Srax reports 219% year-over-year revenue growth for third quarter 2021
Los angeles--(business wire)--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 financial results for q3, today, november 15th, 2021. third quarter 2021 and recent operational highlights and guidance revenue for q3 of $8.3m, up 219% year-over-year, 8% sequentially quarter-over-quarter. q4 revenue guidance of $10.1m, reaffirming full year guidance, and increasing target to $31.5m. sequire bookings of $8.9m for q3 with record q4 bookings of $12.5m as of today. projection of an additional $4m during the 4th quarter, bringing the total booked in q4 to $16.5m. 12 consecutive quarters of sequire revenue growth. currently holding approximately $29m worth of marketable securities, as of today. 250 public companies/partners have subscribed to sequire, up 25 since the q2 release. launched ir website builder, sms communication platform and vira, an ir chatbot. hosted in-person ld micro event with over 750 in-person attendees and 12k virtual attendees. srax less bigtoken, three months ended september 30, 2021 total revenue was $7.7m, an increase of 278% as compared to the same period last year and an increase of 5% sequentially quarter-over-quarter. gross margin was 79% as compared to 56% in the same period last year. operating expenses were $5.6m as compared to $4.2m in the same period last year. ebitda of $940,000 for an increase of $2m vs. ($1.1m) in q3 2020. consolidated, three months ended september 30, 2021 total revenue was $8.3m, an increase of 218% as compared to the same period last year, and an increase of 8% sequentially quarter-over-quarter. gross margin was 78% as compared to 67% in the same period last year. operating expenses were $8.1m as compared to $4.2m in the same period last year. ebitda increase of $1.1m, ($790k) vs ($1.9m) in q3 2020. “our team continues to innovate on product, sales, and marketing; and this is translating into increased revenue. we will hit the high end of our 2021 guidance and are well positioned to close out 2021 strong, with an amazing 2022 on the horizon,” said christopher miglino, founder and ceo of srax. video conference: srax's founder and ceo, christopher miglino, and cfo, michael malone, will provide an operational and financial summary of q3 2021 on a video call, with a live question and answer session, today, monday, november 15th, at 4:30 pm et / 1:30 pm pt. to register for the live webcast and view the presentation, please sign up here: https://audience.mysequire.com/webinar-view?webinar_id=ddab2293-22bd-4d5b-b59c-28a53d09e152 to access the conference by phone: dial in: +1 253-215-8782 meeting id: 98690403594 passcode: 790524 the webcast will be available on srax.com following the scheduled conference call. non-gaap measures: to supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the united states (gaap), we use the following non-gaap financial measures: ebitda. the presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with gaap. investors are cautioned that there are material limitations associated with the use of non-gaap financial measures as an analytical tool. in addition, these measures may be different from non-gaap financial measures used by other companies, limiting their usefulness for comparison purposes. we compensate for these limitations by providing specific information regarding the gaap amounts excluded from these non-gaap financial measures. we believe these non-gaap financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business. for more information on our non-gaap financial measures and a reconciliation of gaap to non-gaap measures, please see the "reconciliation of gaap to non-gaap results" table in this press release. srax less bigtoken ebitda is defined as earnings before interest, taxes, depreciation and amortization, changes in the fair-value of derivative and warrant liabilities and certain additional one-time charges and excluding the results from our bigtoken operations. 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. safe harbor statement: this press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the u.s. private securities litigation reform act of 1995. words or expressions such as "anticipate," "plan," "will," "intend," "believe" or "expect" or variations of such words and similar expressions are intended to identify such forward-looking statements. these forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations of our ability to increase our revenues, satisfy our obligations as they become due, report profitable operations and other risks and uncertainties as set forth in our annual report on form 10-k for the year ended december 31, 2020, and our subsequent quarterly reports on form 10-q as filed with the securities and exchange commission. all forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of srax and are difficult to predict. srax undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. 2021 2020 6,823,000 451,000 1,376,000 2,608,000 998,000 367,000 18,221,000 8,447,000 6,255,000 - 33,673,000 11,873,000 926,000 893,000 154,000 118,000 1,889,000 2,409,000 286,000 366,000 36,000 3,000 23,351,000 23,351,000 60,315,000 39,013,000 3,932,000 3,561,000 14,824,000 4,842,000 469,000 3,869,000 10,000 747,000 1,055,000 6,016,000 6,253,000 - 26,543,000 19,035,000 148,000 243,000 - 379,000 131,000 131,000 26,822,000 19,788,000 25,000 16,000 93,859,000 69,551,000 (71,001,000 ) (50,342,000 ) 22,883,000 19,225,000 10,610,000 - 33,493,000 19,225,000 60,315,000 39,013,000 2021 2020 2021 2020 8,313,000 2,609,000 21,432,000 4,125,000 1,804,000 880,000 4,907,000 1,388,000 6,509,000 1,729,000 16,525,000 2,737,000 2,853,000 1,689,000 7,996,000 5,406,000 2,075,000 809,000 5,105,000 1,631,000 132,000 391,000 350,000 1,181,000 366,000 333,000 1,122,000 962,000 2,681,000 984,000 6,045,000 3,157,000 8,107,000 4,206,000 20,618,000 12,337,000 (1,598,000 ) (2,477,000 ) (4,093,000 ) (9,600,000 ) (528,000 ) (3,302,000 ) (15,958,000 ) (5,340,000 ) 286,000 - 1,096,000 376,000 (3,906,000 ) (800,000 ) (4,784,000 ) (660,000 ) 2,000 - 2,000 - (134,000 ) - (134,000 ) - 10,000 - 33,000 - 1,131,000 8,000 1,145,000 8,000 134,000 - 134,000 - - - - 321,000 (3,005,000 ) (4,094,000 ) (18,466,000 ) (5,295,000 ) (4,603,000 ) (6,571,000 ) (22,559,000 ) (14,895,000 ) - - - - (4,603,000 ) (6,571,000 ) (22,559,000 ) (14,895,000 ) 774,000 - 1,900,000 - (3,829,000 ) (6,571,000 ) (20,659,000 ) (14,895,000 ) (0.15 ) (0.45 ) (0.91 ) (1.05 ) 25,019,645 14,479,519 22,707,446 14,186,721 nine months ended september 30, 2021 2020 (22,559,000 ) (14,895,000 ) 4,784,000 660,000 (1,096,000 ) (376,000 ) 134,000 - (2,000 ) - (1,116,000 ) - (33,000 ) - 885,000 - 757,000 917,000 799,000 3,746,000 - 1,103,000 5,860,000 - 7,737,000 - (134,000 ) - - (321,000 ) (409,000 ) - 104,000 69,000 61,000 57,000 1,061,000 905,000 (15,000 ) (4,000 ) 213,000 - 1,537,000 (494,000 ) (630,000 ) 372,000 (1,000 ) 243,000 371,000 23,000 (16,582,000 ) - (396,000 ) (1,893,000 ) (18,670,000 ) (9,888,000 ) 955,000 - - (697,000 ) 7,144,000 397,000 (429,000 ) - (3,004,000 ) - (97,000 ) - (541,000 ) (870,000 ) (33,000 ) 13,000 3,995,000 (1,157,000 ) 4,810,000 - 15,953,000 - 284,000 - - 11,885,000 - 960,000 - (100,000 ) - 1,084,000 - 2,130,000 - (2,500,000 ) 21,047,000 13,459,000 6,372,000 2,414,000 451,000 32,000 6,823,000 2,446,000 14,000 176,000 - - 5,973,000 - 26,564,000 5,398,000 6,387,000 - 6,387,000 - - 94,000 - 181,000 - 83,000 - 4,076,000 - 71,000 - 6,311,000 - 4,248,000 - 46,000 - 1,931,000 - 234,000 - 4,264,000 16,145,778 16,000 69,551,000 (50,342,000 ) - 19,225,000 - - 253,000 - - 253,000 53,616 - 284,000 - - 284,000 2,041,551 2,000 3,445,000 - - 3,447,000 4,945,320 5,000 12,215,000 - - 12,220,000 - - 7,737,000 - - 7,737,000 - - - - (95,000 ) (95,000 ) - - - - 885,000 885,000 - - - - 5,775,000 5,775,000 - - - - 5,775,000 5,775,000 - - - (11,090,000 ) (854,000 ) (11,944,000 ) 23,186,265 23,000 93,485,000 (61,432,000 ) 11,486,000 43,562,000 - - 253,000 - - 253,000 350,000 - 701,000 - - 701,000 1,310,198 1,000 3,575,000 - - 3,576,000 - - - - 85,000 85,000 - - - - 85,000 85,000 - - - (5,740,000 ) (272,000 ) (6,012,000 ) 24,846,463 24,000 98,014,000 (67,172,000 ) 11,384,000 42,250,000 - - 251,000 - - 251,000 53,668 - 157,000 - - 157,000 730,616 1,000 1,824,000 - - 1,825,000 - - (6,387,000 ) - - (6,387,000 ) - - - (3,829,000 ) (774,000 ) (4,603,000 ) 25,630,747 25,000 93,859,000 (71,001,000 ) 10,610,000 33,493,000 2021 2020 2021 2020 (1,597,000 ) (2,477,000 ) (4,092,000 ) (9,600,000 ) 355,000 470,000 412,000 387,000 254,000 270,000 - 237,000 201,000 - - - (787,000 ) (1,737,000 ) (3,680,000 ) (8,976,000 ) 461,000 (1,684,000 ) 1,473,000 (5,765,000 ) 225,000 332,000 254,000 270,000 940,000 (1,082,000 ) 1,473,000 (5,765,000 ) (2,058,000 ) (793,000 ) (5,565,000 ) (3,835,000 ) 130,000 138,000 412,000 387,000 - - - 237,000 201,000 (1,727,000 ) (655,000 ) (5,153,000 ) (3,211,000 )
