Adaptive Medias, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported revenue of $702,892 against $1,382,139 a year ago. Loss from operations was $2,038,007 against $3,604,557 a year ago. Net income was $2,518,837 or $0.10 per diluted share against net loss of $3,613,386 or $0.32 per diluted share a year ago. In the third quarter, adjusted EBITDA (excluding stock compensation expense and one-time adjustments) came in at $0.03 million compared with loss of $1.7 million in the second quarter of 2015. The improvement reflects lower expenses across the board, including sales and marketing, R&D expense, general and administrative and professional and legal costs.

For the nine months, the company reported revenue of $2,968,438 against $3,226,927 a year ago. Loss from operations was $12,544,449 against $6,704,987 a year ago. Net loss was $8,072,226 or $0.50 per diluted share against net loss of $6,752,704 or $0.89 per diluted share a year ago.