RKFL REPORTS RECORD QUARTERLY FQ1 REVENUE AND PRE-ANNOUNCES FQ2 REVENUE

GROWTH ACCELERATES TO MORE THAN 3X IN LATEST QUARTER

Investor Webinar scheduled for Thursday Oct 19 at 1:30 PM ET

San Francisco, CA, Oct. 17, 2023 (GLOBE NEWSWIRE) — RocketFuel Blockchain, Inc. (OTCQB: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH bank transfers, Bitcoin and other cryptocurrencies, announced its record-breaking financial performance for its first quarter (FQ1) and provided a pre-announcement of expected revenue for its second quarter (FQ2). The company’s growth is marked by significant increases in revenue and the expansion of its customer base.

In FQ1 (Apr 1 2023 – June 30^th 2023), RocketFuel reported revenue of $235,459, reflecting a growth rate of 127% compared to the previous quarter’s $103,858 revenue. Additionally, this represents a 28X increase from the same quarter last year, which generated $8,132 in revenue.

In FQ2 (July 1^st 2023 – Sept 30th2023), RocketFuel is excited to pre-announce anticipated revenue figures of $765,000, an 225% increase compared to the previous quarter’s $235,459 and a 17X increase from the $41,815 revenue generated in the same quarter last year.

The notable growth experienced by RocketFuel can be attributed to the acquisition of multiple large new customers, as well as the expansion of services provided to existing customers. This combination has fueled consistent revenue growth over the past four quarters: $41,815, $103,858, $235,459, and a preliminary estimate of $765,000 in FQ2.

RocketFuel will hold an investor call on Thursday, October 19th, 2023 at 1:30 PM ET to discuss its record quarterly FQ1 revenue and its FQ2 pre-announcement revenue

“We are thrilled with our record-breaking performance in FQ1 and the continued growth in FQ2,” said Peter Jensen, RocketFuel CEO. “Our ability to consistently more than double our revenue every quarter in our first six quarters of operation is a testament to the strength of our solutions and the trust our customers place in us.”

RocketFuel’s success is further bolstered by its enterprise-class infrastructure, capable of processing more than 273,000 payment transactions in a single quarter. RocketFuel has attracted a customer base that includes five enterprise customers with revenues exceeding $1 billion.

With a current estimated Annual Run Rate (ARR) of $3.5 million, RocketFuel is poised for continued success and expansion in the payment processing industry.

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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