AACI - Rezolve expects $138M cash burn improvement ahead of SPAC merger with Armada: Outlook

April, 06 2022 08:14 AM Armada Acquisition Corp. I

Rezolve - a mobile commerce and engagement platform that is to go public through SPAC merger deal with Armada I (NASDAQ:AACI) - improves outlook on lower than expected cost of merchant acquisition. The company stated Wednesday that it expects $138M improvement in 2022 cash burn, which means EBITDA loss is now expected at $34M, significantly down from initial guidance of $172M. Revenue guidance remains unchanged at $219M (+190% Y/Y) based on continued growth in new merchants and retention. In addition, Rezolve now expects to reach profitability during Q3 2023 based on funding through merger deal. That compares to company's prior projection of profitability in the Q2 2024. "We continue to believe mobile commerce is the future and our proprietary technology enables physical merchants to tap into this potentially massive opportunity.........We expect that additional funding from the SPAC trust would allow us to drive incremental merchant adoption and revenue growth," said

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Rezolve expects $138M cash burn improvement ahead of SPAC merger with Armada: Outlook

Company Name:	Armada Acquisition Corp. I
Stock Symbol:	AACI
Market:	NASDAQ

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