On March 22, Creative Realities Inc. (CREX) declared its financial results for Q4 and fiscal 2021, which ended on December 31, 2021. Consequently, the beat in financial results caused the stock to soar high in the after-hours session.
The positive anticipation of the earnings had the stock trading in the green during the regular session. It seems investors were looking forward to the earnings with much enthusiasm as the stock added 5.93% intraday trading. At the close of the session, CREX had a value of $0.8580 per share while 8.82 million shares exchanged hands. The volume of the session remained well above the average at 813%. Following the announcement, the stock soared up to add a further 41.03% in the after-hours. Hence, the stock was trading at $1.2100 per share in the after hours. The after-hours session saw a heavy volume of 8.34 million shares.
The digital marketing technology and solutions provider, Creative Realities Inc. has a market capitalization of $9.72 million. Currently, the company has 12.01 million shares outstanding in the market.
CREX’s 2021 Financials
For fiscal 2021, the company reported an increase of 5.6% YOY in revenues to $18.4 million.
Moreover, the company had a gross profit of $8.4 million with an increase of 3% YOY while the consolidated gross margin decreased to 45.3% in fiscal 2021.
CREX had a net income of $0.2 million in fiscal 2021, against a net loss of $16.8 million in the previous year.
Furthermore, the company had adjusted EBITDA of $1.2 million in the year against an adjusted EBITDA loss of $3.2 million in fiscal 2020.
Merger with Reflect
On February 18, 2022, the company announced the finalization of its merger with Reflect Systems, Inc. which was previously disclosed in November 2021. Thus, the combined company is currently operating as Creative Realities, Inc. brand name while it continues trading on Nasdaq under ticker “CREX”.
Headquartered in Louisville, Kentucky, the combined company represents the full integration of the companies’ industry experience, knowledge, and expertise.
CREX’s Private Placement
On February 03, the company announced entering into definitive agreements for a private placement with an institutional investor in the U.S. The At-the-Market private placement included the sale and purchase of 1,315,000 common stock shares with warrants at $1.535 per unit and 5,851,505 pre-funded warrants and common warrants at $1.5349 per unit.
Closed on February 4, 2022, the net proceeds of the offering were intended for funding a portion of the Reflect merger.