SRAX Announces Preliminary Revenue Results For Q4 and Full Year 2020
Thu, January 28, 2021, 8:00 AM
SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, is providing unaudited preliminary revenue results for Q4 and Fiscal year 2020.
For the three months ended December 31, 2020, the Company expects to report net revenue of approximately $4.5 million, surpassing the company's guidance for the quarter. Revenue is expected to be up approximately 320% year-over-year and up 75% from Q3 2020, exceeding analyst expectations.
2020 revenue of approximately $8.7 million, up approximately $5 million and 142% over 2019.
Four consecutive quarters of revenue growth and seven quarters of consecutive Sequire growth.
Guidance for full-year 2021 of $17-$18 million.
Q1 2021 Revenue Guidance of $5 million representing a $4.7 million increase over Q1 2020.
153 issuers have joined the Sequire platform, a 22% increase since our last report.
Marketable Securities of approximately $16 million currently on hand.
Gross Margins of approximately 69% for the year and 73% for the quarter.
"We continued to see significant demand for our Sequire platform in Q4 and this growth has continued into the first month of 2021. On the product front, we are continuing to add new features to the platform to enhance the value to our clients," said Christopher Miglino, Founder and CEO of SRAX. "We have a vision of delivering a platform that will be an essential part of every public company. We are well on our way to accomplishing this goal and think that this year will validate our leadership position in the market," added Miglino.
