SRAX Announces Full Year and Q1 2022 Revenue Guidance

Rhea-AI Summary

SRAX, a financial technology company, has announced its revenue guidance for 2022, projecting revenues of $46M - $48M, reflecting a 46%-52% increase over 2021's estimated $31.5M. For Q1 2022, the company expects revenues of $11.5M, which represents a 111% increase compared to Q1 2021. The company's platform Sequire has experienced growth in both subscribers and functionality, contributing to significant revenue and customer renewals. CEO Christopher Miglino expressed confidence in achieving the largest quarterly revenue in Q1 2022.

Positive

• 2022 revenue guidance of $46M - $48M indicates a 46%-52% growth over 2021.
• Q1 2022 revenue guidance of $11.5M, showing a 111% increase from Q1 2021.
• Strong growth in Sequire platform subscribers and functionality.

Negative

• None.

• Full Year 2022 guidance of $46-48M, an increase of 46% - 52% over 2021 unaudited revenue of approximately $31.5M.
• Q1 2022 guidance of $11.5M, a 111% Increase over Q1 2021 revenue.
• Q4 2021 booking meets expectations.
  

LOS ANGELES, Jan. 10, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, today, announced revenue guidance for 2022.

The Company expects revenues of $11.5 million for the first quarter and full-year revenues of $46M - $48M. Last year the Sequire platform grew both in subscribers and functionality, leading to significant revenue growth and customer renewals. This year Sequire has a number of significant releases that will continue to add to the value of the platform.

“Our team did excellent work in 2021, meeting and exceeding our guidance. The nature of our annual contracts provides us exceptional visibility into revenue,” said Christopher Miglino, Founder and CEO of SRAX. “We are projecting that we will have our largest quarter ever in Q1 of 2022. With an acceleration in sales at the end of Q4, we are very comfortable in providing a full-year, 2022 guidance of $46-$48M,” added Miglino.

About SRAX
SRAX (NASDAQ: SRAX) is a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit srax.com and mysequire.com.

Cautionary Statement Regarding Forward-Looking Information:

This news release contains "forward-looking statements'' made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and may often be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Specific risks and uncertainties that could cause our actual results to differ materially from those expressed in our forward-looking statements include risks inherent in our business, and our need for future capital. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in SRAX's periodic reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2020, its Quarterly Reports on Form 10-Q as well as and in other reports filed with the SEC. We do not assume any obligation to update any forward-looking statements.

Contact
Bri Kelvin
Investors@srax.com

Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What is SRAX's revenue guidance for 2022?

SRAX projects revenues of $46M - $48M for 2022.

How much revenue does SRAX expect in Q1 2022?

SRAX expects $11.5M in revenue for Q1 2022.

What percentage increase does SRAX predict for 2022 revenue compared to 2021?

SRAX predicts a 46%-52% increase in revenue for 2022 compared to 2021.

What factors contributed to SRAX's revenue growth?

The growth is attributed to an increase in subscribers and functionality on the Sequire platform.