- ARHT Media (ART) has announced its financial results for Q1, 2022
- Highlights include revenues of $1.4 million, a 20 per cent increase over Q1 2021
- The company plans to launch its new display product in Q2 2022 for the retail & corporate verticals
- ARHT Media is a holographic technology provider
- ARHT Media (ART) is up 11.11 per cent on the day, trading at C$0.20 per share at 3:15 pm ET
ARHT Media (ART) has announced its financial results for Q1, 2022.
Q1 2022 financial highlights:
- Q1 2022 revenues of $1.4M vs $1.2M in Q1 2021, an increase of 20 per cent
- Q1 2022 Net loss of $1.3M vs $0.8M in Q1 2021, an increase of 77 per cent
- Cash as of Mar 31, 2022 of $10.3M compared to $3.1M as of December 31, 2021, an increase of 232 per cent
Q1 2022 business highlights:
- Completed a $10M equity financing in February 2022
- Amended partnership agreement with WeWork.
- Welcomed two technology company executives to the Board of Directors
- Added strategic partners in Italy, South Africa and Australia
The company plans to launch its new display product in Q2 2022 for the retail & corporate verticals.
“With pandemic restrictions loosening, in-person events and product demonstrations are increasing. This shift, coupled with our recently completed financing has provided ARHT with the opportunity to expand our client base. Given our extremely high levels of repeat business, this investment should result in significant revenue growth in 2022,” stated ARHT CEO, Larry O’Reilly. “The Q2 launch of our new display technology, which has now been market tested in events in Brussels (Military), Las Vegas (Movie Industry) and Toronto (Music Industry) is expected to propel unprecedented demand for our complete range of live hologram products and services.”
ARHT Media is a holographic technology provider.
ARHT Media (ART) is up 11.11 per cent on the day, trading at C$0.20 per share at 3:15 pm ET.