Audioeye, Inc. (AEYE) Reports Prelim Q4 Revenues of $2.2M
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AudioEye, Inc. (NASDAQ: AEYE), an industry-leading digital accessibility platform delivering website accessibility compliance to businesses of all sizes, provided a customer update and its preliminary outlook for revenue, monthly recurring revenue, and net loss for the fourth quarter 2021.
Preliminary Fourth Quarter 2021 Updates
- As of December 31, 2021, monthly recurring revenue (MRR) is expected to be about $2.2 million representing an increase of 16% year over year
- Fourth quarter 2021 revenue is expected to be in the range of $6.4 million to $6.5 million representing an increase of 14-16% year over year
- Net loss for the fourth quarter 2021 is expected to be between $5.2 million and $4.9 million, inclusive of expected litigation expense in the range of $0.9 million to $1.1 million and expected stock based compensation expense in the range of $2.1 million to $2.3 million (both of which we expect to exclude from our non-GAAP loss for the quarter)
- Ended the fourth quarter with a customer count of approximately 82,000 representing an increase of 156% year over year
- Renewed significant contract with global HR and payroll software and service company in December
- Signed a major agency and a large financial institution
"AudioEye's results in the fourth quarter reflect significant progress across product development and sales. Our customers started to take full advantage of our newly launched Issue Reporting dashboard, which enables them to take proactive action and address the most pressing accessibility issues faster and at scale. The new feature, coupled with our human assisted technology, allows us to deepen our relationships with existing customers and attract new ones," said David Moradi, CEO of AudioEye. "Highlights in the quarter include renewing a significant contract with a global HR and payroll software and service company, signing a major agency and a large financial institution while experiencing strong growth in the marketplace channel. We are well-positioned for the future and look forward to supporting our customers with new innovations and a comprehensive web accessibility platform in our mission to eradicate all barriers to digital access."
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