Cyberlux Corp CYBL

Cyberlux Corporation Raises its Revenue Guidance for 2022

[AveragePenny]

"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!"

https://www.accesswire.com/679175/cyberlux-corporation-otc-cybl-raises-its-revenue-guidance-for-2022-by-47-for-the-full-year