SRAX Inc. (NASDAQ: SRAX) Shows Impressive Gains with Release of Unaudited Q4 2020 Results
Apr 19, 2021
- SRAX Inc released its unaudited financial results for 4QFY2020 on March 29, 2021
- The company reported Q4 revenues of $4.5 million, up 316% YoY whilst also revealing that it had achieved $200 thousand in net income in final quarter of the year
- SRAX’s Sequire platform saw the number of corporate subscribers on its platform increase to 183 companies (vs 92 companies as of Q3)
- SRAX raised its sales guidance for FY2021 to $23-25mn, implying YoY growth rate of 164-187%
SRAX (NASDAQ: SRAX), a digital marketing pioneer focused on providing consumer data management services, released its unaudited financial results for the fourth quarter of 2020 on March 29, 2021 (https://ibn.fm/TYdrY). The company reported Q4 revenues of $4.5 million, up 316% year-over-year, while reporting net income of $200,000 over the same period.
Key Highlights:
- SRAX reported Q4 revenues of $4.5 million, up 316% year-over-year and up 74% quarter-on-quarter
- SRAX reported Q4 net income of $200,000, a significant increase relative to the net loss of -$4.4 million witnessed in Q4 of 2019
- SRAX reported FY2020 revenues of $8.7 million, an increase of 141% year-over-year relative to the 2019 fiscal year
- SRAX reported FY2020 net income of -$14.7 million, with the net loss narrowing compared to FY2019’s -$16.9 million.
- SRAX revealed that the company’s gross margins for Q42020 had risen to 73% (versus 70% for FY2020 and 44% for Q42019)
In addition to releasing its fourth quarter and FY2020 results, SRAX also seized upon the opportunity to provide its shareholders and the market with a series of operational updates as to the ongoing status of its business…
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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