Ault Alliance Announces Preliminary Second Quarter 2023 Revenue of $47 Million, up 172% from Second Quarter 2022 and up 52% from First Quarter 2023
26 July 2023 - 8:30PM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance” or the “Company”) today announced
preliminary unaudited revenue for the three-month period ended June
30, 2023.
Key highlights of Ault Alliance’s second quarter 2023 financial
performance included:
- Preliminary revenue for the three months ended June 30, 2023
significantly increased by $29.9 million, or 172%, reaching $47.3
million, from $17.4 million recorded in the same period of 2022;
and
- From the first quarter of 2023, the preliminary second quarter
2023 revenue showed a robust growth of $16.1 million, or 52%, up
from $31.2 million for the three months ended March 31, 2023.
Preliminary unaudited revenue by business segment are as
follows:
Preliminary
Actual
Actual
Business Segment
Q2-2023
Q1-2023
Q2-2022
Giga-tronics Incorporated
$
8,800,000
$
8,708,000
$
6,503,000
Imperalis Holding Corp., d/b/a
TurnOnGreen, Inc.
700,000
876,000
1,062,000
Technology and finance:
The Singing Machine Company, Inc.
2,600,000
3,383,000
-
Revenue, cryptocurrency mining
8,400,000
7,347,000
3,976,000
Revenue, commercial real estate leases
300,000
458,000
272,000
Revenue, lending and trading
activities
9,500,000
(4,939,000
)
943,000
Ault Global Real Estate Equities, Inc.
4,400,000
2,243,000
4,598,000
Energy and Infrastructure:
Circle 8 Crane Services LLC
12,600,000
12,646,000
-
Other
-
464,000
12,000
Total revenue
$
47,300,000
$
31,186,000
$
17,366,000
Expressing his satisfaction with the second quarter performance,
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated,
“Our unwavering commitment to robust revenue growth is reflected in
our impressive second quarter 2023 results. Key contributors to our
significant growth include our lending and trading operations and
Bitcoin mining operations. Our strategic investments across three
major segments - technology and finance, real estate, and energy
and infrastructure - have formed a solid foundation for sustained
growth. Furthermore, the consistent positive impact of the Circle 8
crane operations since its strategic acquisition in December 2022
underscores the success of our diversified investment approach.
Looking ahead, we are optimistic and resolute about maintaining
this upward trajectory for the remainder of 2023 and beyond, given
our solid business foundation.”
For more information on Ault Alliance and its subsidiaries, Ault
Alliance recommends that stockholders, investors, and any other
interested parties read Ault Alliance’s public filings and press
releases available under the Investor Relations section at
www.Ault.com or available at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, Ault
Alliance owns and operates a data center at which it mines Bitcoin
and provides mission-critical products that support a diverse range
of industries, including metaverse platform, oil exploration, crane
services, defense/aerospace, industrial, automotive,
medical/biopharma, consumer electronics, hotel operations and
textiles. In addition, Ault Alliance extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.
Ault Alliance’s headquarters are located at 11411 Southern
Highlands Parkway, Suite 240, Las Vegas, NV 89141;
www.Ault.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.Ault.com.
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