Cyberlux Corporation (OTC:CYBL) Raises its Revenue Guidance for 2022 by 47% for the Full Year
Back to Newsroom

Cyberlux Corporation (OTC:CYBL) Raises its Revenue Guidance for 2022 by 47% for the Full Year

Wednesday, December 22, 2021 3:38 PM
Cyberlux Corporation

Company informs Shareholders and Investors that its revenue is expected to grow beyond prior estimates for the full year 2022 outlook.

RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / December 22, 2021 / Today, Cyberlux Corporation, (OTC Bulletin Board:CYBL), an advanced technology platform company leading the digital transformation across industries with advanced unmanned aircraft systems (UAS) solutions, LED lighting solutions, renewable energy and infrastructure technology, and infrastructure software-as-a-service solutions, announced the Company is increasing its revenue guidance for the full year 2022 from $30.5 million to $44.8 million, an increase of 47 percent from the Company's prior guidance. In addition, the Company is expecting to post significant positive growth in net income from Operations for the full year 2022.

Cyberlux Corporation CEO Mark Schmidt provided commentary on the new estimates:

"Dear CYBL Community, we are beyond excited to raise our 2022 revenue guidance for the full year from $30.5 million to $44.8 million, an increase of $14.3 million, up 47% from the prior estimate as provided in our recent Investor Relations presentation. During the last six months, we have been working with our channel partners, our industry partners and our key customers across our four business units - FlightEye Unmanned Aircraft Systems, Advanced Lighting Systems, Infrastructure Technology Solutions and Infrastructure Software Solutions - to target the highest impact and most scalable opportunities. Last week, we were able to confirm our 2022 revenue guidance with the contract and opportunity pipeline we have in front of us now. This is a remarkable time for the Company, and as we all saw in our October and November revenue results, and our subsequent revision of the 2021 full year guidance, we have fully begun the transformation of Cyberlux into an Advanced Technology Platform company, particularly with our ongoing strategic intellectual property development efforts. Now we expect the business in 2022 to far exceed our prior expectations, up over $14 million in revenue across our business units, especially driven by our newly emerging Infrastructure Software Solutions group. We'll have more to say on our software-as-a-service group in the coming days, but we are truly harnessing the future with this business unit. We are literally only six months into the Company transformation with the launch of Operation Alpha, and our revenue growth is almost 50% higher than we initially imagined for 2022. We are very well positioned for 2022 to be a fully transformative year for Cyberlux and we are seeing growth across all our business units, which is truly exciting. We are really just getting started!"

The Company's Operation Alpha growth plan has three top priorities: (1) drive growth through aggressive business development, acquisitions and joint ventures; (2) address core target markets with DoD products, new specialty UAS technology capabilities, solar and renewables, and with emerging infrastructure projects; and (3) gain immediate business velocity by focusing on the new business and the new product pipeline, accelerating the South American projects, continuing to build out the Company's organization, and driving the Company's strategic IP development.

Moving forward, Cyberlux Corporation is "Harnessing the Future" by leading digital transformation across selected industries, by driving operational growth through an accelerated acquisitions and joint ventures strategy, with growth from current and future technology developments, including fundamental organic growth from the Company's four business units, all driving Cyberlux to be a leading technology growth company.

About Cyberlux Corporation

Cyberlux Corporation (OTC Bulletin Board:CYBL), is an Advanced Technology Platform Company leading the digital transformation of selected industries by driving growth through acquisitions, joint ventures and organic growth in the Unmanned Aircraft Systems (UAS), Advanced Lighting Systems, Infrastructure Technology and Software & Services markets. Our customers are U.S. agencies, including the Department of Defense (DoD), State and Local governments, select OEM commercial markets, and global customers across North and South America and Europe. For more information, please visit www.cyberlux.com. For investor information, please contact: [email protected]

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

Topic:
Company Update
Back to newsroom
Back to Newsroom