Blackboxstocks Announces First Quarter 2021 Financial Results and Record Revenue of $1.5 Million, a 259% Year-over-Year Increase
Operating Income Reached over $145,000, a Positive Swing of ~$376,000
DALLAS–(BUSINESS WIRE)–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 2021, ended March 31, 2021.
First Quarter 2021 Highlights:
- Revenue for the first quarter of 2021 was $1,489,668, a 259% increase compared to $415,251 revenue in the first quarter of 2020
- Operating income was $145,132 for the first quarter of 2021 as compared to a loss from operations of $230,713 in the year ago quarter, a positive swing of $375,845
- Cash on hand at March 31, 2021 was $1,114,468, an increase of $141,643 since December 31, 2020
Gust Kepler, CEO of Blackboxstocks, commented, “Blackboxstocks continued on its strong growth trajectory throughout the first quarter of the new year after the banner year that we had in 2020. The GameStop short squeeze/ WallStreetBets phenomenon that began this January has brought an enormous amount of attention to democratized trading. This theme of ‘rise of the retail trader’ has dominated the 2021 news cycle to date, further bolstering our confidence in the Blackboxstocks hybrid platform that we’ve created.”
Detailed financial information can be found in Blackboxstocks’ Quarterly Report on Form 10-Q for the period ended March 31, 2021 filed with the Securities Exchange Commission on May 17, 2021.
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.
Stephanie Prince, Managing Director