BitNile (NILE) Sees 2023 Revenue Above $200M, Versus consensus of $111.4m

BitNile Holdings, Inc. (NYSE: NILE) announced revenue guidance for 2023 of more than $200 million, including anticipated revenue from the recently announced agreement to purchase assets of Circle 8 Crane Services, but excluding revenue from Imperalis Holding Corp. (to be renamed TurnOnGreen, Inc.) and Giga-tronics Incorporated, both of which have been announced as future spin-offs from the Company. The Wall Street consensus is $111.4 million.

The Company notes that all estimates and other projections are subject to a number of factors that could result in decreased revenue for fiscal 2023, including, but in no way not limited to: (i) the unforeseen delays in delivery and installation of Bitcoin miners, (ii) the volatility in, and downward pressure on, Bitcoin’s market price, (iii) the increase in the mining difficulty level, (iv) whether the Company will close the acquisition of Circle 8, (v) revenues and profits generated by its wholly owned subsidiary Ault Lending, LLC, (vi) the Company’s operations in the oil and gas industry and the potential continuation of falling crude oil prices, and (vii) a significant number of other factors that could adversely impact the results of production or operations.

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We have made substantial investments in our data center, mining operations and other business segments, which we believe will all contribute to the expected top line growth for 2023. We believe revenues from the Singing Machine Company, our hotel operations and the crane company, if acquired, will add stability to our gross margins in the future. We expect our capital expenditures to decrease given the last three years of heavy investment. As I have said before, we are focused more than ever on enhancing stockholder value and continuing to improve our financial results under difficult conditions in the marketplace.”

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