BBIG has experienced a gain of 9.32% in the aftermarket without any specific reason. However, the last trading session closed at $9.66 with an increase of 21.05%.

Financial Results for the Second Quarter of 2021

The firm released its second-quarter financial results on August 23, 2021, for the period ending June 30, 2021. For the three months ended June 30, 2021, revenue decreased by 47.97 percent to $2.69 million.

The gross profit for the three months ended June 30, 2021, on the other hand, was $198,424 less than the gross profit for the same period in 2020. Lower sales of personal protective equipment are to blame for the Edison Nation Medical division’s revenue decrease.

BBIG Announces Emmersive Entertainment’s ‘Spin Out’

Emmersive Entertainment, which was recently featured on 60 Minutes Plus, will be spun off into its own publicly traded business on June 24, 2021, according to BBIG.

According to the firm, the resulting Emmersive Entertainment Public Company will be led by current Vinco Ventures Chief Strategy Officer Brian McFadden.

The deal is expected to close in Q3 2021, and the Shareholder of Record Effective Date will be announced soon.

BBIG’s Financial Results for the Three Months Ending March 31, 2021

According to BBIG’s financial results that were released on May 25, 2021, revenue increased by 31.32 percent to $2.57 million for the three months ending March 31, 2021, compared to $1.95 million for the same period last year.

The gross profit for the three months ending March 31, 2021, was $0.9 million, up 56.64 percent from $0.6 million in the same period the previous year.

For the three months ending March 31, 2021, the gross margin increased 17.72 percent to 35.54 percent, compared to 30.19 percent for the same period in 2020.

BBIG Announces Exclusive NFT Album by Mega Hit Artist Tory Lanez

On 19 May 2021, BBIG announced that Tory Lanez, a famous rapper, singer, songwriter, and record producer, is poised to release an exclusive NFT through its subsidiary, Emmersive Entertainment.

Tory, who is known for his out-of-the-box thinking, is collaborating with Emmersive Entertainment on a creative campaign that is certain to go down in history with his new album of original music and artwork. Tory has built a career as a creative disruptor as a pioneer in the NFT area. Tory’s NFT album will be accessible only on Emmersive Entertainment’s forthcoming platform.