Troika Media Group, Inc. (TRKA) experienced an increase of 33.54% in the aftermarket. However, the last trading session closed at $1.61 with an incline of 8.05%.
Fourth Quarter and Fiscal 2021 Results
TRKA reported fourth quarter and fiscal 2021 results on 29th September 2021. Revenues were $3.8 million 3% down from $3.9 million the previous year. The Company reported $2.6 million in gross earnings with a 21% reduction from $3.3 million the previous year. Due to the impact of COVID-19’s financial disruption, results in the fourth quarter reflect comparisons to the prior-year period. However, cash and cash equivalents were $12.1 million as of December 31, 2020. Moreover, during the fiscal year 2021, the COVID-19 pandemic continued to wreak havoc on the TRKA’s operations. This affected client activities, notably live event traffic.
The quick spread of the Delta version over much of the globe prompted government restrictions. Temporary closures of non-essential enterprises, travel restrictions, social segregation, and quarantines were among the limitations imposed. To successfully manage the changing business climate, the Company undertook cost reduction measures in some sectors of the company.
Crossroads NFT Exhibit Sponsorship
TRKA announced on 23rd September 2021 that the company’s subsidiary i.e., Troika IO is involved in sponsoring the Crossroads Exhibit program. The company is happy to support Umba Daima’s Crossroads Exhibit. There are countless brilliant Black and African artists across the world. Therefore, TRKA feels that the NFT exhibition is a fantastic chance to display their incredible work while also tackling societal injustices. However, Umba Daima also collaborates on innovative initiatives with businesses, sportsmen, celebrities, and artists. Umba Daima created Black NFT Art in March 2021. It is a media and community brand aimed at educating, organizing, and amplifying Black individuals in the NFT sector. Their goal was to assist attempts to establish an environment in which Black artists could mint, advertise, and sell their work effectively.
About TRKA
TRKA is a full-service brand solutions provider that adds value to worldwide companies in entertainment, sports, and consumer goods in both the short and long term. TMG helps businesses increase connection with audiences and followers across the customer experience while also building brand equity through new technologies, data science, and world-class creativity. Apple, Hulu, Riot Games, Belvedere Vodka, Unilever, UFC, Peloton, CNN, HBO, ESPN, Wynn Resorts and Casinos, Tiffany & Co., IMAX, Netflix, Sony, Yahoo, and Coca-Cola are among the companies that have worked with TRKA.
