Business
RDE, Inc. Reports Preliminary Unaudited Fourth Quarter and Full Year 2022 Results
Preliminary 2022 Revenues up 34% to Approximately $4.4 million ATLANTA, GA, Feb. 28, 2023 (GLOBE NEWSWIRE) -- RDE, Inc. (OTCQB: RSTN) (the “Company”), the
About this update from Giftify, Inc.
[{"type":"text","content":"Preliminary 2022 Revenues up 34% to Approximately $4.4 million ATLANTA, GA, Feb. 28, 2023 (GLOBE NEWSWIRE) -- RDE, Inc. (OTCQB: RSTN) (the “Company”), the owner and operator of Restaurant.com, the nation’s largest restaurant-focused digital deals brand, today announced preliminary unaudited fourth quarter and full year 2022 financial results. Ketan Thakker, Chief Executive Officer of RDE, Inc., commented, “We are thrilled with our finish to 2022, which has carried through so far in 2023. All of our data points are trending positively, highlighted by growth in our restaurant partners and customers, both leading to an increase in transactions and revenue.” Thakker, continued, “While the industry exits a slowdown from the pandemic, we are witnessing increased demand from consumers. We continue to focus on increased user engagement through retention and monetization, which is driving growth in revenue. As our preliminary numbers indicate, RDE’s Restaurant.com is trending in the right direction, and we will maintain our focus on accelerating revenue growth with an eye on reducing our operating loss and targeting profitability.” Preliminary FY 2022 Financial Highlights (vs. FY 2021) Revenue is projected to increase 34% to approximately $4.4 million, compared to $3.3 million.Direct cost of revenues is expected to increase 109% to approximately $0.8 million, compared to $0.4 million.Operating expenses decreased by 24% to $6.7 million, compared to $8.8 million.Operating loss is expected to improve by 58% to approximately ($2.3) million compared to ($5.5) million.Net loss is expected to improve by 74% to approximately ($1.3) million compared to ($5.0) million. Preliminary Q4 2022 Financial Highlights (vs. Q4 2021) Revenue is projected to increase 20% to approximately $1.0 million, compared to $0.9million.Direct cost of revenues is expected to increase 98% to approximately $0.2 million, compared to $0.1 million.Operating expenses increased by 5% to $1.8 million, compared to $1.7 million.Operating loss is expected to improve by 11% to approximately ($0.7) million compared to ($0.8) million.Net loss is expected to improve by 9% to approximately ($0.8) million compared to ($0.8) million. About RDE, Inc. RDE, Inc. (OTCQB: RSTN) (Restaurant, Dining and Entertainment) is a pioneer in the restaurant deal space and the nation’s largest restaurant-...