While many technology stocks are down sharply in 2022, revenue growth remains, with the entire sector recording a total revenue increase of 10%, which itself is not impressive. However, digging deeper into the numbers several up and coming technology companies have recorded record revenue growth recently that the market has yet to properly factor in due to the sector's overall underperformance. These discounts may not last long so start researching the following companies immediately.

Sparta Commercial Services, Inc. (OTCMKTS: SRCO) is a diversified company with interests in cryptocurrency, CBD and Wellness, e-commerce, website & mobile app development, and nationwide municipal lease financing solutions for essential equipment.

Recorded a boost in revenues for the quarter ending January 31, 2022 the company's revenue continues to increase quarter over quarter, and its next announcement could come soon.

Currently, there are two main verticals driving SRCO's revenue growth:

iMobile Solutions and Vehicle History Reports- The company's e-commerce technology earns SRCO a large majority of its revenue. Its subsidiary, iMobile Solutions, Inc., develops mobile apps and websites for clients and through Cyclechex, RVchex, and Truckchex, offers provides buyers, sellers, dealers and more vehicle title history reports which may be accessed on Kelley Blue Book, and AllState, as well as various dealership websites. These reports have been sold in all 50 states and 62 countries.

Health and Wellness Products - New World Health Brands, Inc. a CBD and natural dietary supplement brand, is an example of a calculated risk paying off for SRCO. While health and wellness products wouldn't seem to fit a 'financial solutions' model on the surface, New World Health Brands was an opportunity for SRCO to leverage its e-commerce expertise in a fast-growing industry and so far this has proven profitable. Sales have grown by ~80% in the first 9 months of fiscal 2022 vs. the same period in 2021.

While the above verticals have created revenue growth on their own which is expected to continue, SRCO has several other revenue streams that could start showing up in the balance sheet as soon as the next 10-Q.

Municipal Financing Business- The Company's foundation was built on vehicle-financing. After the 2008 financial crisis, it shifted its focus from consumers to municipalities. When COVID hit, many of these municipalities received grants reducing their need for funding. However, these grants are drying up and SRCO has already announced several municipal deals, with repeat municipalities being common, so expect to see this reflected in increased revenue.

Mobile App and Website Development- SRCO's iMobile Solutions subsidiary has announced several app development projects and stated that interest and demand for the iMobileApp is increasing, meaning new revenue sources.

Crypto-Payment App- SRCO's crypto-payment app is an exciting solution for merchants looking to accept cryptocurrency payments. This could be a massive revenue stream if it secures adoption.

Start research on SRCO here:

https://capitalgainsreport.com/srcos-rapid-revenue-growth-and-why-investors-should-care/

From a payment app to a crypto wallet play, Phunware, Inc. (Nasdaq: PHUN) exceeded top-line revenue estimates in Q1. After projecting 250% year-over-year for Q1, delivering actual revenues exceeding 310% growth to start the fiscal year.

This week, PHUN announced the release of its cryptocurrency wallet, PhunWallet version 1.3, an updated mobile application software on the Apple App Store and Google Play for Android.

Phunware, Inc. (NASDAQ: PHUN), is a Multiscreen-as-a-Service (MaaS) company, with an award-winning, fully integrated enterprise cloud platform for mobile that provides companies with solutions for monetizing their mobile application portfolios.

Software-as-a-Service (SaaS) penny stock, Cyberlux Corporation (OTCMKTS: CYBL), last week confirmed a record Q1 performance. Cyberlux grew its revenue by $6,247,453, compared to $0 revenue in first quarter 2021, this created a 543 percent increase in year-over-year net income growth, for a record $1,243,246 in Net Income for the First Quarter of 2022. The Company also grew its Balance Sheet Assets to $10,524,329.

CYBL now projects 2022 revenue of $44.8 million, which it believes will create 'substantial' income.

Another tech-penny with record revenue growth, Nano Dimension Ltd. (Nasdaq: NNDM), an industry leader in Additively Manufactured Electronics (AME) and Micro Additive Manufacturing (Micro-AM), reported revenues of $10,430,000 for the first quarter of 2022, an increase of 1,186% over the same quarter in 2021, and an increase of 38% over the fourth quarter of 2021.

Nano Dimension reports that this first quarter revenue indicates the potential for growth of approximately 300% in full year 2022 over 2021. That would outpace the company's own initial guidance and grow revenue over 10 times from 2020 to 2022.

Sticking with the nano-tech theme, Industrial Nanotech, Inc. (OTCMKTS: INTK) a global nanoscience solution and product development leader, posted a Q1 2022 quarterly revenue record of over $3 million, up 678% on the previous quarter (Dec. 31, 2021) of $385,793, and a net profit of $1,637,412, achieving the most positive quarter result ever recorded in the company's history.

On the heels of this record revenue growth, INTK announced and has commenced a stock buyback program based on this growth in revenue.

INTK also recently announced a Finder's Fee Program for shareholders. Industrial Nanotech, Inc. is formalizing its long-standing policy of giving shareholders a fee for every referral or lead that leads to new business opportunities for the company.

Under Industrial Nanotech's Shareholder Finder's Fee Program, shareholders will receive 5% of the first purchase by a referred customer and 2.5% on subsequent purchases.

KEY TAKEAWAY

It's not all doom and gloom on the markets, the above companies have recorded astounding revenue growth, and seem poised to continue at their respective record trajectories. Investors looking for bright spots to beat the bear market should start their research with these diverse tech penny stocks here.

Start researching SRCO today:

https://capitalgainsreport.com/srcos-rapid-revenue-growth-and-why-investors-should-care/

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