SRAX, Inc (SRAX) Reports Q4 Revenues Beat; Raises FY21 Revenue Outlook Above Consensus

SRAX, Inc (NASDAQ: SRAX) reported Q4 EPS of $. Revenue for the quarter came in at $4.52 million versus the consensus estimate of $4.48 million.

Fourth Quarter 2020 and Recent Operational Highlights and Guidance

• Revenue for Q4 of $4.5M up 316% year-over-year, 74% sequentially quarter-over-quarter, exceeding previous guidance.
• Full-year revenue guidance increased from $17M - $18M to $23M - $25M
• Sequire bookings of $4.8M and $10M for Q4 and 1Q, respectively
• 8 consecutive quarters of Sequire SAAS growth
• Currently holding approximately $23.8M worth of publicly listed securities
• 183 public companies/partners have subscribed to Sequire, up 92 since our Q3 release
• Sold position in TI Health (SRAXmd) for $8M
• Sequire revenue to be recognized from existing contracts in 2021: $16.5M as of this release.
• Second Quarter revenue guidance of $7M
• BIGtoken share exchange completed. BIGtoken now listed under TICKER:FPVD

“We are making great progress with our platform and we are seeing continued adoption of the products that we are building for issuers. We had another record quarter of bookings for Sequire. In the first quarter of 2021 we have closed over $10 million in contracts. This momentum is not slowing down and we are growing the business to accommodate this demand,” said Christopher Miglino, Founder and CEO of SRAX. “Our team did an amazing job in delivering a number of cutting-edge technological improvements to the platform and they have laid the foundation for some amazing enhancements that we will bring to market throughout the rest of this year. I could not be more proud of the hard work and dedication that the team has demonstrated as our sales continue to skyrocket,” added Miglino.

GUIDANCE:

SRAX, Inc sees FY2021 revenue of $23-25 million, versus the consensus of $18.39 million.

For earnings history and earnings-related data on SRAX, Inc (SRAX) click here.

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