Sign in

You're signed outSign in or to get full access.

VV

Vinco Ventures, Inc. (BBIG)·Q4 2021 Earnings Summary

Executive Summary

  • Q4 2021 revenue was $2.23M, down 1.5% year over year, as PPE sales fell and were offset by packaging, Honey Badger, and NFT revenues .
  • Reported Q4 net income was $71.7M, driven primarily by a decrease in the fair value of warrant liabilities that produced $142.0M of net other income; absent warrant effects, profitability remains challenged given elevated SG&A .
  • Cash, cash equivalents and restricted cash totaled $187.6M at year-end 2021, providing meaningful liquidity for growth and integrations .
  • Strategic catalysts include the AdRizer acquisition to monetize Lomotif via digital advertising and the planned spin-off of Cryptyde; Lomotif engagement spiked with top-50 app downloads and multi-million user streams during live events .

What Went Well and What Went Wrong

What Went Well

  • Live event streaming accelerated platform engagement: Okeechobee (Mar 2022) drove 7.2M active users, 16M site visitors, and “top 50” U.S. app rankings; 86% of traffic sourced via YouTube promotions on AdRizer, validating cross-platform distribution and ad stack leverage .
  • EDC Las Vegas (Oct 2021) content and surprise performances (Lil Nas X, Kid LAROI) yielded “hundreds of millions of views” across TikTok, Instagram, YouTube, Snapchat, elevating Lomotif’s brand footprint .
  • Management emphasized a clear four-pillar strategy (entertain, engage, endorse, enrich) and highlighted a strong market-cap and equity base lift versus prior year, underpinning capital access for execution (“market cap increased to over $507M” and equity to $134M) .

What Went Wrong

  • SG&A surged in Q4 to $35.2M, with $26.6M of stock-based compensation (75.4% of SG&A); core SG&A excluding stock comp was still $8.7M vs. $1.9M in Q4 2020 as the business transitioned to digital media .
  • Q4 revenue fell 1.5% year over year to $2.23M, reflecting the decline in PPE demand; platform monetization is early and revenue remains small relative to operating costs .
  • Reported profitability is highly sensitive to warrant accounting; Q4 net income was largely a non-cash benefit from fair value changes, complicating assessment of underlying operating performance .

Financial Results

Quarterly snapshot (oldest → newest)

MetricQ4 2020Q2 2021Q3 2021Q4 2021
Revenue ($USD Millions)$2.33 $2.69 $2.23 $2.23
Net Income (Loss) ($USD Millions)$3.80 $(183.67) $(542.46) $71.70
SG&A ($USD Millions)$1.90 $5.94 $25.87 $35.20 (incl. $26.6 stock comp)
Cash, Cash Eq. & Restricted Cash ($USD Millions)~$0.25 $74.76 $149.94 $187.60
Basic EPS ($USD)—$(5.13) $(7.59) — (not disclosed)

Notes: Q4 EPS was not disclosed in the press release/8-K; Q3 and Q2 EPS shown above from 10-Q filings .

Full-year snapshot

MetricFY 2020FY 2021
Revenues ($USD Millions)$12.02 $9.79
Gross Profit ($USD Millions)$2.45 $2.48
Net Loss ($USD Millions)$(5.15) $(713.18)
Net Loss per Share (Basic) ($USD)$(0.49) $(11.24)
Total Stockholders’ Equity ($USD Millions)$13.52 $133.68

Disaggregated revenue (trend view)

Revenue TypeQ2 2021Q3 2021
Product Sales ($USD)$2.63M $1.12M
Media Platform Sales ($USD)—$1.04M
Licensing ($USD)$0.07M $0.07M
Service ($USD)—$0.00M

Note: The company does not present formal segments; this is disaggregated revenue from 10-Qs . Q4 2021 disaggregation was not provided.

KPIs and platform activity (Q4 context and subsequent event)

KPIValue
Okeechobee live stream (Mar 2022): Active users7.2M
Okeechobee Lomotif media site visitors16M
U.S. App Store ranking during festivalTop 50 downloaded social apps
Traffic source via AdRizer for Okeechobee86% from YouTube
EDC Las Vegas content reach“Hundreds of millions” of views across social platforms

Guidance Changes

MetricPeriodPrevious GuidanceCurrent GuidanceChange
Revenue / Margins / OpEx2022+Not providedNot providedn/a
Cryptyde Spin-off2022In processManagement anticipates completion in early 2022 (per Q3 10-Q update) Maintained trajectory
AdRizer Integration2022LOI/Q4 commentaryAcquisition completed (Feb 2022); integration expected to impact Q1 2022 and beyond Implementation underway

Note: The company did not issue numeric revenue/margin/OpEx guidance in the Q4 release/call .

Earnings Call Themes & Trends

TopicPrevious Mentions (Q3 2021)Current Period (Q4 2021)Trend
Monetization via AdTech (AdRizer)Planned acquisition to monetize Lomotif’s awareness; ad stack runs programmatic transactions Acquisition finalized; integration expected to enable meaningful monetization starting Q1 2022 Progressing from plan to integration
Lomotif engagement & eventsLaunch of Lomotif India; EDC Las Vegas activation and cross-platform reach Okeechobee stream validated blended media strategy; top-50 U.S. app ranking during event Scaling engagement and brand
Capital/warrantsLarge warrant liability; major impact on quarterly losses Other income of $142M in Q4 from warrant liability changes; continued sensitivity to share price Non-cash volatility persists
Cryptyde spin-offPreliminary Form 10 filed; expected early 2022 distribution Further progress and articulation of Cryptyde initiatives (E-NFT, CW Machines) Advancing toward separation
Operating cost baseSG&A ramped with transition to media; Q3 SG&A $25.9M Q4 SG&A $35.2M (stock comp-heavy); otherwise ~$8.7M core SG&A Elevated cost base

Management Commentary

  • Strategic pillars: “We’re focused on our four pillars, to entertain, engage, endorse and enrich… We believe we can continue to grow into a robust international media and entertainment company focused on content and engagement” .
  • AdRizer integration: “AdRizer… is one of the foundations of our strategy… expected to enable us to monetize Lomotif… in a meaningful way starting Q1 2022 and beyond” .
  • Warrant effects: “Similar to previous quarter, the biggest impact to Q4 and full year is the accounting treatment of warrants… warrant liability is a non-cash liability that will change as share price fluctuates” .
  • Platform traction: “Lomotif for the first time broke into the top 50 downloaded social apps in the U.S. during the festival… 86% of the traffic came from YouTube through AdRizer” .

Q&A Highlights

  • Monetization timing: CFO emphasized that AdRizer will begin contributing in Q1 2022 and beyond, clarifying near-term revenue expectations tied to ad stack integration .
  • Accounting sensitivity: Management reiterated how warrant liabilities drive non-cash volatility and can overshadow core operations in GAAP results .
  • Operating cost structure: CFO noted ~$8.6M core expense in Q4 excluding stock-based comp, covering 46 Vinco and 64 Lomotif employees plus legal and marketing event costs .

Estimates Context

  • Wall Street consensus estimates via S&P Global were unavailable for BBIG (mapping error prevented retrieval), so a comparison to consensus EPS/revenue cannot be provided at this time. As a result, no beat/miss analysis versus Street is included here.

Key Takeaways for Investors

  • Reported Q4 net income reflects a large non-cash benefit from warrant liability revaluation; underlying operating performance remains loss-making and sensitive to stock price volatility .
  • Liquidity is strong ($187.6M cash/restricted cash), enabling investment in platform scale and the AdRizer integration to monetize traffic .
  • Engagement catalysts (EDC, Okeechobee) validate the blended media strategy and AdRizer’s ability to drive traffic and impressions; the key is translating engagement into sustained ad revenue .
  • SG&A (and stock comp) are elevated during the transition; investors should monitor the trajectory of core SG&A (~$8.7M in Q4 excluding stock comp) versus emerging ad-driven revenues .
  • The Cryptyde spin-off remains a potential structural catalyst to unlock value and focus Vinco on media/ad monetization while Cryptyde executes its blockchain strategy .
  • Near-term trading may be influenced by event-driven engagement updates, AdRizer revenue contributions in Q1/Q2 2022, and additional disclosures on spin-off timing .