Vinco Ventures Inc. (NASDAQ: BBIG), the trending meme stock, has been gaining immense popularity following the announcement of its Spin-off company Cryptyde (TYDE). However, the one thing that’s concerning its investors is that, the company has yet to release its fourth-quarter and full year earnings for FY21. In addition to that, investors are also counting down the days for Cryptyde’s record date; as every BBIG share holder will receive 1 TYDE share for every 10 BBIG shares they hold.
Companies have already started releasing their first quarter earnings for FY22. Therefore, BBIG investors are eagerly looking forward to the earnings disclosure. Moreover, the delay might have negatively affected the BBIG stock, as it has constantly landed up in the ‘red’ recently.
Expected Disclosure Date
Vinco Ventures is expected to release its earnings by tomorrow itself since the company sought for an extension from the U.S. Securities and Exchange Commission (SEC) on March 31, 2022. And according to the regulations a company gets an extension of 15 days, which will expire tomorrow, April 14, 2022, since the stock market is closed on April 15, 2022.
Rising Candle has reached out to Vinco Ventures to get more information. Any update received will be updated to our readers.
Earnings Estimates
There were no earnings or revenue estimates for the company offered by Zacks.
Earnings History
Vinco Ventures’ third-quarter earnings highlights include:
- Cash, cash equivalents, and restricted cash totaled $149.9 million at September 30, 2021.
- Revenue decreased 11.5% to $2.23 million from $2.52 million in the third quarter of 2020, driven primarily by the decrease in sales of personal protective equipment in the Edison Nation Medical division.
- Gross profit margin decreased to 31.4% from 40.3% in the third quarter of 2020. The decrease is mainly attributed to the decrease in sales of personal protective equipment in the Edison Nation Medical division.
- Selling, general and administrative expenses were $25.9 million, of which $6.2 million was stock based compensation, $5.6 million was due to legal and professional fees related to transactions and filings, and $5.1 million and $6.2 million related to the operating expenses (excluding Stock Based Compensation) of ZVV and Lomotif, respectively, since the close of the Lomotif transaction on July 23, 2021.
- Net loss in the third quarter of 2021 was $542.5 million, or ($7.59) per basic and diluted share, compared to a net loss of $2.8 million, or ($0.30) per basic and diluted share in the third quarter of 2020. The increase in the net loss is primarily due to the issuance of warrants during the quarter and the change in estimated fair value of outstanding warrants as of September 30, 2021, as well as the costs associated with the Lomotif transaction and the results of its operations, which were consolidated into the Company’s financial results for the first time this quarter. On a non-GAAP basis, net loss for the three months ended September 31, 2021 without the $494.1 million of losses due to warrant activity was $48.4 million or ($0.68) per share.
The Numbers
The BBIG stock was down by 3.07% and traded at $2.6268 (down by 0.0832 points) at 9:34 a.m. EDT in the market trading session today. The market capitalization of the stock stood at $491.35 million.
Ortex data suggests that, the exchange reported short interest went up by 14% to 28.43 million with Utilization still at 100%. Average cost to borrow is at 40% with days to cover a little above 1.
