Mastermind Revenue Up 22% for Q1 Ending 12/31

Rhea-AI Summary

Mastermind, Inc. (OTC-PINK:MMND) reported a strong financial performance for Q1 ending December 31, 2022. Revenues increased by $185,000, representing a 22% growth year-over-year. The company's gross profit rose by $88,000, marking a 17% increase compared to the same quarter last year. Despite typically slower revenue months, Mastermind maintains a positive outlook, bolstered by a robust pipeline and anticipated EBITDA from a recently announced acquisition. The details of the financial results can be found in the company’s 10-Q report filed on January 21, 2023.

Positive

• Revenue increased by $185,000 (22% growth year-over-year)
• Gross profit rose by $88,000 (17% increase compared to the previous year)
• Positive outlook supported by a robust pipeline and anticipated EBITDA from an acquisition

Negative

• None.

ATLANTA--(BUSINESS WIRE)-- Today, Mastermind, Inc. (OTC QB:MMND) – a leading vertically-integrated digital marketing firm specializing in designing, creating, and activating marketing campaigns for global brands - released its financial results for the first quarter ending December 31, 2022.

The 3-month period ending December 31, 2022 showcased impressive growth for Mastermind:

• Revenues rising by $185,000 – an increase of 22% compared to the same period in the previous year.
• Gross profit showed significant improvement with an increase of $88,000 - a notable 17% rise over the comparable period.

"Mastermind has delivered yet another impressive quarter, despite the historically slower revenue and profitability months of October, November, and December, which are heavy client planning periods. With a robust pipeline and a positive outlook for the next nine months, we are optimistic about the balance of the fiscal year. Additionally, the anticipated income and EBITDA from the recently announced acquisition LOI further strengthen Mastermind’s likelihood for another highly successful year," stated Mike Gelfond, president of Mastermind.

For a comprehensive breakdown of Mastermind's financial performance, please refer to the company's Quarterly Report on Form 10-Q for the period ending December 31, 2022. This report was filed with the Securities Exchange Commission on January 21, 2023, and contains detailed financial information.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005919/en/

Mastermind Investor Relations

investorrelations@mastermindmarketing.com

Source: Mastermind, Inc.

FAQ

What were Mastermind's total revenues for Q1 2022?

Mastermind's revenues for the first quarter ending December 31, 2022, were $185,000, marking a 22% increase compared to the same period last year.

How much did Mastermind's gross profit increase in Q1?

Mastermind's gross profit increased by $88,000, a 17% rise over the comparable period.

What is the stock symbol for Mastermind?

The stock symbol for Mastermind is MMND.

When was Mastermind's Q1 2022 financial report filed?

Mastermind's Q1 financial report was filed with the SEC on January 21, 2023.

What is Mastermind's outlook for the next fiscal year?

Mastermind has a positive outlook for the next nine months, supported by a robust pipeline and anticipated income from a recent acquisition.