RDE Inc. Announces Fiscal Year 2021 Results
RDE, Inc. (OTCQB: RSTN) reported a 26% revenue increase to $3.3 million for 2021 compared to $2.6 million in 2020. However, the company reported a net loss of $4.9 million, a decline from a $3.7 million loss in the prior year, with a net loss per share of $0.41 versus $0.61 in 2020. The company introduced several initiatives, including a subscription-based digital marketing program for restaurants and partnerships aimed at enhancing its service offerings. RDE remains optimistic about future growth driven by strategic partnerships and market demand.
- Revenue increased 26% to $3.3 million in 2021.
- Launched new subscription-based digital marketing program.
- Established partnerships with Performance Foodservice and AMAC.
- Net loss increased to $4.9 million in 2021.
- Still reporting a net loss per share of $0.41.
ATLANTA, GA, March 14, 2022 (GLOBE NEWSWIRE) -- RDE, Inc. (OTCQB:RSTN) (the "Company"), the owner and operator of Restaurant.com, the nation's largest restaurant-focused digital deals brand, is pleased to announce financial results for the fiscal year ended December 31, 2021.
Ketan Thakker, Chief Executive Officer of RDE, Inc., commented, “I want to emphasize our view of the Company’s importance to the communities where we have a presence and of our ongoing focus on keeping our employees safe while supporting customers during the pandemic. Throughout 2021, we grew our business while operating in the challenges posed by COVID-19, all of which enabled us to expand our operations as a result of the tenacity and resilience our staff and customers had throughout the year.”
Key Financial Highlights:
- Revenues for the year ended December 31, 2021 increased
26% to$3.3 million , as compared to$2.6 million in the fiscal year for 2020. - Net loss was
$4.9 million in 2021, as compared to a loss of$3.7 million in 2020. - Net loss per share common share was
$0.41 in 2021, as compared to a net loss per share of$0.61 in 2020
"We continue to see good momentum in our business as customers are looking to modernize their organizations for quickness and choices,” continued Mr. Thakker. “As we continue our growth and expansion, we have a number of initiatives in place that we believe will support our long-term plans as well as capitalizing on the partnerships and agreements we started last year.”
Key Business Highlights in 2021:
- Launched Subscription-Based Digital Marketing Program for Restaurants
- Launched Curated Deals on Digital Marketplace
- Expanded Travel and Entertainment Consumer Product Lines
- Established Partnership with Performance Foodservice, a division of Performance Food Group Company (NYSE:PFGC)
- Updated Restaurant.com with Improved Capabilities
- Expanded Relationship with Chef and Restaurateur Fabio Viviani
- Added Legendary Restaurateur and Athlete Bo Jackson to our Advisory Board
- Partnered with Association of Mature American Citizens to Offer Savings to its 2.3 Million Members
About RDE, Inc.
RDE, Inc. (OTCQB: RSTN) (Restaurant, Dining and Entertainment) is a pioneer in the restaurant deal space and the nation’s largest restaurant-focused digital deals brand. Founded in 1999, Restaurant.com, Specials by Restaurant.com and our Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail and entertainment deal options nationwide at over 184,000 restaurants and retailers. Restaurant.com prides itself on offering the best deal, every meal. Our restaurant certificates and gift cards allow customers to save at thousands of restaurants across the country with just a few clicks.
For more information, visit: www.rdeholdings.com and https://www.restaurant.com.
Forward-Looking Statements
Press Releases may include forward-looking statements. In particular, the words “believe,” “may,” “could,” “should,” “expect,” “anticipate,” “estimate,” “project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Accordingly, you should not place undue reliance on these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the company. Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although RDE, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, RDE, Inc. is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability identify a suitable business model for the corporation.
Investor Relations Contact
Andrew Barwicki
516-662-9461 / andrew@barwicki.com
FAQ
What are RDE, Inc.'s revenue figures for 2021?
What was the net loss for RDE, Inc. in 2021?
How did RDE, Inc.'s earnings per share change in 2021?
What initiatives did RDE, Inc. launch in 2021?
What partnerships did RDE, Inc. establish in 2021?
