Ault Alliance Announces Record Preliminary 2023 Revenue of $153 Million, up 30% from 2022
27 2월 2024 - 8:30PM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance,” or the “Company”), today
announced its preliminary financial results for the twelve-month
period ended December 31, 2023.
Full year 2023 highlights include:
- Preliminary revenue for the year ended December 31, 2023
increased by $35.4 million, or 30%, to a record $153.0 million,
from $117.6 million for the year ended December 31, 2022;
- Revenue excludes results from discontinued operations at Ault
Global Real Estate Equities, Inc. (“AGREE”) as Company’s
real estate properties, which include recently renovated hotels and
land, met the criteria for classification as held for sale;
- Revenue for the year ended December 31, 2023 would have been
$169.2 million if it had included AGREE;
- Sentinum, Inc. (“Sentinum”) data center and Bitcoin
mining revenue grew approximately 97% from the prior period from
$17.8 million to $34.5 million;
- Circle 8 Crane Services, LLC (“Circle 8”) revenue growth
of approximately 1696% from the prior period from $2.7 million to
$49.2 million (Circle 8’s revenue growth is primarily attributable
to full year of ownership); and
- Giga-tronics, Inc. (“GIGA”), a defense industry company,
had revenue growth of approximately 25% from the prior fiscal year
from $30.3 million to $37.8 million.
Revenues by segment for the twelve months ended December 31,
2023, were as follows:
Segment
2023
2022
Sentinum
$
34,523,000
$
17,798,000
Ault Capital Group
118,488,000
99,839,000
Total revenue
$
153,011,000
$
117,637,000
AGREE (discontinued operations)
$
16,161,000
$
16,697,000
Total including AGREE
$
169,172,000
$
134,334,000
Milton “Todd” Ault III, Founder and Executive Chairman of Ault
Alliance, reflected on the year-over-year growth, saying, “The
Company continues to post strong year-over-year revenue growth.
This year, we are pleased to announce that our operations now
report under two subsidiaries, Sentinum and Ault Capital Group, to
better reflect our diverse and strategic interests. Sentinum’s
focus on data center operations and Bitcoin mining, along with Ault
Capital Group’s management of our varied operating companies and
investments, positions us to better capitalize on the opportunities
for our asset base.”
“Additionally, the recent uptick in Bitcoin prices has
positively impacted our outlook, enhancing the future prospects for
Sentinum and, by extension, the company as a whole. We have
previously announced plans to focus on properly monetizing our
existing asset base and unlocking the true value of our assets
through streamlining operations and maintaining a focus on
profitability at each entity. The Company has experienced massive
growth over the last three years and will concentrate on digesting
this growth and optimizing operations while being attentive
stewards of our asset base.”
For more information on Ault Alliance and its subsidiaries, Ault
Alliance recommends that stockholders, investors, and any other
interested parties read Ault Alliance’s public filings and press
releases available under the Investor Relations section at
www.Ault.com or at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, Ault
Alliance owns and operates a data center at which it mines Bitcoin
and offers colocation and hosting services for the emerging
artificial intelligence ecosystems and other industries, and
provides mission-critical products that support a diverse range of
industries, including a metaverse platform, oil exploration, crane
services, defense/aerospace, industrial, automotive,
medical/biopharma, consumer electronics, hotel operations and
textiles. In addition, Ault Alliance extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.
Ault Alliance’s headquarters are located at 11411 Southern
Highlands Parkway, Suite 240, Las Vegas, NV 89141;
www.Ault.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are
made, and the Company undertakes no obligation to update any of
them publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8- K. All filings are available at www.sec.gov and on the Company’s
website at www.Ault.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240227248077/en/
Ault Alliance Investor Contact: IR@Ault.com or
1-888-753-2235
Ault Alliance (AMEX:AULT)
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Ault Alliance (AMEX:AULT)
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