TECH - TAAL Distributed Information Technologies (TAALF) - Results Below Expectations in Challenging Crypto Market

1Q22 Results. TAAL reported first quarter 2022 revenue of $8.7 million, up from $0.9 million in the year ago quarter but down from 4Q21 of $14.7 million. The sharp drop is due to the difficult operating conditions in the crypto market, including both declining values and reduced trade volumes. We had projected revenue of $12 million. TAAL reported a net loss of $12.7 million, or $0.33 per share, mostly driven by a sharp increase in non-cash share-based payments. We had estimated a net loss of $700,000, or $0.02 per share.Operating Environment. Declining prices and lowered volumes as a result of overall economic conditions have pushed expected operating growth to the right. BSV is currently selling for about $58, down from $121 at the beginning of the year. Total crypto volume declined to $2.25 trillion in the quarter, down from $3.73 trillion in the fourth quarter. Read More >>