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Creatd, Inc. Sees 38% YoY Increase in Nine-Month Net Revenues and Reaffirms Guidance of $8-12MM in FY2023 Revenues
Creatd, Inc. Sees 38% YoY Increase in Nine-Month Net Revenues and Reaffirms Guidance of $8-12MM in FY2023 Revenues.
About this update from Creatd Inc.
[{"type":"text","content":"\n\n\n\nCreatd, Inc. Sees 38% YoY Increase in Nine-Month Net Revenues and Reaffirms Guidance of $8-12MM in FY2023 Revenues\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCreatd, Inc. Sees 38% YoY Increase in Nine-Month Net Revenues and Reaffirms Guidance of $8-12MM in FY2023 Revenues\nPR Newswire\nNEW YORK, Nov. 14, 2022\n\n\n\nCreatd generated approximately $4MM in net revenues during the 9 months ended September 30, 2022, as compared to $2.9MM generated during the same period last year.Operating expenses, net of certain one-time charges, decreased 32% YoY. $2.3MM improvement in Company's EBITDA.NEW YORK, Nov. 14, 2022 /PRNewswire/ -- Creatd, Inc. (OTCQB: CRTD) (\"Creatd\" or the \"Company\"), is today announcing its preliminary financial results for the third quarter ended September 30, 2022, and the filing of Form NT 10-Q filed with the Securities and Exchange Commission (SEC). The Company expects to file its 10-Q for the third quarter of 2022 on Wednesday, November 16th.\n\n \n \n \n \n \n \n\n \nCommented Creatd Chairman & CEO Jeremy Frommer, \"We currently project over $5MM in revenues for fiscal year 2022. Our improving EBITDA is an encouraging sign of our trajectory, as we continue to trend towards our fiscal year 2023 projections of $15-20MM in gross revenues, and $8-12MM in net revenues. This projected number could be considerably higher, depending on the activation of our planned acquisition strategy for the upcoming year.\"\nThird Quarter 2022 Financial Highlights\nThird Quarter 2022 Business Highlights\nAbout Creatd\nGross Revenues: $2.9MM.Operating expenses for the third quarter, excluding certain one-time and non-cash charges, saw a 32% reduction YoY, decreasing from $5.6MM in Q3 2021 to $3.8MM in Q3 2022.EBITDA continues to improve, with a $2.3MM increase in Q3 2022 (-$5.6MM) as compared to the preceding quarter's EBITDA (-$7.8MM).EBITDA for Q42022 is projected to increase by an additional $2-2.5MM, a further 40-50% increase QoQ.The company completed the roll-out of the new Vocal app for both iOS and Android.Following its acquisition of Orb...