Solar Integrated Roofing Announces $100 Million Preliminary 12 Month Revenue Guidance

Rhea-AI Summary

Solar Integrated Roofing Corp. (OTC PINK:SIRC) announced preliminary revenues are expected to reach at least $100 million for the 12 months ending May 31, 2022. The CEO highlighted the company's rapid acquisition strategy of roofing and solar installers, which has built a significant customer base. The company is focused on both acquisitive and organic growth while minimizing shareholder dilution. The final revenue figures will be confirmed upon completion of annual audits. The company specializes in solar energy systems, roofing, and related electrical contracting work.

Positive

• Preliminary revenue expected to exceed $100 million for the next 12 months.
• Successful acquisitions creating a significant customer base.
• Focus on minimizing shareholder dilution.

Negative

• Revenue figures are preliminary and subject to audit verification.
• Dependence on third parties and general market conditions could impact results.

EL CAJON, CA / ACCESSWIRE / May 20, 2021 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power and roofing systems installation company, announced today that revenues in the 12 months ended May 31, 2022, preliminary revenues are expected to grow to at least $100 million.

"We accelerated our rapid pace of acquisitions in 2021, rolling up roofers as well as solar and battery installers - creating a true platform company with the back office and sales capabilities to scale nationwide," said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. "When taking into account our recently acquired companies, we've built a significant customer base across the SIRC family of companies. While there is seasonality inherent to our business and the revenue will not be divided evenly month to month, we expect that we will generate at least $100 million of revenue over the next 12 months with the acquisitions we have announced to-date.

"We are realizing both acquisitive and organic growth on all fronts while minimizing dilution. Looking ahead, we continue to populate our acquisition pipeline which could further grow this $100 million revenue guidance figure. I look forward to continued operational execution in the months ahead, working closely with our team to create sustainable value for our shareholders over the long-term," concluded Massey.

Final recognized revenue is subject to the Solar Integrated Roofing's annual and quarterly audits and will accordingly be released with the Company's audited financial statements and related annual and quarterly reports once fully reporting.

About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC PINK:SIRC), is an integrated, single-source solar power and roofing systems installation platform company specializing in commercial and residential properties throughout the United States. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com

Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

Investor Relations Contact:
Lucas A. Zimmerman
Senior Vice President
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

SOURCE: Solar Integrated Roof Corp.

View source version on accesswire.com:
https://www.accesswire.com/648079/Solar-Integrated-Roofing-Announces-100-Million-Preliminary-12-Month-Revenue-Guidance

FAQ

What is Solar Integrated Roofing's expected revenue for 2022?

Solar Integrated Roofing expects preliminary revenues to exceed $100 million for the 12 months ending May 31, 2022.

How has Solar Integrated Roofing grown its customer base?

The company has accelerated its acquisitions of roofing and solar installers, creating a substantial customer base.

What is the impact of audits on Solar Integrated Roofing's revenue projections?

Final revenue figures are subject to annual audits, meaning the preliminary figures may change.

What types of services does Solar Integrated Roofing provide?

The company specializes in solar energy systems, roofing, HVAC, and electrical contracting.

What risks does Solar Integrated Roofing face regarding its revenue?

The company's revenue projections depend on external factors such as market conditions and reliance on third parties.