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Fern was able to sit back and see how others made mistakes so it can become even stronger as FTX projects implode, a major push higher is possible starting tomorrow based on it being 6 months under 50 (5/17/22) on the Williams indicator.
Yup the only hope in many stocks these days is that crypto hack money is laundered through it, otherwise it has been endless RS and dilution in NASDAQ
Bitgift and any connection to it was a shareholder creation, fake Twitter Accounts, website etc, to induce company communications, all imo
Heading back to the 50 day at .007 imo
OTC waiting for 10-k filing imo
Could boom to 11.00 on Poland missile strike, need building tools in world war 3 rumor, mass production etc, imo.
Commercial investors need private lenders with specified deal making capabilities that big banks don’t offer, especially when rates rise, if this can prove it is one that can pass through loan origination fees to the public shell somehow. That’s how it should be working no evidence that it is working.
“7:32a ET 11/14/2022 - Dow Jones
Freight Technologies Initiated at Buy by Chardan Capital
Ratings actions from Benzinga: https://www.benzinga.com/stock/FRGT/ratings
(END) Dow Jones Newswires
November 14, 2022 07:32 ET (12:32 GMT)”
Their price target is 2.25. Somebody knows something, something big to make that recommendation imo and as all can see, in the opinion of the investor community. Will be interesting if we close at .62 (upper limit on 1 month bollinger bands) and then get positive news after-market.
Both stocks need a r/s, and Sayona took Jourdan to the cleaners on the deal, Jourdan likely had no leverage short term while Sayona has the ability to process lithium in 23 Q1, just no way for me to invest in 8 billion share OS Canadian company months in advance of production, will check back after r/s if any, all imo.
Moni laundering ? Think of all the crypto funds being hacked and withdrawn from right now, how will that Moni get “cleaned”? No way to predict where or when a massive amount of buying begins for what people will say is for “no reason”.
Should settle around 1.40 near term at the gap there, then a six month wait for quarterly earnings to get to new highs from there, nice run though, all imo.
Harry etc Dumping shares into the Game of Thrones house of the Dragon artificial interest in the stock, as predicted, this stock should have been deleted by Finra imo
“Peace on Mars”, meant, “peace, on mars”… as in, “we abandoned the company, peace, we out.” Imo. Congrats to those who foresaw The great hurricane nichole SP run of 2022.
Still waiting for 12.35
Not good imo:
“Of the $3,279,262 of obsolete inventory that was written off during the nine months ended September 30, 2022, $2,479,798 of it was recognized during the quarter ended September 30, 2022. This write-off primarily related to $2,313,902 worth of certain 2 mL disposable vapes written off due to clogging issues (the “Clogged Vapes”). Management believes that the clogging was caused by the summer heat wave (the third hottest summer on record in the USA). The heat caused the oil in the Clogged Vapes to lose viscosity, so more oil solidified in the coils as they were brought to room temperature. Because these Clogged Vapes did not have preheat or variable voltage settings, the oil could not be unclogged from the coils. Management discontinued the sale of the Clogged Vapes during the third quarter. Lifted’s 2 mL disposable vapes have now been superseded by 3 mL disposable vapes that do have preheat and variable voltage settings, so management expects that this write off of Clogged Vapes should be a one-time occurrence. Management is attempting to negotiate an agreement pursuant to which the manufacturer of the Clogged Vapes will subsidize or share, in some fashion, in the losses that have been sustained by Lifted due to the Clogged Vapes; however, there can be no guarantees or assurances whatsoever that such an agreement to subsidize or share in such losses can be successfully negotiated.”
“Capital Raise
Cash on hand is currently limited, so in order to close future acquisitions, and potentially also in order to pay other corporate obligations such as certain bonuses, our company-wide bonus pool, and/or income taxes, it may be necessary for us to raise substantial additional capital, and no guarantee or assurance can be made that such capital can be raised on acceptable terms, if at all.
We are currently exploring the possibility of raising $5 million or more through some combination of debt and equity offerings in order to purchase for $1.375 million the building located at 5511 95th Avenue, Kenosha, Wisconsin, that is currently being rented by Lifted, to pay off other liabilities of the Company and Lifted such as certain bonuses, our company-wide bonus pool, and/or income taxes, and to pay transactional fees and expenses. If we proceed forward with an equity raise, it may be in conjunction with a potential listing of our common stock on a stock exchange. However, there can be no guarantee or assurance that any such debt and/or equity capital raise or listing will be completed on acceptable terms, if at all.”
-From todays 10-q report
https://www.otcmarkets.com/filing/html?id=16194796&guid=Pt_-kFtjc_G9dth
“8:00a ET 11/14/2022 - Globe Newswire
Jourdan Resources & Sayona Mining Enter into Earn-in Arrangement for Vallee Lithium Project
Sayona to Acquire a 9.99% Shareholding in Jourdan ResourcesGlobeNewswireNovember 14, 2022
Highlights
Earn-in agreement over Jourdan Resources' Vallee lithium project allows Jourdan to further expand its exploration towards a potential resource and future mine.
Sayona to acquire a 9.99% shareholding in Jourdan Resources for C$1.5 million.
Sayona's subsidiary, North American Lithium Inc., ("NAL") has the right to earn up to a 51% stake in the Vallee lithium project, based on milestones.
Agreement allows for ore on Vallee to be fast-tracked into the NAL plant for processing.
Through earn-in and joint venture arrangement, Jourdan & Sayona will work in tandem to advance the Vallee lithium project as well as the region itself, including an extensive drill & exploration program for the Vallee lithium project.
Jourdan intends on swiftly expanding exploration throughout its three projects, the Vallee lithium project, Baillarge lithium-moly, and Preissac - La Corne ithium.
Sayona to appoint nominee to Jourdan's board of directors.
TORONTO, Nov. 14, 2022 (GLOBE NEWSWIRE) -- JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF; FRA:2JR1) ("Jourdan", "JourdanResources", or the "Company") is pleased to announce that it has signed an earn-in agreement and joint venture agreement (the "Agreement") with Sayona Mining Limited's (ASX: SYA; OTCQB: SYAXF) ("Sayona") subsidiary, North American Lithium Inc., in relation to the Company's Vallee lithium project. The Company is also pleased to announce that Sayona's subsidiary, Sayona Quebec Inc., has entered into an agreement with the Company to acquire 27,000,000 common shares of the Company (the "Common Shares"), representing approximately 9.9865% of the issued and outstanding Common Shares (on a post-closing basis), at a price of $0.0556 per Common Share for gross proceeds of $1,501,200 (the "Private Placement"). The Private Placement is expected to close within two (2) business days. Upon closing of the Private Placement, Sayona will have the right to nominate one director to the Company's board of directors. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four-months and one day. Completion of the Private Placement is subject to a number of conditions, including without limitation, receipt of TSX Venture Exchange approval. No finder's fees will be paid in connection with the Private Placement. The Company intends to use the net proceeds of the Private Placement for working capital and general corporate purposes.
Rene Bharti, Jourdan's chief executive officer, commented, "We are tremendously excited to begin what we feel will be a long-term partnership with Sayona. Given the incredible progress they have made at the NAL mine, we anticipate that this partnership will allow Jourdan to advance the exploration and development of its Vallee lithium project toward production without having to incur many of the associated costs. Indeed, we understand that Sayona has complete infrastructure in place to begin lithium production from its NAL properties in Q1 of next year. We are very proud to be working with our neighbours, and we look forward to welcoming a top Sayona executive to the Jourdan board in order to further cement our partnership."
"We are excited to start a new chapter in the lifecycle of Jourdan Resources by joining forces with Sayona and neighbouring NAL", says Dr. Andy Rompel, Exec. Chairman. "We believe that this partnership will be tremendously beneficial mutually as we anticipate that both parties can contribute significantly to the advance of exploration and potential resource estimation on our flagship project, Vallee. We expect that this partnership will increase the speed of exploration for Jourdan, as well as give us the unique ability to process our ore through the NAL plant."
Under the Agreement, NAL has the right to earn up to a 51% stake in 28 claims within the Vallee project, which includes pegmatite targets located close to and along strike from NAL's orebody. This is based on NAL spending C$4 million within the first year to earn a 25% interest and an additional C$6M within two years to earn a further 25% interest. NAL also has the right to increase its interest by an additional 1%, to an aggregate 51% interest, by completing a feasibility study and arranging funding for the construction of a mine at Vallee.
In connection with the Agreement, Jourdan has transferred 20 claims outright to Sayona to provide for potential future infrastructure expansion at the NAL mine and its processing facility.
Sayona's Managing Director, Brett Lynch, stated that the Agreement provided a substantial boost for NAL and its future production potential. "Sayona continues to review opportunities for expansion and this earn-in agreement is an excellent opportunity to swiftly expand NAL's potential resource base, paving the way for an increase in NAL's future mine production capacity," he said.
He continued, "With mineralised spodumene pegmatite dykes previously mined by NAL continuing directly onto Jourdan's claims, we are keen to quickly launch new drilling. Significantly, the additional leases acquired under this agreement will also allow for increased flexibility and optimisation of the NAL mine design, production and infrastructure."
DLA Piper (Canada) LLP acted as legal counsel to Jourdan. Desjardins Capital Markets acted as exclusive financial adviser and McCarthy Tetrault LLP acted as legal counsel to Sayona for the transaction.”
Gamma squeeze to 75.00 may be on
With impressions numbers like these it will be tough to avoid comparison with Google
The US Government via the Feds manipulation of financial markets and the OTC, in conjunction with its CIA controlled media down-talking the market suggestively, has decided there are already enough wealthy people and they want people to buy US Treasuries and government bonds to fund their windmills and solar projects, maybe some of those projects are publicly traded, midterm results confirmed that will continue, they can prove that theory wrong by removing the CE pre-market imo.
“On August 10, 2022, to further improve the Company's balance sheet and enable the Company's growth, the Company entered into a Common Stock Purchase Agreement that enables the Company to raise up to $30 million of additional equity as funding needs arise. -- During the quarter, the Company raised $3.54 million through the issuance of shares under the Common Stock Purchase Agreement.”
The amount raised in Q4 is unknown but likely at least something, because Q4 began Oct 3 with a close of 2.20 per share and today we are at 1.78. Hopefully one day they make enough profit to cancel that agreement.
“7:01a ET 11/14/2022 - Dow Jones
Press Release: Sidus Space, Inc. Reports Third Quarter 2022 Results and Business Update
Sidus Space, Inc. Reports Third Quarter 2022 Results and Business Update
-- Revenue Increased 164% in quarter ended September 30, 2022 compared to quarter ended September 30, 2021 -- Revenue increased 461% on a year-to-date basis for the period ended September 30, 2022 compared to 2021 -- Gross profit increased 821% on a year-to-date basis for the period ended September 30, 2022 compared to 2021 -- $30 Million Equity Line facility secured for future growth CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--November 14, 2022--
Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection, today announced financial results for the third quarter ended September 30, 2022 and provided company business updates. Sidus will webcast a conference call to discuss the results at 9:00 am Eastern Time. The webcast is available on Sidus' Investor Relations website at https://investors.sidusspace.com. A replay of the call will be available on the site for three months.
"Sidus once again grew revenue during the quarter as compared to the previous year, and we continue to make solid progress on our fiscal 2022 plan as well as a number of our strategic initiatives. With revenue growth of over 450% as compared to the same year-to-date 2021 period, we are pleased with our progress in the third quarter. We signed several new and significant contracts and partnerships, and we expect these agreements to generate future revenue streams driving increased annual recurring revenue," said Teresa Burchfield, Sidus' CFO.
"We saw significant progress implementing our Space-as-a-Service strategy including launch agreements for our proprietary LizzieSat(TM) with SpaceX, securing propulsion technology from Dawn Aerospace that will allow for more precise missions and additional time in orbit, and enabling critical space weather data collection in partnership with Mission Space. Our manufacturing division continues to expand relationships throughout the industry as represented by our continued momentum with large purchase orders," said Carol Craig, Founder and CEO of Sidus Space. "We are excited to execute on the massive opportunity offered by the emerging space economy and are confident our vertically-integrated offerings position us well to capture significant market share. As we near our one year anniversary as a public company, I am thrilled with the acknowledgment our team is receiving as they continue to scale up to meet increasing demand for our products and services, as we prioritize progress toward profitability and creating value for our shareholders."
Financial Highlights for the Quarter and Year-to-Date Period Ended September 30, 2022
-- Revenue increased to $1.32 million for the three months ended September 30, 2022 from $500,000 in the comparable period of 2021, an increase of 164%. -- On a year-to-date basis, the Company has generated gross profit of 25% as compared to (19%) for the previous 2021 period. -- On a year-to-date basis, the Company's cost of revenue has benefited from variation in types and lengths of contracts and an increase in its higher margin Satellite-as-a-Service business line.
Capital Structure
-- As of September 30, 2022, the Company had $4.4 million in cash. The Company has continued to invest in expanding operations and in equipment related to the satellite side of its business. -- On August 10, 2022, to further improve the Company's balance sheet and enable the Company's growth, the Company entered into a Common Stock Purchase Agreement that enables the Company to raise up to $30 million of additional equity as funding needs arise. -- During the quarter, the Company raised $3.54 million through the issuance of shares under the Common Stock Purchase Agreement.
Operational Highlights
The Company continues to take meaningful steps toward the inaugural launch of its LizzieSat(TM) Constellation:
-- The Company signed a memorandum of understanding ("MOU") with Exo-Space to integrate Exo-Space's FeatherEdge Data Processing Platform into its hybrid 3D printed satellite, LizzieSat(TM). Sidus was also awarded a contract for integration and launch of Exo-Space's artificial intelligence software technology on Earth observation satellites. -- A multi-launch agreement was signed with SpaceX for five LizzieSat rideshare missions. These 5 satellite missions will support previously announced customers that Sidus continues to layer into its pipeline. -- The Company signed an MOU with Momentus Inc. to explore launching its LizzieSat(TM) satellites utilizing Momentus' Vigoride Orbital Service Vehicle ("OSV"). The MOU also seeks to foster collaboration between the two companies to use their joint capabilities to seek new opportunities together, expanding both firms' reach. -- The Company signed a memorandum of understanding with Mission Space for a partnership for space weather intelligence data collection, which is expected to create an incremental revenue stream through the sale of this data in addition to using it for its own internal purposes. -- An agreement with Dawn Aerospace was signed to implement its green, chemical propulsion technology into LizzieSat(TM) to provide precision pointing and maneuvering otherwise not available to smaller cubesats. Propulsion also provides a longer life on orbit which means continued data transfer and revenue opportunity.
The Company continues to build key relationships with customers in its mission-critical hardware manufacturing business:
-- The Company reported that over $1.9 million in new purchase orders were received during the quarter for space and defense hardware and services indicating sustained growth in this revenue stream. -- Sidus announced that it will continue producing hardware to support Parsons Corporation's Tranche 1 (T1) launch. As part of this arrangement, Sidus Space will fabricate flight cables for Parsons evolved secondary payload adapter (ESPA) ring on T1.
The Company was also acknowledged with multiple awards for technological distinction, leadership and emerging talent.”
Bloomberg today: “Big Investors Are Giving Up on Crypto Markets Going Mainstream
Institutional investors were souring on cryptocurrencies even before this week. The sudden downfall of Sam Bankman-Fried’s FTX.com may have permanently damaged their prospects of being included in mainstream portfolios.
While plenty of industry die-hards remain, many professional money managers are saying the case for crypto as a portfolio diversifier or digital gold has been debunked. The losses are too great and the market structure is too risky, they say.”
If Moni has a solution to solve the crypto industry failure now is the moment.
Some prominent retail chains only allow for store credit, not cash, upon returning an item. If Moni allowed cash redemptions hackers may find a way to steal that fund, whatever pool of money is set aside for cash redemptions. Retail stores don’t keep 10 k at the register in case a few people return 2,000 dollar barbecues for cash, you’d have to hire some expert customer service to prevent fraud and further, cash redemptions would encourage criminal organizations to launder money in and out of MONI’s fund by using it as a temporary storage, maybe the criticism of that strategy isn’t as well thought through as assumed.
130 projects involved in the FTX debacle, one thing this project has going for it is that it hasn’t really gotten started to any tangible extent, it isn’t affected by Bitcoin price drops as the FED raises rates and isn’t associated in the public mind as being part of “the old way in crypto”, which apparently is to get stolen from in an FTX-like scam, could this be a worthless scam, yes, but if just 1 out of 130 crypto developers can fix it and make it actually work then they can market it as the solution to the exchange theft problems that are bringing down the entire industry in contagion.
Crypto investors returning to invest in valuable companies with tangible products and services after the FTX exchange bankruptcy and contagion, could see a trillion dollars pour into small cap tech
Maybe it’s an idea that one of these bankrupt billionaires has always wanted to try but couldn’t because their programmers rejected their idea or were too far along in their coding to create or apply a bitgift type product or functionality.
“Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy
PUBLISHED FRI, NOV 11 20229:21 AM ESTUPDATED 42 MIN AGO
Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for bankruptcy.
Alameda Research and approximately 130 additional affiliated companies are part of the voluntary proceedings.”
Lots of things happening right now, lots of deals behind the scenes in crypto a realignment with big names, big investors looking for new projects, lots of possibilities for MONI if it steps up to the moment.
The World Cup and Handle
Monday Earnings https://liftedmade.com/
3 months since last PR:
“LFTD Partners Inc. (OTCQB: LIFD) Q2 2022 revenue increased 151% to $16.8 million, up from $6.7 million in Q2 2021.
Q2 2022 Compared to Q2 2021:
Operating margin increased 3.14% to 26.40%, up from 23.25%
Net income increased 102% to $3.2 million up from $1.6 million- the eighth consecutive quarter of positive GAAP net income
Basic earnings per share ("EPS") increased 64% to $0.23 per share, up from $0.14
Diluted EPS up 82% to $0.20 per share, up from $0.11
Basic and diluted weighted average shares outstanding for the three months ended June 30, 2022 were 14.1 million and 15.9 million respectively
Balance Sheet Highlights - June 30, 2022 Compared to December 31, 2021:
Cash on hand increased 134% to $3.8 million up from $1.6 million
Inventory increased 164% to $10 million, up from $3.8 million
Current assets increased 50% to $19.7 million, up from $13.2 million
Current ratio increased to 2.09, from 1.10
Working capital increased 725% to $10.3 million, up from $1.2 million.
Nicholas S. Warrender, vice chairman and COO of LFTD Partners, and founder and CEO of Lifted Made, stated, "Q2 2022 was a record quarter for us in terms of net income, earnings per share, and free cash flow."
Price Action
LFTD Partners shares were trading 18.46% lower at $6.36 per share at the time of writing Friday morning.
Photo by Diyahna Lewis on Unsplash
Related News
LFTD Partners Prepays Its Remaining Secured Debt Of $916K
LFTD Partners Lowers Its Secured Debt, Here Are The Details
LFTD Partners Inc. Prepays One Third Of Total Secured Debt With Free Cash Flow From Subsidiary Company Lifted Made
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.”
Differentiate this product from the failed competition today, investors want a secure crypto system and are tired of hacked untrustworthy exchanges
Big opportunity Veterans Day Veterans fight against the system Versus Systems
“The Company is affirming the following guidance:
-- Revenue of approximately between $150 million to $170 million for the year-ended December 31, 2022”
Outstanding Shares
126,265,764
08/05/2022
“Ending backlog of $288 million -- Ending cash balance of $22 million -- On-track with planned cost savings initiatives expected to drive $20 million of annualized operating expense savings -- Affirmed 2022 financial outlook
Mandy Long, who joined BigBear.ai in October as the Company's CEO, said, "In the third quarter, we made significant progress to improve our financial profile, including 8% revenue growth in our analytics business, with a key $14.8 million sole-source contract award from the U.S. Army to implement the Global Force Information Management (GFIM) system. In addition, our ongoing actions to reduce expenses and cash usage are helping move us to a sustainable growth model. Based on our improved operational efficiency and the continued health of our backlog, we are reaffirming our outlook for 2022.”
“4:16p ET 11/9/2022 - Dow Jones
Press Release: BigBear.ai Announces Third Quarter 2022 Financial Results
BigBear.ai Announces Third Quarter 2022 Financial Results
Company achieves 8% quarter-over-quarter revenue growth driven by key wins and growth within Analytics; cost savings initiatives expected to drive $20 million of annualized expense savings
COLUMBIA, Md.--(BUSINESS WIRE)--November 09, 2022--
BigBear.ai Holdings, Inc. (NYSE: BBAI) ("BigBear.ai" or the "Company"), a leader in AI-powered analytics and cyber engineering solutions, today announced financial results for the third quarter of 2022.
Financial Highlights
-- Revenue of $40.7 million, compared to $40.2 million for the third quarter of 2021 -- Analytics revenue increased $1.7 million, or 8%, as compared to the same period in 2021, primarily driven by the award of the U.S. Army Global Force Information Management (GFIM) contract in the third quarter of 2022 -- Gross margin of 29%, compared to 27% for the third quarter of 2021 -- Segment adjusted gross margin of 43% for the Analytics segment, compared to 49% for the third quarter of 2021, driven primarily by contract mix -- Segment adjusted gross margin of 22% for the Cyber & Engineering segment, compared to 21% for the third quarter of 2021 -- Net loss of $(16.1) million, compared to $(3.1) million for the third quarter of 2021, primarily driven by higher public company expenses as well as infrastructure and integration costs -- Non-GAAP adjusted EBITDA* of $(3.9) million -- Ending backlog of $288 million -- Ending cash balance of $22 million -- On-track with planned cost savings initiatives expected to drive $20 million of annualized operating expense savings -- Affirmed 2022 financial outlook
Mandy Long, who joined BigBear.ai in October as the Company's CEO, said, "In the third quarter, we made significant progress to improve our financial profile, including 8% revenue growth in our analytics business, with a key $14.8 million sole-source contract award from the U.S. Army to implement the Global Force Information Management (GFIM) system. In addition, our ongoing actions to reduce expenses and cash usage are helping move us to a sustainable growth model. Based on our improved operational efficiency and the continued health of our backlog, we are reaffirming our outlook for 2022."
Third Quarter 2022 vs. Second Quarter 2022 Comparative Financial Highlights
-- Analytics revenue increased $3.7 million, or 20%, primarily driven by the award of the U.S. Army GFIM contract in the third quarter of 2022, as well as increased volume on other Analytics programs -- Gross margins expanded from 25% in the second quarter of 2022 to 29% in the third quarter of 2022, primarily driven by reduced volume on low margin contracts -- Net cash used in operating activities was $6.4 million in the third quarter, compared to $24.5 million in the second quarter, driven primarily by lower operational spending and integration costs, investment contracts, and interest payments
BigBear.ai CFO Julie Peffer said, "In the third quarter, we made substantial progress on our initiatives to reduce expenses, manage our working capital, and significantly increase our operational efficiency, including our previously announced reduction in force, largely focused on non-billable headcount reduction. In the fourth quarter, the effects of rightsizing our cost structure will continue, and we expect to realize additional operational efficiencies.
"From a liquidity perspective, we ended the third quarter with $22 million of cash on our balance sheet, and we are amending our credit facility with Bank of America which will give us access to $25 million of additional liquidity, upon meeting the terms of the agreement. Our improved operational discipline coupled with our stabilized liquidity position will enable us to target and pursue the right investments for sustainable growth," concluded Peffer.
Financial Outlook
The following information and other sections of this release contain forward-looking statements, which are based on the Company's current expectations. Actual results may differ materially from those projected. It is the Company's practice not to incorporate adjustments into its financial outlook for proposed acquisitions, divestitures, changes in law, or new accounting standards until such items have been consummated, enacted, or adopted. For additional factors that may impact the Company's actual results, refer to the "Forward-Looking Statements" section in this release.
The Company is affirming the following guidance:
-- Revenue of approximately between $150 million to $170 million for the year-ended December 31, 2022 -- Single-digit negative Adjusted EBITDA*, in millions, for the second half of 2022 Summary of Results for the Third Quarter and Year to Date Periods Ended September 30, 2022 and September 30, 2021 (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------------- ---------------------- $ thousands (expect per share amounts) 2022 2021 2022 2021 ------------------ --------- -------- --------- ----------- Revenues $ 40,651 $40,219 $114,654 $112,100 Cost of revenues 28,900 29,421 83,446 81,859 ------------------ ------- ------ ------- ------- Gross margin 11,751 10,798 31,208 30,241 Operating expenses: Selling, general and administrative 20,233 12,038 69,205 32,557 Research and development 1,785 1,363 7,194 4,158 Restructuring charges 1,562 -- 1,562 -- Transaction expenses 566 -- 2,151 -- Goodwill impairment -- -- 35,252 -- ------------------ ------- ------ ------- ------- Operating loss (12,395) (2,603) (84,156) (6,474) Interest expense 3,557 1,870 10,666 5,579 Net decrease in fair value of derivatives (102) -- (1,564) -- Loss on extinguishment of debt -- -- -- -- Other expense (income) 8 -- 12 (1) ------------------ ------- ------ ------- ------- Loss before taxes (15,858) (4,473) (93,270) (12,052) Income tax expense (benefit) 252 (1,327) (1,491) (3,294) ------------------ ------- ------ ------- ------- Net loss $(16,110) $(3,146) $(91,779) $ (8,758) ------------------ ------- ------ ------- ------- Basic and diluted net loss per share $ (0.13) $ (0.03) $ (0.72) $ (0.08) ------------------ ------- ------ ------- ------- EBITDA* and Adjusted EBITDA* for the Third Quarter and Year to Date Periods Ended September 30, 2022 and September 30, 2021 (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------------- --------------------- $ thousands 2022 2021 2022 2021 ------------------ --------- -------- --------- ---------- Net loss $(16,110) $(3,146) $(91,779) $(8,758) Interest expense 3,557 1,870 10,666 5,579 Income tax benefit 252 (1,327) (1,491) (3,294) Depreciation and amortization 2,038 1,759 5,764 5,432 ------------------ ------- ------ ------- ------ EBITDA (10,263) (844) (76,840) (1,041) Adjustments: Equity-based compensation 2,222 30 11,160 86 Net decrease in fair value of derivatives(1) (102) -- (1,564) -- Restructuring charges(2) 1,562 -- 1,562 -- Capital market advisory fees(3) -- 1,510 741 3,956 Termination of legacy benefits(4) -- 1,482 -- 1,482 Management fees(5) -- 229 -- 683 Integration costs(6) 2,075 740 6,474 1,245 Commercial start-up costs(7) -- 773 6,490 773 Transaction expenses(8) 566 -- 2,151 -- Goodwill impairment(9) -- -- 35,252 -- ------------------ ------- ------ ------- ------ Adjusted EBITDA $ (3,940) $ 3,920 $(14,574) $ 7,184 ------------------ ------- ------ ------- ------ (1) The decrease in fair value of derivatives primarily relates to the changes in the fair value of certain Forward Share Purchase Agreements (FPAs) that were entered into prior to the closing of the Business Combination and were fully settled during the first quarter of 2022, as well as changes in the fair value of private warrants. (2) In the third quarter of 2022, the Company incurred employee separation costs associated with a strategic review of the Company's capacity and future projections to better align the organization and cost structure and improve the affordability of its products and services. (3) The Company incurred capital market and advisory fees related to advisors assisting with the Business Combination. (4) In the third quarter of 2021, the Company elected to terminate certain legacy employee incentive benefits with final payments made in the fourth quarter of 2021. (5) Management and other related consulting fees paid to AE Partners. These fees ceased subsequent to the Business Combination.
(MORE TO FOLLOW) Dow Jones Newswires
November 09, 2022 16:16 ET (21:16 GMT“
Veterans Day Big opportunity WWII
“Business Highlights
-- For the third quarter ended September 30, 2022, Direct Digital Holdings processed approximately 125 billion monthly impressions through its sell-side advertising segment, an increase of 56% over the same period of 2021, with over 1.3 trillion bid requests for the quarter.
-- In addition, the Company's sell-side advertising platforms received over 11 billion bid responses, an increase of over 120% over the same period in 2021, through 129,000 buyers for the quarter.
”
Share Structure
Outstanding Shares
3,163,214
08/12/2022
“7:00a ET 11/10/2022 - PR Newswire
Direct Digital Holdings Reports Third Quarter 2022 Financial Results
Third Quarter 2022 Revenue Up 211% Year-Over-Year to $26.0 Million
Third Quarter Net Income Up Year-Over-Year to $0.8 Million, or $0.06 per Share
Company Raises Revenue Guidance to $85 Million-$90 Million for Full-Year 2022
Direct Digital Holdings, Inc. (Nasdaq: DRCT) ("Direct Digital Holdings" or the "Company"), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC ("Colossus SSP"), Huddled Masses LLC ("Huddled Masses") and Orange142, LLC ("Orange142"), today announced financial results for the third quarter ended September 30, 2022.
https://mma.prnewswire.com/media/1943643/DDH_Set_1.jpg
Mark Walker, Chairman and Chief Executive Officer of Direct Digital Holdings, commented, "We are pleased to report strong revenue and EBITDA for the third quarter of 2022, demonstrating strong growth across both our sell- and buy-side business segments and continued expansion of our portfolio and client reach."
Keith Smith, President of Direct Digital Holdings, added, "Our team has effectively responded to the recent uncertainty and volatility in the market, capitalizing on brands and businesses moving dollars from less efficient traditional advertising outlets towards digital media. We believe that Direct Digital Holdings is well-positioned to continue its record of strong growth and market expansion or the remainder of the year and, as such, we are thrilled to announce we will be raising revenue guidance for full-year 2022."
Third Quarter 2022 Financial Highlights:
-- Revenue increased to $26.0 million in the third quarter of 2022, an increase of $17.6 million, or up 211% over the $8.4 million in the same period of 2021.
-- Sell-side advertising segment, consisting of the Colossus SSP business, grew to $18.9 million and contributed $16.5 million of the increase, or up 710% over the $2.3 million in the same period of 2021.
-- Buy-side advertising segment, consisting of the Huddled Masses and Orange142 businesses, grew to $7.1 million and contributed $1.1 million of the increase, or up 18% over the $6.0 million in the same period of 2021.
-- Operating income increased $1.3 million, up 225%, to $1.8 million for the third quarter of 2022, compared to income of $0.6 million in the same period of 2021. Increased costs resulting from headcount additions, higher commission and bonus expense, public company related costs, as well as a one-time severance charge of approximately $0.5 million impacted operating income in the third quarter of 2022.
-- Net income was $0.8 million in the third quarter of 2022, up 458%, compared to ($0.2) million loss in the same period of 2021.
-- Adjusted EBITDA(1) increased 128% to $2.4 million in the third quarter 2022, compared to $1.1 million in the same period of 2021.
-- Net operating cash provided by operating activities for the nine-months ended September 30, 2022 was $3.4 million, compared to a net operating cash of $3.2 million generated in the same period of 2021.
Business Highlights
-- For the third quarter ended September 30, 2022, Direct Digital Holdings processed approximately 125 billion monthly impressions through its sell-side advertising segment, an increase of 56% over the same period of 2021, with over 1.3 trillion bid requests for the quarter.
-- In addition, the Company's sell-side advertising platforms received over 11 billion bid responses, an increase of over 120% over the same period in 2021, through 129,000 buyers for the quarter.
-- The Company's buy-side advertising segment served over 200 customers, an increase of 2% compared to the same period of 2021.
Financial Outlook
Direct Digital Holdings' guidance assumes that the U.S. economy continues to grow at a moderate pace, and there are no major COVID-19-related setbacks or other shocks that may cause economic conditions to deteriorate or otherwise significantly reduce advertiser demand. Direct Digital Holdings plans to offer annual guidance and update it throughout the year. Accordingly, the Company estimates the following:
-- For fiscal year 2022, Direct Digital Holdings is raising expectations for guidance by approximately 20% to increase from a range of $70 million-$75 million to $85 million-$90 million, or up 130% year-over-year growth at the mid-point, while targeting an Adjusted EBITDA Margin in the double digits.
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