Business appears to be absolutely booming for Qyou Media (TSXV: QYOU). The youth-oriented media firm this morning revised its previously issued revenue guidance, with guidance improving by an impressive 51.6% for its first quarter 2022 financial results.
Previously pegged at between $3.1 million and $3.8 million, the company this morning dramatically improved its revenue guidance for the quarter ended September 30, 2021. Qyou now expects revenues to come in between $4.7 and $4.8 million, a substantial improvement for the firm whom has had a standout year.
The company also denotes that the quarter is “more than a full quarter accelerated increase on revenue guidance.” What’s more, is the company has seen revenue increase from just $300,000 in the period ended March 31, 2021, to that of $4.7 million just two quarters later. The firm this morning also reiterated prior guidance of revenue between $2.6 to $2.7 million for the fiscal fourth quarter of 2021, for the period ended June 30, 2021.
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“It is gratifying to see strong financial momentum accompanying the tactical and strategic achievements being made in every segment of our business. We are incredibly well positioned to continue this growth as every macro theme surrounding our business in social and influencer driven video and content is poised for continued growth,” said CEO Curt Marvis on the results.
The firm indicated that the growth has been seen across all operating segments, including “month over month recover advertising sales from July through September.”
Qyou Media last traded at $0.315 on the TSX Venture.
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