- SRAX, Inc (NASDAQ:SRAX) reported fourth-quarter FY21 Sequire revenue growth of 170% year-on-year to $9.6 million, missing the consensus of $10.2 million.
- The continued adoption of its SaaS platform Sequire drove the increase.
- SRAX held $1.35 million in cash and equivalents.
- Outlook: SRAX sees Q1 FY22 revenue of $11.5 million in line with the consensus and FY22 revenue of $47 million - $50 million against the consensus of $48 million.
- CEO Christopher Miglino said, "Not only was 2021 a record revenue and growth year for SRAX, it was also a transformational year for us, and we were able to successfully meet our 2 main objectives for the year: 1) Continue to grow our highly profitable Sequire business and 2) Deconsolidate BIGtoken. The numbers we will report in our next report for Q1 2022 will not include any BIGtoken noise, and we hope will make it easier for the investment community to appreciate the exciting business we have built at Sequire."
- Price Action: SRAX shares traded lower by 6.01% at $3.60 on the last check Monday.
