SFLMaven, Inc. (OTCMKTS:SFLM) is one of the biggest gainers in Thursday’s trading session on hefty volume after the company announced preliminary 2021 revenue guidance .
Market Action
As of 9:46, SFLM stock soared 45% to $0.0087 with more than 104.60 million shares, compared to its average volume of 8.26 million shares. The stock has moved within a range of $0.0059 – 0.0117 after opening the trade at $0.0062.
Major Trigger:
SFLMaven Announces $11 Million Preliminary 2021 Revenue Guidance
SFLMaven announced that estimated revenues for the year ending December 31, 2021 are expected to grow to at least $11 million.
“This preliminary estimate is based on the accelerating pace of revenue growth, including the recent multi-year weekly sales record of $318,000 and first quarter revenues of $2.7 million,” said Joseph Ladin, Chief Executive Officer of SFLMaven. “Our conservative projections now put us on track to generate at least $11 million of revenue this year, a nearly 40% increase over 2020 revenues and a return to our pre-pandemic revenue base.
“Combined with an increasingly strong gross margin profile driven by robust competitive bidding dynamics for our one-of-a-kind products, we believe operational execution in the months ahead will transition us towards near-term profitability. These efforts include refining ad campaigns to reduce expenses, improving advertising efficiency and scaling the quantity of listings. We are also broadening our multi-channel digital strategy and exploring other sales channels outside of eBay to diversify and expand our reach – we hope to provide more color on this front shortly.
Final recognized revenue is subject to the SFLMaven Corp.’s annual and quarterly audits and will accordingly be released with the Company’s audited financial statements and related annual and quarterly reports once fully reporting.
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