Company provides Shareholders and Investors with key updates and milestones that were achieved during November 2021
RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / December 7, 2021 / Today, Cyberlux Corporation, (OTC PINK:CYBL), an advanced technology platform company and a leading provider of LED lighting, renewable energy and infrastructure technology, and advanced unmanned aircraft systems (UAS) solutions, provided an update on the Company's key accomplishments during the month of November 2021.
Cyberlux Corporation CEO Mark Schmidt stated:
"Dear CYBL Community, we had our fourth consecutive month of exceeding our plans and expectations, and we are particularly excited that November was our third month in a row where we beat revenue forecasts, which made it a great month by all measures. We announced our best month of November revenue ever, we increased our revenue outlook for 2021, acquired 30 hectares of solar power generation property for the production of 20MW of renewable energy starting in 2022, participated in an outstanding joint field exercise with new Department of Defense customers, began the full pursuit on the new infrastructure bill spending across six states, and started the next phase of the company's growth with investment banking strategy meetings in NYC. Here's a quick recap of what transpired:
- We reported revenue for November of $1,509,267 which exceeded both the June projection of $1,000,000 by 51% and the new revised November outlook of $1,100,00 by 37%. In addition, our year-to-date revenue through November is $6,045,174, which also exceeded our revised Q4 revenue ramp by 37% as well.
- We increased our revenue guidance for the full year 2021 from $5.2 million to $6.6 million, an increase of 26.9% from the Company's prior guidance. In addition, we expected to post positive net income from Operations for the full year 2021.
- We have finalized the acquisition of 30 hectares of solar generation property in the Sabanalarga region of Colombia. We are evaluating plans to optimize profit generation including two energy reseller partnerships and three cryptocurrency mining alternatives. We expect to bring the facility online in 2022 and produce a minimum of 20MW of electricity, with additional property rights available from our HAVAS acquisition for further expansion. We are still determining the best partnership agreements for the optimal profit model, with both a short-term risk and long-term growth consideration. We will be releasing further details as soon as the plans are finalized.
- We published our Q3 2021 financial report with the following highlights:
1. 613% increase in Q3 vs. Q2 Revenue, $2.251M vs. $367K.
2. 50.1% increase in Q3 Revenue vs. June Q3 estimates, $2.251M vs. $1.5M.
3. Net Income of $155K for Q3 which was 252% Year over Year.
4. YTD Net Income of $543K which was 289% Year over Year. - We have made significant progress during November in the Advanced Lighting Solutions (ALS), the FlightEye UAS and the Infrastructure Technology Solutions (ITS) business units.
- For the ALS and FlightEye business units, we had a very successful field exercise on November 17-18, with significant DoD opportunities, both public and private. We have new customers and non-US defense customers to help drive our 2022 growth. We expect to share public details later in December.
- For the ITS business unit, we had two days of execution planning in our Miami office as part of the infrastructure spending bill, and we are in very competitive pursuit of $47M in rural broadband infrastructure across six states, most likely in the role of subcontractor utilizing our core expertise from the FBD Group acquisition. We are also driving proposals with ten municipal government opportunities. Our ITS group is also expanding in further in Europe as well. We expect to share public details later in December.
- We met with potential investment banking partners in NYC and have the foundation for our plans going forward including several uplisting strategy proposals. We expect to finalize in early Q1 2022.
- Last, and perhaps most importantly, we made strides with our fundamental strategic IP development. We expect to release some next level information before year-end.
We had a great November and Q4 is on track to be our best ever. As planned, we had growth from acquisitions and from the large markets we are addressing, and we even exceeded our revised November outlook by 37%. I want to thank the CYBL team for their ongoing 24/7 dedication to grow our business, including the third consecutive month of exceeding our revenue expectations, this month with $1.51M. We are fundamentally advancing the Cyberlux company in all four of our business units, including the new pivotal asset acquisition of the 30 hectares of the solar power generation, among the many other accomplishments across the organization. We have one of the best IR teams and I appreciate their constant engagement to provide our shareholders with the best investor relations support possible. The growth we are having is what harnessing the future truly means!"
About Cyberlux Corporation
Cyberlux Corporation (OTC PINK:CYBL), an advanced technology growth platform company, is a leader in solid-state lighting innovation, has developed breakthrough LED lighting, energy efficiency technology, advanced infrastructure technology, and advanced unmanned aircraft systems (UAS) technology solutions, available today in U.S. government agencies, commercial markets and international opportunities. For more information, please visit www.cyberlux.com. For investor information, please contact: ir_cybl@cyberlux.com
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: Cyberlux Corporation
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