Ault Alliance Sets 2024 Revenue Goals at $230-$240 Million
December 26 2023 - 5:30AM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance,” or the “Company”), today
outlined its revenue objectives and other corporate initiatives for
2024. The Company is targeting gross consolidated revenue between
$230 million and $240 million. Additionally, Ault Alliance
reiterates that it has successfully completed the repayment of its
$38.5 million senior secured debt as of December 14, 2023. The
Company is updating the market with these projections based upon
substantial growth at Sentinum, Inc. (“Sentinum”), its data
center operations and Bitcoin mining sector, further complemented
by the strong performance of its crane rental business, Circle 8
Crane Services, LLC (“Circle 8”).
These announcements mark significant achievements for the
Company, showcasing its commitment to sustainable growth, financial
discipline and enhancing stockholder value. The upcoming exchange
offer alongside the debt repayment highlight the Company’s efforts
to improve its capital structure and future capital management
strategy. The significant growth in Sentinum’s operations, along
with Circle 8’s exceptional performance, demonstrate the Company’s
dedication to its core verticals and commitment to these
industries.
Milton “Todd” Ault III, Executive Chairman of Ault Alliance,
emphasized, “Our revenue targets for 2024, the completed debt
repayment, and our focus on our key business segments reflect our
diversified approach to business growth and our commitment to
enhancing stockholder value. Each of these sectors plays a critical
role in our collective success, underscoring our ability to
capitalize on emerging market opportunities and technological
advancements.”
The Company notes that all estimates and other projections are
subject to a number of factors that could result in decreased
revenue for fiscal 2024, including, but in no way not limited to:
(i) the unforeseen delays in completing the buildout of the
Company’s new data center in Montana and the transfer of Bitcoin
miners to that location from current third party hosted centers;
(ii) the volatility in, and downward pressure on, Bitcoin’s market
price; (iii) the increase in the Bitcoin mining difficulty level
and the impact of the forthcoming halving; (iv) revenues and
profits generated by its wholly owned subsidiary Ault Lending, LLC,
which includes unrealized gains and losses on marketable securities
from changes in prices, which can cause significant volatility
between periods; and (v) a significant number of other factors that
could adversely impact the results of production or operations.
For more information on Ault Alliance and its subsidiaries, Ault
Alliance recommends that stockholders, investors, and any other
interested parties read Ault Alliance’s public filings and press
releases available under the Investor Relations section at
www.Ault.com or at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, Ault
Alliance owns and operates a data center at which it mines Bitcoin
and offers colocation and hosting services for the emerging
artificial intelligence ecosystems and other industries, and
provides mission-critical products that support a diverse range of
industries, including a metaverse platform, oil exploration, crane
services, defense/aerospace, industrial, automotive,
medical/biopharma, consumer electronics, hotel operations and
textiles. In addition, Ault Alliance extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.
Ault Alliance’s headquarters are located at 11411 Southern
Highlands Parkway, Suite 240, Las Vegas, NV 89141;
www.Ault.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are
made, and the Company undertakes no obligation to update any of
them publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8- K. All filings are available at www.sec.gov and on the Company’s
website at www.Ault.com.
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Ault Alliance Investor Contact: IR@Ault.com or
1-888-753-2235
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