Digiliti Money, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017
Digiliti Money, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenue of $2.518 million against $1.460 million a year ago. Operating loss was $2.155 million against $2.110 million a year ago. Net loss attributable to common shareholders was $2.829 million against $4.929 million a year ago. Net loss per common share-basic and fully diluted was $0.83 against $3.01 a year ago. The improvement in net loss attributable to common shareholders was primarily due to improved operational performance and a decrease in certain non-cash charges. Revenue in the first quarter of 2017 increased 73% from the first quarter of 2016. The improvement was driven primarily by an increase in professional services, and to a lesser extent, by an increase in recurring revenue from the company’s RDC and Select Mobile Money solutions as a result of increased deployments, product enhancements, and transactions. Adjusted LBITDA (a non-GAAP term defined as net loss before interest, taxes, depreciation, amortization, stock-based compensation, and non-recurring items) for the first quarter of 2017 totaled $1.760 million, compared to an adjusted LBITDA of $1.613 million in the same year-ago period.