Alpine 4 Holdings, Inc. (NASDAQ:ALPP) announced today its 2021 results and highlights.
Consolidated revenues were $51.6 million, up 54.3% over 2020 with organic growth of 6.4% By the end of 2021, the Company had proforma revenue for 2022 in excess of $100 million. There was a total revenue backlog of $36.6 million as of the end of 2021.
R&D expenditures came in at $1.5 million. Cash $3.7 million up from $278 thousand in 2020. Capital expenditures were $3.6 million
Said CEO Kent Wilson, “With our business momentum growing and opportunities expanding at a rapid pace in 2022, we can look back at the foundation and infrastructure we created in 2021 as the inflection point where we will be able to support our growth for the next decade and beyond.
“In 2021, we raised $77 million in cash, increased working capital by $20.2 million, reduced $19.1 of funded liabilities, invested $1.5 million in our R&D, increased our inventory by $23.3 million, and spent $37.3 million in cash towards six very purposeful subsidiaries that will be the backbone of our revenue over the next decade.”
ALPP shares began Thursday down a penny, or 1%, to $1.01.