Despite announcing strong financial results for the fourth fiscal quarter and the fiscal year, both of which ended on December 31, 2021, Voxtur Analytics Corp (OTCMKTS:VXTRF) saw its stock tank by as much as 7% yesterday.
On Monday, VXTRF stock declined 6.88% at $0.9684 with more than 722K shares, compared to its average volume of 325k shares. The stock moved within a range of $0.9159 – 1.1000 after opening trade at $1.10.
Voxtur Announces Record Results for Q4 and Year Ended December 31, 2021
The company, which is involved in developing a more open and transparent real estate lending infrastructure, saw its fourth quarter revenues hit $38.7 million, which represented a sequential rise of as much as 57% and a year on year rise of a staggering 548%. On the other hand, the revenues for the full fiscal year came in at $95.9 million and that reflected a year on year rise of as much as 368% year on year.
In the fourth quarter, Voxtur Analytics managed to generate gross profits to the tune of $12.6 million and that worked out to a year on year rise of 33%. On the other hand, the gross profits for the full fiscal year ended December 31, 2021 stood at $37.3 million and that worked out to a year on year rise of as much as 300%. The company noted that as of December 31, 2021 it had cash and cash equivalents to the tune of $41.5 million.
“2021 was a formative year for Voxtur, as we concentrated on revenue development through creative data-driven alternatives to established products in the valuation, title, and property tax spaces,” said Jim Albertelli, CEO of Voxtur. “We expanded our data set, added synergistic technologies, and focused on cross-selling opportunities. Due to our investment in growing our sales pipeline and technologies, we expect considerable revenue growth from new clients in 2022.”