The Company now expects 2020 full year revenue to exceed $14 million and operating income to exceed $1 million
SAN ANTONIO, June 16, 2020 (GLOBE NEWSWIRE) -- CloudCommerce, Inc. (CLWD), a leading provider of digital advertising solutions, today announced that it now expects 2020 full year revenue to exceed $14 million and net operating income to exceed $1 million. Management’s confidence to provide guidance was driven primarily by contracted revenue from its existing client base and new clients added within the last few months.
The Company also revealed that in spite of the fact that 2020 is a major year for elections, it does not have any political clients. All revenue in 2020 is expected to come from non-political, businesses and organizations.
The Company further announced that its improved financial performance will allow it to create greater shareholder value by continuing its efforts to reduce future equity dilution by retiring certain highly dilutive convertible notes.
“This has been a real team effort,” said Andrew Van Noy, CEO of CloudCommerce. “In spite of the COVID-19 pandemic headwinds, our team members are setting new performance records. As a result, 2020 promises to be the best year ever for CloudCommerce.”
About Cloud Commerce, Inc.
CloudCommerce, Inc. (CLWD) is a leading provider of digital advertising solutions. Our flagship solution, SWARM, analyzes a robust mix of audience data to help businesses find who to talk to, what to say to them, and how to market to them. We do this by applying advanced data science, behavioral science, artificial intelligence, and market research techniques to discover, develop and create custom audiences for highly targeted digital marketing campaigns. CloudCommerce was Ranked Number 235th Fastest Growing Company in North America on Deloitte’s 2019 Technology Fast 500™. To learn more about CloudCommerce, please visit our website at www.CloudCommerce.com.
Forward Looking Statements
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