RocketFuel Surpasses $3 Million ARR and Projects Continued Rapid Growth and path to profitability
Investor Call on Thursday, August 31, 2023
San Francisco, CA, Aug. 25, 2023 (GLOBE NEWSWIRE) — RocketFuel Blockchain, Inc. (OTCQB: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH bank transfers, Bitcoin and other cryptocurrencies, announced rapid growth in its second fiscal quarter, 2023 (FQ2), with 15-20x increases in daily transaction volume and daily revenue. RocketFuel believes that these results have solidified its position as a leading player in the payment solutions industry.
During July and August, 2023, RocketFuel saw its growth accelerate further from several new products introduced in recent months and a steady increase in the number of customers:
- Avg daily revenue increased approx. 20x to approx.. $8,500.
- Current ARR increased to $3M
- Daily transactions increased 15x from 200 to 3,000
- Currently cash flow neutral
RocketFuel’s revenue is currently growing 50%+ per month, and the company expects to become profitable with a projected ARR surpassing $5 million in October, 2023,
“Growing revenue 20x in less than 3 months is unparalleled in the industry and comparable companies are being valued at 5-7 times their projected revenue.
“With our current ARR at $3 million and a projected ARR of $8 million by the end of FY 2024 (March 31, 2024), we believe RocketFuel’s current valuation does not fully reflect the true value of our company,” said Peter Jensen, RocketFuel’s CEO.
Recent Developments Investor Call
| Date: | Thursday, August 31, 2023 |
| Time: | 11:00 AM ET |
| Dial-In Phone Number: | Dial-in: +1 253 215 8782 |
| Meeting ID: | 93345986207 |
| Passcode: | 324862 |
| Link: | https://audience.mysequire.com/webinar-view?webinar_id=f934b3d7-673b-477f-8eb2-1b3462030d29 |
About RocketFuel, Inc.
RocketFuel is a global payments solution company that provides online shoppers with a simple, easy-to-use, one-click checkout process that accepts payments with bank transfers, Bitcoin and 160+ cryptocurrencies. Our payout services allow businesses to easily distribute funds to their customers or partners, streamlining processes and increasing efficiency. For businesses involved in cross-border transactions, our B2B cross-border crypto payment solution offers a secure and cost-effective way to send and receive payments internationally. More information about RocketFuel is available at: www.rocketfuel.inc
Forward-Looking Statements Disclaimer:
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2023. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
For more information, please contact: monica.t@rocketfuel.inc
