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Mastermind, Inc. (OTC-PINK: MMND) reported strong financial results for the fiscal year ending September 30, 2022. Revenue reached $4,540,000, a 19% increase compared to 2021, while operating income soared to $738,000, a remarkable $753,000 jump or 5020%. Gross profit also rose by 29% to $3,006,000, and stockholders' equity increased by 41% to $2,694,000. The company attributes its success to effective marketing strategies targeting blue-chip clients, and it anticipates continued growth supported by recent acquisitions.
Positive
Operating income increased by $753,000 or 5020% over the prior year.
Gross profit rose 29% to $3,006,000 compared to the previous year.
Stockholders' equity increased by 41% to $2,694,000.
Negative
None.
ATLANTA--(BUSINESS WIRE)--
Mastermind, Inc. (OTC QB: MMND), a leading vertically-integrated digital marketing company that designs, creates and activates marketing initiatives for global brands, today announced financial results for its fiscal year ending September 30, 2022.
Highlights for the 12-month period ending September 30, 2022 include:
Operating income was $738,000, an increase of $753,000 or 5020% over the comparable period in 2021
Revenue was $4,540,000, an increase of 19% over the comparable period in 2021
Gross profit was $3,006,000 an increase of 29% the comparable period in 2021
Stockholders’ equity was $2,694,000 an increase of 41% over the comparable period in 2021
“Mastermind has done an outstanding job of using influencer, content, social and mobile marketing to drive results for blue-chip clients,” said Mike Gelfond, president of Mastermind. “We are on a trajectory of growth, with operating income up $753,000, which is more than 5000% higher than where we were last year. We’re also excited about recent business acquisition news and others in our pipeline, which position us well for continued growth and success.”
Detailed financial information can be found in Mastermind’s Annual Report on Form 10-K for the period ended September 30, 2022, as filed with the Securities Exchange Commission on January 12, 2023.
About Mastermind, Inc.
Mastermind, Inc. provides thinking that drives results for leading marketers. It has 40 years of experience in dozens of industries helping drive results for leading brands. Mastermind has a total, data-driven approach that drives brand consideration, trial, loyalty, and advocacy. The company has extensive marketing expertise in Content, Digital, Mobile, Influencer, Social, Promotion, Channel Optimization, and Digital Issues Management. This allows Mastermind to create and execute multi-dimensional campaigns that drive results. For more information about Mastermind, Inc., please visit: www.MastermindMarketing.com.
Forward-Looking Statements
This press release of Mastermind, Inc. (the “Company”) contains, or may contain, among other things, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results (including, without limitation, market acceptance of the Company’s services; competition from existing products/services or new products/services that may emerge; the implementation of the Company’s business model and strategic plans for its business and its services; estimates of the Company’s future revenue, expenses, capital requirements and need for financing; and developments relating to the Company’s competitors) may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
For the fiscal year ending September 30, 2022, Mastermind reported revenue of $4,540,000, operating income of $738,000, and gross profit of $3,006,000.
How much did Mastermind's operating income increase?
Mastermind's operating income increased by $753,000 or 5020% compared to the previous year.
What is the stock symbol for Mastermind?
The stock symbol for Mastermind is MMND, traded on OTC-PINK.
When was Mastermind's financial report filed with the SEC?
Mastermind's financial report for the year ended September 30, 2022, was filed with the SEC on January 12, 2023.
