Q4 2021 Revenue Reaches $1.69 Million; 2021 Revenue Totals $6.11 Million
Conference Call on Friday, April 1st at 10:00am ET / 9:00am CT
DALLAS–(BUSINESS WIRE)–Blackboxstocks Inc. (NASDAQ: BLBX), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, today announced its financial results for the fourth quarter and twelve months ended December 31, 2021. The Company will hold a quarterly conference call on Friday, April 1st at 10:00am ET / 9:00am CT.
Fourth Quarter and Twelve Month 2021 Financial and Operating Highlights:
- Total revenue for the fourth quarter ended December 31, 2021 was $1,687,237, an increase of 62% over the fourth quarter of 2020 and the highest quarterly revenue to date in the Company’s history.
- Total revenue for year ended December 31, 2021 was $6,112,324, an increase of 82% compared to $3,367,563 for 2020.
- Gross margin for the fourth quarter was $1,110,834, an increase of 105%, compared to $542,538 in the fourth quarter of 2020. The gross margin was 65.8% in the current quarter compared to 52.0% in the fourth quarter last year.
- Gross margin for 2021 was $4,260,969, an increase of 97%, compared to $2,166,243 for 2020. The gross margin was 69.7% for 2021 compared to 64.3% for 2020.
- Adjusted EBITDA was $(891,516) and $(893,386) for the quarter and year ended December 31, 2021 as compared to $(266,423) and $(299,714) for the same periods in 2020.
- Cash and marketable securities totaled $10,442,379 at December 31, 2021, compared to $972,825 for the prior year. This includes proceeds from the Company’s initial public offering in November of 2021.
“Blackbox leveraged strong membership growth in both the fourth quarter and full year to generate record revenue and stronger gross margin growth in both periods. This breakout year is a testament to the entire Blackbox community, and we want to thank our members, moderators, developers and corporate team for their hard work and support,” commented Robert Winspear, Chief Financial Officer.
Gust Kepler, Chief Executive Officer, added, “2021 was a pivotal year for Blackbox. We nearly doubled our revenue from 2020, and we have set our sights on continuing this trajectory in 2022. Armed with the proceeds from our initial public offering last November, we are focused on growing our core business and continuing to introduce new and innovative products to the market.”
Summary financial data is presented in the tables below. Please see the Company’s Form 10-K filed with the Securities and Exchange Commission on March 31, 2022 for additional information.
Conference Call and Webcast Information
Blackboxstocks has scheduled a conference call at 9:00 a.m. CT / 10:00 a.m. ET today. To participate, please call 1 (877) 317- 6789 at least 10 minutes prior to the start of the call and ask to join the Blackboxstocks call.
A simultaneous webcast of the call may be accessed through the Company’s website, www.blackboxstocks.com, or at: https://services.choruscall.com/mediaframe/webcast.html?webcastid=WDesHDvQ
A replay of the call will be available at (877) 344-7529, access code 4766340, through April 8, 2022.
About Blackboxstocks, Inc.
Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs “predictive technology” enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/video feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans 42 countries; current subscription fees are $99.97 per month or $959.00 annually. For more information, go to: www.blackboxstocks.com.
Safe Harbor Statement
Our prospects here at Blackbox stocks are subject to uncertainties and risks. This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business, and reflect our beliefs and assumptions based upon information available to us at the date of this press release. In some cases, you can identify these statements by words such as “if,” “may,” “might,” “will, “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” and other similar terms. These forward-looking statements include, among other things, plans for proposed operations, descriptions of our strategies, our product and market development plans, and other objectives, expectations and intentions, the trends we anticipate in our business and the markets in which we operate, and the competitive nature and anticipated growth of those markets. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors including, but not limited to, the risks and uncertainties discussed in our other filings with the Securities Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
-Tables Follow –
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Blackboxstocks Inc. Summary Statements of Operations |
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|
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Three months ended December 31, (unaudited) |
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Year ended December 31, |
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|
|
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2021 |
|
|
|
2020 |
|
|
|
2021 |
|
|
|
2020 |
|
|
Revenues |
$ |
1,687,236 |
|
$ |
1,043,135 |
|
$ |
6,112,324 |
|
$ |
3,367,563 |
|
||||
|
Cost of revenues |
|
576,402 |
|
|
500,597 |
|
|
1,851,355 |
|
|
1,201,320 |
|
||||
|
Gross margin |
|
1,110,834 |
|
|
542,538 |
|
|
4,260,969 |
|
|
2,166,243 |
|
||||
|
Operating expenses |
|
2,917,354 |
|
|
856,723 |
|
|
6,538,808 |
|
|
2,578,941 |
|
||||
|
Operating loss |
$ |
(1,806,520 |
) |
$ |
(314,185 |
) |
$ |
(2,277,839 |
) |
$ |
(412,698 |
) |
||||
|
Other (income) expense: |
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Interest and financing expense |
|
72,459 |
|
|
194,148 |
|
|
371,302 |
|
|
1,097,931 |
|
||||
|
Gain on derivative liability |
|
– |
|
|
10,524 |
|
|
– |
|
|
(1,155,718 |
) |
||||
|
Gain on forgiveness of note payable |
|
– |
|
|
– |
|
|
(33,405 |
) |
|
– |
|
||||
|
Net loss |
$ |
(1,878,979 |
) |
$ |
(518,857 |
) |
$ |
(2,615,736 |
) |
$ |
(354,911 |
) |
||||
|
Adjusted EBITDA |
$ |
(891,516 |
) |
$ |
(266,423 |
) |
$ |
(893,386 |
) |
$ |
(299,714 |
) |
||||
|
Adjusted EBITDA Calculation |
||||||||||||||||
|
Net loss |
$ |
(1,878,979 |
) |
$ |
(518,857 |
) |
$ |
(2,615,736 |
) |
$ |
(354,911 |
) |
||||
|
Adjustments: |
||||||||||||||||
|
Depreciation and amortization expense |
|
5,256 |
|
|
2,912 |
|
|
19,721 |
|
|
12,884 |
|
||||
|
Interest and financing expense |
|
84,171 |
|
|
204,672 |
|
|
383,014 |
|
|
1,097,931 |
|
||||
|
Gain on derivative liability |
|
– |
|
|
– |
|
|
– |
|
|
(1,155,718 |
) |
||||
|
Gain on forgiveness of note payable |
|
– |
|
|
– |
|
|
(33,405 |
) |
|
– |
|
||||
|
Stock based compensation |
|
898,036 |
|
|
44,850 |
|
|
1,353,020 |
|
|
100,100 |
|
||||
|
Total adjustments |
|
987,463 |
|
|
252,434 |
|
|
1,722,350 |
|
|
55,197 |
|
||||
|
Adjusted EBITDA |
$ |
(891,516 |
) |
$ |
(266,423 |
) |
$ |
(893,386 |
) |
$ |
(299,714 |
) |
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Blackboxstocks Inc. Summary Balance Sheet Data |
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December 31, |
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|
|
|
2021 |
|
|
|
2020 |
|
|
Assets |
||||||||
|
Cash |
$ |
2,426,497 |
$ |
972,825 |
|
|||
|
Marketable securities |
|
8,015,882 |
|
– |
|
|||
|
Other current assets |
|
259,592 |
|
116,994 |
|
|||
|
Total current assets |
$ |
10,701,971 |
$ |
1,089,819 |
|
|||
|
Property and equipment: |
|
448,143 |
|
68,030 |
|
|||
|
Total assets |
$ |
11,150,114 |
$ |
1,157,849 |
|
|||
|
Liabilities and Stockholders’ Equity (Deficit) |
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Current liabilities: |
||||||||
|
Accounts payable |
$ |
585,615 |
$ |
352,545 |
|
|||
|
Unearned subscriptions |
|
1,302,036 |
|
1,016,157 |
|
|||
|
Other current liabilities |
|
69,174 |
|
230,898 |
|
|||
|
Notes payable, current portion, net |
|
971,851 |
|
142,464 |
|
|||
|
Convertible notes payable, net |
|
– |
|
257,150 |
|
|||
|
Total current liabilities |
$ |
2,928,676 |
$ |
1,999,214 |
|
|||
|
Long term liabilities: |
||||||||
|
Notes payable |
|
68,347 |
|
890,148 |
|
|||
|
Lease liability right of use, long term |
|
335,641 |
|
26,241 |
|
|||
|
Total long term liabilities |
|
403,988 |
|
916,389 |
|
|||
|
Total stockholders’ equity (deficit) |
$ |
7,817,450 |
$ |
(1,757,754 |
) |
|||
|
Total liabilities and stockholders’ equity (deficit) |
$ |
11,150,114 |
$ |
1,157,849 |
|
|||
Disclosure of Non-GAAP Financial Measures
We report our financial results in accordance with accounting principles generally accepted in the United States of America (“GAAP”). However, management believes the presentation of certain non-GAAP financial measures provides useful information to management and investors regarding financial and business trends relating to the Company’s financial condition and results of operations, and that when GAAP financial measures are viewed in conjunction with the non-GAAP financial measures, investors are provided with a more meaningful understanding of the Company’s ongoing operating performance. In addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for evaluating performance. For all non-GAAP financial measures in this release, we have provided corresponding GAAP financial measures for comparative purposes in the report.
We refer to the term “EBITDA” in various places of our financial discussion. EBITDA is defined by us as net income (loss) from continuing operations before interest expense, income tax, depreciation and amortization expense and certain non-cash expenses including stock-based compensation. EBITDA is not a measure of operating performance under GAAP and therefore should not be considered in isolation nor construed as an alternative to operating profit, net income (loss) or cash flows from operating, investing or financing activities, each as determined in accordance with GAAP. Also, EBITDA should not be considered as a measure of liquidity. Moreover, since EBITDA is not a measurement determined in accordance with GAAP, and thus is susceptible to varying interpretations and calculations, EBITDA, as presented, may not be comparable to similarly titled measures presented by other companies.
Contacts
Investors@blackboxstocks.com
PCG Advisory
Stephanie Prince, Managing Director
(646) 863-6341
sprince@pcgadvisory.com
