Business
Cyberlux Corporation (OTC:CYBL) Releases Second Quarter Financial and Operational Results with the Company Delivering Record Quarterly Revenue of $8.31M and Net Income of $2.99M for Quarter Ended June 30, 2022
Cyberlux Corporation (OTC:CYBL) Releases Second Quarter Financial and Operational Results with the Company Delivering Record Quarterly Revenue of $8.31M and Net Income of $2.99M for Quarter Ended June 30, 2022.
About this update from Cyberlux Corp.
[{"type":"text","content":"The Company reports it delivered $8.31M in Revenue on Strong Business Unit Performance across Global Markets and posted $2.99M in Net Income for the period ended June 30, 2022, a 240% increase over Q1 2022.RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / August 16, 2022 / Today, Cyberlux Corporation, (OTC PINK:CYBL), an advanced digital technology platform company leading the digital transformation evolution across industries with breakthrough Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) solutions, advanced unmanned aircraft solutions (UAS), cutting-edge lighting solutions, and renewable energy and infrastructure technology solutions, announced that the Company achieved a record $8,305,823 in Revenue and a record $2,987,270 in Net Income for the Second Quarter of 2022. The Company also grew its Balance Sheet Assets to $14,377,018 with its successful organic growth and platform acquisition strategy for the period ended March 31, 2022.For the quarter ended June 30, 2022, Cyberlux grew its revenue by $2,058,370 to $8,305,823, an increase of 32.9 percent quarter-to-quarter when compared to the $6,247,453 revenue posted in first quarter 2022. Importantly, the Company also achieved a significant 240 percent increase in quarter-over-quarter net income growth, $2,987,270 versus $1,243,246. Additionally, Cyberlux overachieved its Revenue Plan for the first six months of 2022 by 29 percent, $14,553,276 versus $11,300,00, with very strong performances across the four Business Units, with Unmanned Aircraft Solutions beating the Plan by 68 percent, followed by the Digital Platform Solutions team overachieving by 36 percent, and the Infrastructure Technology Solutions team exceeding the Plan by 24 percent. Going forward, with the Company's acquisition and organic growth strategy is continuing to accelerate, particularly with the project opportunity pipeline we have, the 2022 revenue outlook of $44.8 million will be achieved, and the Company is expected to generate a substantial positive net income from Operations for the year as well, to further the share buyback plan as previously announced.Financial Highlights for Three and Twelve Months Ended June 30, 2022:Revenues from Operations for the three months of $8,305,823, up 32.9% from the $6,247,453 in revenue for the previous quarter ended March 31, 2022. Revenues from Operations of ...