The world is at the dawn of a monumental technological shift with blockchain technology, RocketFuel Blockchain Inc (OTCQB:RKFL) CEO Peter Jensen told Proactive following the company’s release of its most recent revenue figures.
"The payment industry, as a whole, is undeniably substantial,” Jensen said in an interview with Proactive’s Steve Darling. “We're in the initial phases of this transformative journey.”
The company reported 127% quarter-over-quarter increase in revenue, soaring to an impressive $235,459.
RocketFuel’s impressive growth isn't just a flash in the pan: the company has consistently achieved more than a 100% increase in revenue each quarter for the past six quarters.
Jensen attributes this surge in revenue to two primary factors: the acquisition of multiple new, large customers and the expansion of services offered to existing customers.
"We currently serve five significant enterprise customers, each with annual revenues exceeding $1 billion. While we also cater to numerous smaller clients, these five major clients are a pivotal driver of our growth,” Jensen explained.
Part of this growth can be attributed to RocketFuel’s expanding product portfolio. Just a year ago, it had a single product, equating to one revenue stream. Today, the company has a diverse lineup of four products: a 'pay ins' solution, 'pay out' product, 'b2b' offering, and 'gift card' solution. The expanded range not only allows it to upsell to existing clientele but also allows it to tap into new customer segments.
“It's an exciting development,” Jensen said.
The CEO isn't content to rest on its laurels, as RocketFuel also pre-announced anticipated revenue of $765,000 for the second quarter, signifying a 225% sequential increase. With a current estimated Annual Run Rate (ARR) of $3.5 million, RocketFuel also has attracted a diverse customer base.
The company is transitioning from traditional practices to a novel, markedly more efficient, cost-effective, and secure approach.
“Our track record speaks volumes: we've consistently achieved more than a 100% growth rate for six consecutive quarters,” Jensen said. “I firmly believe this growth trend will persist…the numbers speak for themselves.”