RKFL PRE-ANNOUNCES FQ3 REVENUE

Investor Webinar scheduled for Thursday February 15 at 1:30 PM ET

San Francisco, CA, Feb. 07, 2024 (GLOBE NEWSWIRE) — RocketFuel Blockchain, Inc. (OTC: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH bank transfers, Bitcoin and other cryptocurrencies, provided a pre-announcement of expected revenue for its third fiscal quarter (FQ3) ended December 31, 2023. The company’s growth is marked by significant increases in revenue and the expansion of its customer base.

For FQ3 (October 1, 2023 through December 31, 2023), RocketFuel is pre-announcing anticipated revenue of $646,000, a 24X increase from the $42,000 revenue generated in the same quarter last year.

The substantial growth experienced by RocketFuel can be attributed to the introduction of two new products (mass payouts and blockchain-based gift cards and NFTs), the acquisition of multiple large new customers, as well as the increased adoption of the company’s products by existing customers and partners. This combination has fueled an average revenue growth of 100% quarter over quarter for the past 7 quarters.

For the calendar year 2023, RocketFuel processed 525,000 transactions across approx. 125,000 unique customers.

RocketFuel will hold an investor call on Thursday, February 15, 2024 at 1:30 PM ET to discuss its FQ3 pre-announcement revenue.

“While we are pleased with our continued customer traction and revenue expansion, we also saw some challenges in FQ3” said Peter Jensen, RocketFuel CEO. “Continued regulatory uncertainty and a general slowdown in capital markets have made it harder to raise capital than it was two years ago. As we continue to increase our revenue, we need additional capital to take advantage of the opportunity ahead of us and become cash flow positive. We also had some partner-related issues that prevented our merchants from utilizing our solutions to maximum capacity. Most of these have been addressed, and we’ve recently seen a further increase in volume and revenue for those products.”

“In addition, one of our larger customers have had some challenges on their revenue side which impacted our FQ3., We have a healthy pipeline and we feel good about continuing our pattern of doubling our revenue on average every quarter, driven by new products, customers, and adoption as long as there are no major unexpected challenges.”

Investor Call Details

About RocketFuel:

RocketFuel is a leading provider of payment processing solutions, offering innovative and secure services to businesses of all sizes. With a focus on delivering exceptional customer experiences and driving revenue growth, RocketFuel provides enterprise-class infrastructure and cutting-edge technology to process high volumes of payment transactions. The company has consistently demonstrated robust growth since its inception and continues to expand its customer base with industry-leading solutions. More information about RocketFuel is available at: www.rocketfuel.inc

Forward-Looking Statements Disclaimer:

The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2023 and Quarterly Report on Form 10-Q for the fiscal year ended June 30, 2023. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.

For media inquiries or more information, please contact: press@rocketfuel.inc

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