SinglePoint Inc. Announces Second Quarter 2022 Results; Record revenue growth

Realized $4.5 million in Q2 revenue compared to $400,000 in Q2 2021

PHOENIX, August 16, 2022 /PRNewswire/ — SinglePoint Inc. (OTC:SING) (the “Company” or “SING”), a solar energy and sustainable solutions provider, today announced the Company’s second quarter results. Results 2022.

Highlights of the quarter

  • Record turnover of $4.5 millionup more than 890% for the comparable period in 2021
  • Gross profit of $3.2 million in the second quarter compared to $0.3 million for the comparable period in 2021
  • Boston Solar Recognized as Top Contractor for 2022
  • BOX Pure Air Recognized as California’s Leading Provider of EANS Funding to Improve IAQ in Schools
  • Several orders from schools are expected to improve indoor air quality (IAQ) for the third quarter of 2022

Management commentary

William RalstonCEO of SinglePoint, Inc., said, “We are thrilled with the execution of our entire team and the resulting financial results. In our view, these excellent results validate all that our management, staff and all of our partners in each subsidiary have been. over the past year. Revenue growth is exceptional, and we expect to continue to see strong growth and new record revenues. »

Ralston continued, “Significantly, we would like to emphasize that these quarterly results are not indicative of Boston Solar’s full second quarter, as we closed this acquisition on April 21, 2022. On a full quarterly basis, we would have recognized more than $5 million quarterly revenue. We expect Boston Solar’s throughput to increase throughout the third quarter, which means more installations completed and more revenue recorded. Boston Solar has already set new sales records throughout the quarter. Combined with the expected orders for BOX Pure Air in the third quarter, we expect the third to be another major growth milestone for the company. Our companies are well positioned in their rapidly growing markets to accelerate adoption of our services and meet increased demand.”

Business insights

The Company’s targeted growth strategy through acquisitions and internal internal actions has generated significant results. Management remains confident to meet its guidance for the year based on total annual revenue and expects the third quarter to show continued growth. The diversification of products, services and sources of income has provided relief and protection against periods when political or macroeconomic concerns have arisen. Staying focused on the Company’s core business units and creating a fully vertical integrated strategy increases investment returns for the Company and its shareholders. The results for the quarter demonstrate our continued commitment to staying focused and driving growth. The Company has not been immune to political or macroeconomic factors, which have resulted in constraints in the supply chain and the complexity of managing government contracts. However, with the recently passed Inflation Reduction Bill and its generous solar energy tax credits, we expect the tailwinds to be in SinglePoint’s favor for years to come.

Events to come

Sidotti- August 17e and 18e – SinglePoint Inc. will present at the virtual conference Sidoti Micro-Cap at 1:00 p.m. EDT, August 18 – The SinglePoint presentation is accessible live on:

https://sidoti.zoom.us/webinar/register/WN_xWnkkIRRQJ6qR4H5u-qUmg

The presentation will be available for viewing 90 days after the event.

Free registration for investors is available at:

https://www.meetmax.com/sched/event_85147/conference_register.html?attendee_role_id=SIDOTI_INVESTOR

About SinglePoint Inc (OTCQB: SING)

SinglePoint is a solar energy and sustainable lifestyle company currently in the solar energy and air purification markets. The company’s goal is to build the largest network of renewable energy solutions and modernize the traditional business model of solar power and energy storage. The Company continues to execute its acquisition strategy and explores future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, as well as other energy efficiencies and appliances that improve sustainability and healthier living.

For more information, visit the Company’s websites
www.singlepoint.com, www.bostonsolar.usand www.boxpureair.com.

Forward-looking statements
Certain statements in this press release may contain forward-looking information within the meaning of Rule 175 of the Securities Act of 1933 and Rule 3b-6 of the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements other than statements of fact included in this release, including, without limitation, statements regarding revenue projections, financing opportunities, potential plans and objectives of the company, anticipated growth and future expansion, are forward-looking statements that involve risks and uncertainties. . There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Technical and other complications, which may arise, could prevent the timely implementation of any strategically significant plan described above. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Investor contacts:
Tra-Digital IR
[email protected]nglePoint.com
(212) 389 – 9782 ext. 107

SOURCE SinglePoint Inc.