For the three months ended September 30, 2021, Creatd reported record financial results. For the nine months ended September 30, 2021, the Company’s revenues were up 19% compared to the same period in the prior year. The Company also reaffirms its revenue guidance for the year ending March 31, 2022, at between $4.5 and $4.7 million. CRTD stock rockets as much as 27% today to cost $3.98 Net revenues for the third quarter of $1.18 million, which was in line with the Company’s guidance, were a three-fold increase over the same period last year. The increase in revenues was primarily due to the continued growth of the Company’s creator subscriptions and the acquisition of the WHE Agency.
For the first nine months of 2021, net revenues of Creatd Labs grew 178% over the same period a year ago. The company’s robust growth is expected to continue throughout the remainder of the year. As for the new ventures, they are expected to contribute significantly to the company’s revenues in the first half of the next year. The Company’s marketing expenses decreased by over 50% in the third quarter of 2021, primarily due to lower costs associated with its financings and other transactions. As a result, operating expenses were in line with the previous quarters.