Business
RDE, Inc. Reports Record Second Quarter Financial Results with 130% Growth to $1.8 Million Revenue and $0.01 EPS for the 1st Half of 2022
Business-to-Business Partnerships Accelerating Revenue Growth and Profitability ATLANTA, GA, Aug. 03, 2022 (GLOBE NEWSWIRE) -- RDE, Inc. (OTCQB: RSTN) (the
About this update from Giftify, Inc.
[{"type":"text","content":"Business-to-Business Partnerships Accelerating Revenue Growth and Profitability ATLANTA, GA, Aug. 03, 2022 (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 financial and operational results for the second quarter ended June 30, 2022. Key Financial Highlights for: Three Months Ended June 30, 2022 Compared to Prior Year Period Revenue increased 130% to $1.8 millionOperating loss decreased 92% to $0.2 millionNet loss decreased 92% to $0.2 millionCash balance of $2.2 million Six Months Ended June 30, 2022 Compared to Prior Year Period Revenue increased 61% to $2.6 millionOperating loss decreased 75% to $1.0 millionAchieved net income of $0.1 million, as compared to a net loss of $3.4 million Business Highlights for the Second Quarter Ended June 30, 2022 Closed agreement with a national mobile telephone provider to provide a dining and movie promotionPartnered with SWIPEBY to offer virtual drive-thruPartnered with Fresh Vine Wine to expand offering to consumers for complete dining and beverage experiencePartnered with Blackhawk Network to offer eGifts at GiftCardMall.com and other major digital retailers Management Commentary Ketan Thakker, Chief Executive Officer of RDE, Inc., commented, “We are thrilled with our quarterly and year-to-date results, as we achieved record revenue growth of 130% to $1.8 million revenue for the second quarter and net income profitability for the first half of 2022. Many of the partnerships and agreements we have secured over the past year have successfully integrated and deployed and are leading to accelerated revenue growth and improved profitability.” Thakker, continued, “We believe enhancements to our platform, integration with our business partners and our continued focus on retention and monetization will increase user engagement and revenue opportunities. We will continue to further expand and develop our application platform as we seek to build shareholder value.” Financial Results for Three Months Ended June 30, 2022 Revenue for the three months ended June 30, 2022 increased by 130% to $1.8 million, compared to $1.0 million for the three months ended June 30, 2021. This increase was primarily attributable to an agreement entered into during the three months ended Jun...