Preliminary 2022Revenues up 34% to Approximately $4.4 million
Thakker, continued, “While the industry exits a slowdown from the pandemic, we are witnessing increased demand from consumers. We continue to focus on increased user engagement through retention and monetization, which is driving growth in revenue. As our preliminary numbers indicate, RDE’s
Preliminary FY 2022 Financial Highlights (vs. FY 2021)
- Revenue is projected to increase 34% to approximately
$4.4 million , compared to$3.3 million . - Direct cost of revenues is expected to increase 109% to approximately
$0.8 million , compared to$0.4 million . - Operating expenses decreased by 24% to
$6.7 million , compared to$8.8 million . - Operating loss is expected to improve by 58% to approximately
($2.3) million compared to($5.5) million . - Net loss is expected to improve by 74% to approximately
($1.3) million compared to($5.0) million .
Preliminary Q4 2022 Financial Highlights (vs. Q4 2021)
- Revenue is projected to increase 20% to approximately
$1.0 million , compared to$0.9million . - Direct cost of revenues is expected to increase 98% to approximately
$0.2 million , compared to$0.1 million . - Operating expenses increased by 5% to
$1.8 million , compared to$1.7 million . - Operating loss is expected to improve by 11% to approximately
($0.7) million compared to($0.8) million . - Net loss is expected to improve by 9% to approximately
($0.8) million compared to($0.8) million .
About RDE, Inc.
For more information, visit: www.rdeholdings.com and https://www.restaurant.com.
Cautionary Note Regarding Preliminary Financial Information
This release should be read in conjunction with the financial statements and management’s discussion and analysis (“MD&A”) included in the Company’s filings with the
Preliminary financial information disclosure has been prepared by management based on information available to it as of the date hereof and should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. Estimated preliminary results are subject to completion of our customary quarterly and annual financial closing and audit and review procedures and are not comprehensive statements of our financial results for the three months and fiscal year ended
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the
Financial guidance should not be viewed as a substitute for full financial statements prepared in accordance with GAAP.
If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, RDE’s actual results could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties referred to above include, but are not limited to: risks associated with current economic uncertainties tied to the COVID-19 pandemic, including but not limited to its effect on customer demand for the our products and services and the impact of potential delays in supply of product inputs and customer payments; risks associated with new product releases; the impacts of further inflation; risks that customer demand may fluctuate or decrease; risks that we are unable to collect unbilled contractual commitments, particularly in the current economic environment; our ability to compete successfully and manage growth; our need for significant capital; our ability to develop and expand strategic and third party distribution channels; our dependence on third party suppliers, brewers and distributors risks related to our international operations; our ability to continue to innovate; our strategy of making investments in sales to drive growth; increasing costs of fuel and freight, protection of intellectual property; competition; general political or destabilizing events, including war, conflict or acts of terrorism; the effect of evolving domestic and foreign government regulations, including those addressing data privacy and cross-border data transfers; and other risks detailed from time to time in RDE’s public filings, including RDE’s annual report on Form 10 filed on
Investors Contacts:
ClearThink
nyc@clearthink.capital
Source:
2023 GlobeNewswire, Inc., source