SRAX, Inc (SRAX) Reports Q1 Revenues Miss; Affirms 2Q Revenues Above Consensus

May 17, 2021 4:06 PM EDT
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SRAX, Inc (NASDAQ: SRAX) reported Q1 EPS of $, versus ($0.10) reported last year. Revenue for the quarter came in at $5.4 million versus the consensus estimate of $5.68 million.

First Quarter 2021 and Recent Operational Highlights and Guidance

  • Revenue for Q1 of $5.4M up 1,450% year-over-year, 21% sequentially quarter-over-quarter, exceeding previous guidance
  • Full-year revenue guidance increased from $23M - $25M to $25M - $27M
  • Sequire bookings of $10M for Q1 and $7.2M to date in Q2
  • 9 consecutive quarters of Sequire SAAS growth
  • Currently holding approximately $23M worth of marketable securities
  • 200 public companies/partners have subscribed to Sequire, up 17 since our Q4 release
  • Sequire revenue to be recognized from existing contracts in 2021: $19.8M as of this release.
  • Second Quarter revenue guidance reiterated at $7M

“Our team has delivered another amazing quarter. We continue to see accelerated bookings into the second quarter, beat our Q1 guidance and increased our guidance for the year,” said Christopher Miglino, Founder and CEO of SRAX. “Our technology continues to deliver valuable results for our clients as we continue to add new features. We have a robust pipeline of features that will be added this year. The best of what we are building has not even hit the market yet,” added Miglino.

GUIDANCE:

SRAX, Inc sees Q2 2021 revenue of $7 million, versus the consensus of $6.77 million.

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



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