SRAX Inc. (SRAX) shares are gaining on Tuesday early morning, as the company reported Monday a turn around to profit on 316 percent increase in total revenue for the fourth quarter. Further, the company raised its revenue guidance for the full year.
Monday, the financial technology company reported an interim total profit of $200K, compared to net loss of $4.4 million in the previous year.
Total revenue for the quarter increased to $4.5 million from $1.088 million in the prior year.
For the full year, the company raised revenue guidance to $23-$25 million from $17-$18 million. For the second quarter, SRAX expects revenue of $7 million.
Currently, the shares are at $4.60, up 8.49 percent from the previous close of $4.24. The shares have traded in a range of $1.60-$7.19 on average volume of 969,135.
On March 15, the financial technology company that unlocks data and insights for publicly companies through its SaaS platform Sequire had announced the release of its Shelf Registration Feature.
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