The OLB (NASDAQ:OLB) rallies 25.9% higher premarket after its merchant services annual transaction volume run rate touched $1.35B in transaction value led by 28.5M transactions. Post acquisition of CBD merchant accounts in last quarter (Dec.1), OLB commenced the year with highest revenue run rate in its history; since CBD acquisition, company has benefited from onboarding ~150 new merchant accounts per month. It’s eCommerce merchant services business is tracking at an anticipated annual revenue run rate exceeding $36M for 2022. “In 2021, we began the year with an annualize revenue run rate of ~$10M. Starting this year at a $36M annualized revenue run rate is likely to maximize our economies of scale and contribute to our bottom line,” president & CEO Ronny Yakov commented. CBD merchant portfolio is expected to add $25M to the company revenue and is seen contributing up to $5M in incremental EBITDA.
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OLB reports $1.35B in transaction value post CBD Merchants acquisition