Blackboxstocks Inc. (OTC PINK: 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 the Company’s financial results for the first quarter of 2020 ended March 31, 2020.
First Quarter 2020 Highlights:
- Total revenue was $415,251, an increase of 83.6% over the first quarter of 2019.
- Net Income was $42,828 compared to a net loss of $208,503 in the first quarter of 2019.
- The subscriber base grew 61% during the three months ended March 31, 2020.
Commenting on the first quarter results, Blackboxstocks CEO Gust Kepler said, “The revenue growth we experienced in the first quarter was directly attributable to increasing our marketing spend beginning February 4th. We were not able to advertise regularly, or to this extent previously due to capital constraints. We have now reached 'escape velocity' and are deploying a designated percentage of our recurring free cashflow into digital advertising on a daily basis. We project total revenue for the six months ending 6-30-2020 will exceed $1,200,000, in comparison to $480,157 for the comparable period in 2019. We are also pleased to announce that our user base has grown 206% between January 1, 2020 and June 30, 2020.”
Detailed financial information can be found in Blackboxstocks’ Quarterly Report on Form 10-Q for the period ended March 31, 2020 and filed with the Securities Exchange Commission on June 29, 2020.
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 8,000 stocks and up to 900,000 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/video 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
Safe Harbor Statement
Our prospects here at Blackbox stocks are subject to uncertainties and risks. This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business, and reflect our beliefs and assumptions based upon information available to us at the date of this press release. In some cases, you can identify these statements by words such as “if,” “may,” “might,” “will, “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” and other similar terms. These forward-looking statements include, among other things, plans for proposed operations, descriptions of our strategies, our product and market development plans, and other objectives, expectations and intentions, the trends we anticipate in our business and the markets in which we operate, and the competitive nature and anticipated growth of those markets.
We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors including, but not limited to, the risks and uncertainties discussed in our other filings with the Securities Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200710005066/en/
Contacts:
