Eight Solutions Inc. Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2017; Provides Revenue Guidance for 2018
Eight Solutions Inc. reported audited consolidated earnings results for the year ended December 31, 2017. For the period, the company reported revenue of CAD 3,541,627 against CAD 3,456,435 a year ago. The increase was driven by Cumul8 licensing and support revenue, which was up 40% compared to the year ended December 31, 2016. Net loss and comprehensive loss attributable to the shareholders of the company CAD 3,846,104 against CAD 3,096,388 a year ago. Basic loss per share was CAD 0.06 against CAD 0.06 a year ago.
for 2018, the company's goal is to have MRR equating to approximately CAD 5 million of annual recurring revenue by the end of the year.