RDE, Inc. (OTCQB: RSTN) has been on the rise over the past 6 months from under $0.50 in July of last year to recent highs over $3 per share. The move up comes after the Company uplisted to the otcqb and became an SEC filer.
The Company has been busy reporting earlier this week enhancements to its website Restaurant.com enabling a better experience for mobile users. Restaurant.com is always looking for ways to make it easier, more efficient and powerful for its consumers to access digital deals for its nationwide options of dining, retail and entertainment at over 184,000 restaurants and retailers.
RDE, Inc. (OTCQB: RSTN) is a pioneer in the restaurant deal space and the nation’s largest restaurant-focused digital deals brand. Founded in 1999, Restaurant.com, Specials by Restaurant.com and our Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail and entertainment deal options nationwide at over 184,000 restaurants and retailers. Restaurant.com prides itself on offering the best deal, every meal. Our restaurant certificates and gift cards allow customers to save at thousands of restaurants across the country with just a few clicks.
The Company reported Financial Results for Three Months Ended September 30, 2022. Revenue for the three months ended September 30, 2022 decreased by 3% to $0.8 million, compared to $0.8 million for the three months ended September 30, 2021. This decrease was from B2C, as B2B performed well with current and new clients. Gross profit for the three months ended September 30, 2022 increased by 4% to $0.8 million, compared to $0.8 million for the three months ended September 30, 2021. The resulting gross margin for the three months ended September 30, 2022 was 95.3%, compared to 89.5% for the three months ended September 30, 2021.
RSTN joined the OTCQB last year reporting at the time it is now a fully compliant SEC reporting company. Ketan Thakker, Chief Executive Officer of RDE, Inc., commented, “Our entire team, from our Board of Directors and Executive Management team to our employees, is extremely proud of reaching this major milestone in our development. We have now fulfilled a commitment we made to our shareholders and put ourselves firmly on the path towards greater access to capital markets. We believe this step should assist in enabling us to fulfill our business objectives going forward. We are excited about our recent business progress with the signing of additional partnerships that are expected to increase visibility and awareness and accelerate revenue growth. These include Blackhawk Network, Fresh Vine Wine and Takeout7. Restaurant.com is a pioneer in the restaurant deal space and the nation’s largest restaurant-focused digital deals brand.”
Earlier this year RSTN celebrated their 10 years of working together and the 10th year of Restaurant.com’s Night Out. Together, Restaurant.com and Intelliments, are seeing positive trends in growth and consumer experience for their entertainment packages in regard to both savings and day of live entertainment and dining. In 2022, Restaurant.com saw a 66.5% increase in sales for live show offers compared to the prior year. More live shows are available, and consumers are excited to go out to dine at restaurants in combination with going to a show, concert or sporting event. Consumers are turning to experiences more than material items to be more present and personal in their everyday life.
Entelliment, LLC CEO & Founder, Jason Sheets stated, “Over the past 10 years, this partnership has been a staple for stimulating new demand for live events, restaurants and getting people out. Shows and events have benefitted from Restaurant.com’s loyal consumers who are looking for something new to do and experience. Whether it’s a Broadway show, NBA game or hit concert, consumers are getting a full night out.”
On February 16 the Company reported enhancements to its website Restaurant.com enabling a better experience for mobile users. Restaurant.com is always looking for ways to make it easier, more efficient and powerful for its consumers to access digital deals for its nationwide options of dining, retail and entertainment at over 184,000 restaurants and retailers. The website redesign improved the layout and search capabilities for the mobile environment and focused on streamlining the customer journey to enhance the mobile experience. Restaurant.com will continue to focus on mobile improvements throughout 2023.
Ketan Thakker, Chief Executive Officer of RDE, Inc., commented, “With the latest mobile deployment we wanted to showcase our brand strategy and improve our customer experience. While more aesthetically pleasing, the site is also easier to navigate for those accessing it via a mobile device, which we all know is more and more becoming the norm. I’m very proud of what the team has accomplished, and we can’t wait to continue to work towards additional enhancements.”