Blackboxstocks Inc (NASDAQ:BLBX) posted a record month in November for monthly recurring revenue and cash receipts.
Blackboxstocks is a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders.
What Happened: Black Friday and Cyber Monday sales bolstered cash receipts of $1.2 million for the month.
In November, the significant sale of annual subscriptions led to the overall ratio of annual subscriptions increasing to 37% of the broad user base from 32%.
Approximately $0.8 million, or 67%, of the $1.2 million of November’s cash receipts were from the sale of annual subscriptions.
Revenue recognized from these sales will be amortized over the next twelve months.
Why It Matters: The record cash receipts and revenue in November will likely lead to the company hitting revenue projections at the high end of the previous outlook for the Q4 of 2021.
Blackbox previously projected record high revenue of $1.51 million - $1.56 million, up 45% - 50% year-on-year.
Related: Blackboxstocks, Inc. Subscriber Base Hits 6000 Member Milestone; Short Position Gets Squeezed (NASDAQ: BLBX)
Price Action: BLBX shares closed lower by 4.23% at $2.94 on Monday.
