- ARHT Media (ART) has announced financial results for the fourth quarter and fiscal year ended December 31, 2021
- In the 2021 fiscal year which ended on December 31, 2021, revenues rose by 118 per cent to $4.8M when compared to $2.2M recorded for the fiscal year 2020
- Similarly, for the fourth quarter of 2021, revenues also went up by 117 per cent to $1.3M in comparison to the $0.6M for Q4 2020
- Cash as of Dec 31, 2021, was $3.1M as compared to $0.5M as of Dec 31, 2020.
- ARHT Media is a global leader in the development, production and distribution of high-quality, low latency hologram and digital content
- ARHT Media (ART) was trading at $0.255 at 2:55 PM ET, having gained 0.01 or 4.082 per cent
ARHT Media (ART) has announced financial results for the fourth quarter and fiscal year ended December 31, 2021.
The company recorded a rise in key indices. In the 2021 fiscal year which ended on December 31, 2021, revenues rose by 118 per cent to $4.8M when compared to $2.2M recorded for the fiscal year 2020.
Similarly, for the fourth quarter of 2021, revenues also went up by 117 per cent to $1.3M in comparison to the $0.6M for Q4 2020.
Cash as of Dec 31, 2021, was $3.1M as compared to $0.5M as of Dec 31, 2020.
In the 2021 fiscal year, some key events led to the results recorded.
The company’s new online presentation technology Virtual Global Stage” (VGS) accounted for 65 per cent of event revenue and 42 per cent of overall revenue, with a very high level of recurring business.
Revenue from repeat clients was approximately 70 per cent of total revenue.
ARHT Media partnered with WeWork to create the world’s first global holographic network in up to 100 locations. The initial 16 location roll-out was increased to 30 locations in February 2022.
Permanent installations with NATO in Germany and USA, plus other defence installations and activations, show great promise in the defence sector.
In 2022 the company has undertaken some key projects.
The company completed a $10M growth equity financing in February 2022 to enable significant investment in sales, marketing and new product technology. It plans to launch a new display product in Q2 2022 for the retail & trade show vertical
“There has never been a more exciting time at ARHT Media as we plan for significant growth in 2022 and beyond,” said ARHT CEO Larry O’Reilly.
“We currently have a major backlog of orders from both existing and new clients as well as an expanding product range and a significant increase in sales and marketing spend that should make for a break out year in 2022.”
ARHT Media is a leader in the development, production and distribution of high-quality, low latency holograms and digital content.
ARHT Media Inc. (ART) was trading at $0.255 at 2:55 PM ET, having gained 0.01 or 4.082 per cent.
