shortages responsible for a 38% curtailment in our hydroelectric energy supply will be addressed within the near-term and will not have a long-term negative impact on our Bitcoin mining operations, although we are unable to predict when our mining levels will return to pre-2024 levels. More information on potential factors that could affect Investview’s financial results is included from time to time in Investview’s public reports filed with the U.S. Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The forward-looking statements made in this release speak only as of the date of this release, and Investview, Inc. assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.

Investor Relations
Contact: Ralph R. Valvano
Phone Number: 732.889.4300
Email: pr@investview.com

Reconciliation of Gross Revenue to Net Revenue (unaudited)

As used in this report, Gross Revenues are not a measure of financial performance under United States Generally Accepted Accounting Principles (“GAAP”). Gross Revenues are presented as they are used by management to understand the total revenue before certain items such as refunds, incentives, credits, chargebacks and amounts paid to third party providers. The non-GAAP Gross Revenue measure is a supplement to the GAAP financial information. A reconciliation between Gross Revenue (non-GAAP) and Net Revenue is presented in the table below.

Gross Revenue (non-GAAP) to Net Revenue reconciliation for the twelve months ended December 31, 2023 is as follows:

	Subscription Revenue			Cryptocurrency Revenue			Mining Revenue			Miner Repair Revenue			Total
Gross billings/receipts	$	60,516,836		$	990,785		$	11,348,156		$	23,378		$	72,879,156
Refunds, incentives, credits, and chargebacks		(4,480,784	)		-			-			-			(4,480,784	)
Amounts paid to supplier		-			(477,500	)		-			-			(477,500	)
Net revenue	$	56,036,052		$	513,285		$	11,348,156		$	23,378		$	67,920,871

Gross Revenue (non-GAAP) to Net Revenue reconciliation for the twelve months ended December 31, 2022 is as follows:

		Subscription Revenue				Cryptocurrency Revenue				Mining Revenue				Miner Repair Revenue				Digital Wallet Revenue				Total
Gross billings/receipts		$	51,454,922			$	3,189,074			$	11,796,215			$	173,980			$	7,156			$	66,621,347
Refunds, incentives, credits, and chargebacks			(3,194,725	)			-				-				(1,924	)			-				(3,196,649	)
Amounts paid to supplier			-				(1,574,506	)			-				-				(1,288	)			(1,575,794	)
Net revenue		$	48,260,197			$	1,614,568			$	11,796,215			$	172,056			$	5,868			$	61,848,904

FAQ

What was the percentage increase in gross revenue for Investview for the twelve months ended December 31, 2023?

Gross revenue increased by 9.4% to $72.9 million.

How much did Investview reduce its outstanding debt by at year-end 2023?

Investview reduced outstanding debt by 65.9% to $3.6 million.

What strategic initiative did Investview undertake regarding common stock repurchases?

Investview repurchased over 775 million common shares, leading to a 29.4% decrease in issued and outstanding shares.

What acquisition did Investview make to expand into a new industry?

Investview acquired Opencash Securities, to enter the retail brokerage and financial markets industry.

Why did SAFETek experience a decrease in net revenue?

SAFETek's net revenue decreased by 5.0% due to Bitcoin mining difficulties and price volatility.