OLB Group Inc Stock Price, News & Analysis

NEW YORK, NY / ACCESSWIRE / March 30, 2023 / The OLB Group, Inc. (NASDAQ:OLB) will hold an Earnings Conference Call on March 31, 2023, at 4:30 PM ET. The company will report its 2022 financial results, showcasing a significant revenue increase of 81.7%. Interested shareholders and investors can register for the call and submit questions. OLB focuses on providing Fintech eCommerce merchant services and has a robust cloud-based platform servicing over 10,500 merchants across all states. Future updates can be obtained by contacting the company directly or visiting their website.

The OLB Group (NASDAQ: OLB) reported a significant 81.7% year-over-year revenue increase, achieving $30.4 million for 2022 compared to $16.7 million in 2021. The financial results reveal a strong performance in the Fintech Services segment, which generated $29.6 million. However, processing and servicing costs rose to $23.2 million, reflecting a 71.8% increase, and G&A expenses surged by 88.1% to $4.5 million. The company operates a Bitcoin mining subsidiary DMint, which relocated to Tennessee for better energy rates. Furthermore, OLB ended the year debt-free and reported an annualized transaction volume run rate of $1.2 billion.

OLB Group, (NASDAQ:OLB), has announced that it has regained compliance with the Nasdaq minimum bid price requirement after its stock closed at $1.00 per share or higher for 10 consecutive business days from January 12 to January 27, 2023. This development indicates that the company is no longer at risk of delisting from the Nasdaq. The OLB Group operates as a fintech eCommerce merchant services provider and cryptocurrency mining enterprise, serving over 10,500 merchants across the United States. The company emphasizes its commitment to sustainable Bitcoin mining operations through its subsidiary, DMint.

OLB Group will present an investor update at the Emerging Growth Virtual Conference on January 11, 2023. The presentation features CEO Ronny Yakov and VP Patrick Smith, focusing on the company's eCommerce merchant services and Bitcoin mining operations. OLB is initiating a stock buyback program to enhance shareholder value. Investors can submit questions before the event, which lasts from 1:10 - 1:25 PM ET. The presentation will be accessible live and archived for later viewing.

OLB Group (NASDAQ:OLB) announced that its senior management purchased 114,143 shares in open-market transactions since December 1, 2022. The company has also bought back 116,272 shares as part of its stock buyback program, aiming to reduce shares outstanding by 1,000,000. CEO Ronny Yakov expressed confidence in the company’s value, noting projected revenue growth nearing 100%, targeting $31 million for 2022, despite the current market cap of roughly $13 million.

OLB Group (NASDAQ:OLB), a diversified Fintech eCommerce provider, announced an investor update presentation at the Emerging Growth Virtual Conference on December 14, 2022, from 12:15 - 12:30 PM ET. The management will discuss recent developments in the company's e-commerce and cryptocurrency mining operations, including a stock buyback initiative aimed at boosting shareholder value. This conference will also feature a Q&A session, allowing investors to engage directly with the leadership team.

The OLB Group (NASDAQ:OLB) has initiated a stock buyback program, authorizing the purchase of up to 1 million shares of its common stock. The company has no corporate debt and a market valuation of approximately $12.5 million, with a projected revenue of over $32 million for 2022. CEO Ronny Yakov highlighted that buying shares at low valuations enhances shareholder value. The buyback will be conducted periodically, depending on cash flow and market conditions, using existing cash balances.

OLB Group, Inc. (NASDAQ:OLB) will present at the Emerging Growth Virtual Conference on November 30, 2022, from 2:05 to 2:35 PM ET. The management team, including Chairman & CEO Ronny Yakov and VP Patrick Smith, will discuss the company's e-commerce merchant services and cryptocurrency mining operations, highlighting a recent partnership with Cuentas, Inc. (Nasdaq:CUEN). Attendees can register for the live presentation and submit questions via email. An archived webcast will be available post-event. Interested parties can notify themselves of future updates by emailing ir@olb.com.

The OLB Group, Inc. (NASDAQ:OLB) reported substantial growth for the nine months ending September 30, 2022, with revenue soaring to $23.4 million, three times higher than the $7.9 million reported in the previous year. Key highlights include a positive Adjusted EBITDA of $794,664 and total corporate assets amounting to $41.2 million. The company maintains a healthy cash balance of approximately $2.3 million and zero unsecured debt. The annualized revenue run rate is projected between $31.2 million and $34 million for 2022.