Business
Cyberlux Corporation (OTC:CYBL) Raises its Revenue Guidance for 2022 by 47% for the Full Year
Cyberlux Corporation (OTC:CYBL) Raises its Revenue Guidance for 2022 by 47% for the Full Year.
About this update from Cyberlux Corp.
[{"type":"text","content":"Company informs Shareholders and Investors that its revenue is expected to grow beyond prior estimates for the full year 2022 outlook.RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / December 22, 2021 / Today, Cyberlux Corporation, (OTC Bulletin Board:CYBL), an advanced technology platform company leading the digital transformation across industries with advanced unmanned aircraft systems (UAS) solutions, LED lighting solutions, renewable energy and infrastructure technology, and infrastructure software-as-a-service solutions, announced the Company is increasing its revenue guidance for the full year 2022 from $30.5 million to $44.8 million, an increase of 47 percent from the Company's prior guidance. In addition, the Company is expecting to post significant positive growth in net income from Operations for the full year 2022.Cyberlux Corporation CEO Mark Schmidt provided commentary on the new estimates:"Dear CYBL Community, we are beyond excited to raise our 2022 revenue guidance for the full year from $30.5 million to $44.8 million, an increase of $14.3 million, up 47% from the prior estimate as provided in our recent Investor Relations presentation. During the last six months, we have been working with our channel partners, our industry partners and our key customers across our four business units - FlightEye Unmanned Aircraft Systems, Advanced Lighting Systems, Infrastructure Technology Solutions and Infrastructure Software Solutions - to target the highest impact and most scalable opportunities. Last week, we were able to confirm our 2022 revenue guidance with the contract and opportunity pipeline we have in front of us now. This is a remarkable time for the Company, and as we all saw in our October and November revenue results, and our subsequent revision of the 2021 full year guidance, we have fully begun the transformation of Cyberlux into an Advanced Technology Platform company, particularly with our ongoing strategic intellectual property development efforts. Now we expect the business in 2022 to far exceed our prior expectations, up over $14 million in revenue across our business units, especially driven by our newly emerging Infrastructure Software Solutions group. We'll have more to say on our software-as-a-service group in the coming days, but we are truly harnessing the future with this business unit. We are literal...