Clubhouse Media Group, Inc. Reports Year End 2022 Net Revenue of $6,283,691, A 47% Increase Compared to 2021
2022 End of Year Summary Compared to 2021 End of Year Summary
- Total net revenue increased
47.7% to , compared to$6,283,691 $4,253,765 - Operating expenses decreased
72.6% to compared to$4,251,947 $15,514,421 - Operating loss decreased
79.9% to compared to$2,965,855 $14,731,518 - Gross profit margin increased to
20.5% , compared to18.4% - Total liabilities decreased
16.4% to , compared to$8,921,990 $10,668,403
Management Commentary
"2022 was a strong year for us and it's reflected in the numbers" said
"2022 was a good year for the company financially and our goal is to continue on this trajectory in 2023 by further increasing revenue and decreasing our expenses" said
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About
CMGR offers and deal-making services, a management division for brands and individual influencer clients, and an investment arm for joint ventures and acquisitions for companies in the social media influencer space.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements". Forward-looking statements also may be included in other publicly available documents issued by CMGR and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause CMGR's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for CMGR's products and services, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the
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