- Creatd 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.
Commented 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.”
Third Quarter 2022 Financial Highlights
Third Quarter 2022 Business Highlights
About Creatd
- Gross 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 Orbit, the new social stock trading app, Creatd successfully completed development for its beta release.
- The Company completed its acquisition of healthy breakfast food brand, Brave, marking the fourth addition to its CPG brand portfolio.
- Initiated fair value appraisal for the assets of OG Collection, Inc., the acclaimed media library owned and operated by the Company.
- Creatd continues to partner with leading brands including Equinox, Erewhon, Ollie, and Urban Outfitters.
Creatd, Inc. (OTCQB: CRTD) is a company with a mission to provide economic opportunities to creators and brands by multiplying the impact of platforms, people, and technology. Creatd’s pillars work together to create a flywheel effect, supporting our core vision of creating a viable and safe ecosystem for all stakeholders in the creator economy.
Creatd: https://creatd.com;
Creatd IR: https://investors.creatd.com;
Vocal Platform: https://vocal.media;
Investor Relations Contact: ir@creatd.com
Forward-Looking Statements
Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.
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SOURCE Creatd, Inc.
