BitNile Holdings, Inc. (NILE) stock soared 21.08% in the current-market trading session at the price of $0.67 after reporting its financial results for the year 2021.
BitNile is a diversified holding firm seeking expansion by acquiring disruptive technologies and undervalued enterprises with a global influence. NILE operates a diverse data network for Bitcoin mining through its strategic investments and subsidiaries. The company delivers mission-critical products to support aerospace, automotive, biopharma, telecommunications, textiles, and other industries.
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NILE Year 2021 Results
On 18th April 2022, NILE published its financial results for the full-year ending 31st December 2021. The company has also filed a Form 10‑K with the securities and exchange commission.
The company reported cash of US$15.9M with other investments of US$84.9M on 31st December 2021. NILE calculated a working capital of US$11.5M with total assets of US$490.3M at the end of 2021. Revenue totaled US$52.4M for the year 2021. It represents a growth of 120%, or US$28.5M, from US$23.9M the prior year. Gross margins improved to 54.5% for 2021 compared with 31.5% last year.
NILE Business Outlook
NILE expects to turn some of its subsidiaries into publicly traded firms in 2022. Entering the fifth year of its ten-year strategy, NILE stock hopes to earn positive cash flow from its operations by increasing margins and scaling the growth. The company expects to finance its growth projects from internal free cash flow to reduce reliance on capital. Moreover, the stock expects to triple its results in 2022 by raising revenue to above US$155M.
Conclusion
NILE is a penny stock with significant future potential given its performance in the emerging business sectors. The stock has completed the fourth year of its ten-year strategic plan to scale the company to US$1.0B in assets. Despite the Covid-19 pandemic, market volatility, and supply chain challenges, the company is executing its strategy.
