Black Friday / Cyber Monday Sales Bolster Cash Receipts of $1.2 Million for the Month
Blackboxstocks Inc. (NASDAQ: BLBX) (“Blackbox”), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, today announced that the Company had a record month in November for both monthly recurring revenue and cash receipts.
The record cash receipts and revenue in November is expected to result in the Company hitting revenue projections at the high end of the previously projected range for the fourth quarter of 2021. Blackbox had previously projected record high revenue for Q4 2021 ranging between $1.51 million and $1.56 million, an increase of 45% - 50% when compared to revenue of $1.04 million for the same period in 2020.
Approximately $800,000, or 67%, of the $1.2 million of November’s cash receipts were from the sale of annual subscriptions. Revenue recognized from these sales will be amortized over the next twelve months. The significant sale of annual subscriptions in November resulted in the overall ratio of annual subscriptions increasing to 37% of the overall user base from 32%.
“We are very pleased to be closing out another year with record revenue and are especially excited to see the growth of annual subscriptions in our user base. We believe that this speaks volumes to our brand loyalty and increases the life-time value of our members, one of the most important metrics for a SaaS company like Blackbox,” said Gust Kepler, Chief Executive Officer.
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/screenshare 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
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