- SRAX released unaudited financial results showing positive net income for Q4 2020, 316% YOY revenue increase, massive growth of Sequire SaaS investor analytics platform
- Sequire’s subscriber base more than doubled from 91 to 183 companies since Q3 2020
- New Sequire features include shelf registration feature, seamless data additions for non-public share increases, one-click volatility predictions
SRAX (NASDAQ: SRAX), a financial technology data analytics company, recently released unaudited financial Q4 and 2020 results with highlights that include positive net income and stunning growth of Sequire, the company’s SaaS platform that unlocks data and insights for publicly traded companies (https://ibn.fm/jvBuH).
Sequire features a unique suite of tools that helps public companies obtain valuable insights such as investor tracking, warrant management and shareholder surveys. The platform has been growing for eight consecutive quarters, topping off Q4 2020 with $10 million in bookings – almost double the $4.8 million reported for Q1 2020. With over 5 million active traders and investors, the platform’s subscriber base doubled since Q3 2020 from 91 to 183 companies.
“We are making great progress with our platform and we are seeing continued adoption of the products that we are building for issuers,” said SRAX CEO and Founder Christopher Miglino. “We had another record quarter of bookings for Sequire. In the first quarter of 2021 we have closed over $10 million in contracts. This momentum is not slowing down, and we are growing the business to accommodate this demand.”
SRAX’s ground-breaking fourth quarter is highlighted by a revenue result of $4.5 million – up 74% quarter-over-quarter and 316% year-over-year. Total revenue for 2020 went up 141% to $8.7 million, putting the company in a revenue-positive position with $200,000 in net income – a stellar result when compared to its net loss of $4.4 million in 2019.
SRAX will continue to upgrade Sequire with innovative technological improvements such as its new Shelf Registration feature that allows users to review and track their shelf registration and current shelf availability. As interest in data analytics continues to grow, SRAX ensures that Sequire will adapt to the growing demands of the market through additional features that include real time data importing, seamless data additions for non-public share increases, and timely one-click predictions that offer its user base critical insights into the increasingly volatile market.
“Our team did an amazing job in delivering a number of cutting-edge technological improvements to the platform, and they have laid the foundation for some amazing enhancements that we will bring to market throughout the rest of this year,” said Miglino. “I could not be more proud of the hard work and dedication that the team has demonstrated as our sales continue to skyrocket.”
SRAX was recently featured in the Wall Street Journal in an article highlighting the importance of data-based insights on trading activity and share ownership (https://ibn.fm/Nrxul). With markets continuing their unpredictable course, technology companies like SRAX can help bring clarity to public companies through the power of data-based insights into shareholder activity.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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