SRAX Inc dips as lower Q1 revenue overshadows upbeat outlook

SRAX

18/05/2021 12:15

** Digital marketing technology provider's shares  SRAX.O 
down 1.3% to $4.6 premarket 
    ** Co's Q1 revenue surges 1,450% to $5.44 mln y-o-y, but
misses Refinitiv est of $5.68 mln
    ** Results impacted by higher operating expenses, partially
offset by strong growth in its Sequire segment  urn:newsml:reuters.com:*:nBw5fKBBha
    ** Sequire bookings were $10 mln for Q1 and $7.2 mln to-date
in Q2; 200 public companies/partners have subscribed to Sequire,
up 17 since Q4 results
    ** Q2 revenue outlook of $7 mln beats est; raises FY21
revenue forecast to $25 mln-$27 mln, also higher than Street
expectations
    ** All three brokerages covering the stock rate it "buy" or
higher; their median PT is $8.25 -  Refinitiv data
    ** As of last close, stock up ~50% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))