Pioneering Technology Corp. announced unaudited earnings results for the third quarter and nine months ended June 30, 2018. For the quarter, the company reported revenue of $844,706 compared to $2,567,510 a year ago. Total comprehensive loss was $929,614 or $0.02 per share compared to income of $1,163,675 or $0.03 per share a year ago. Adjusted LBITDA was $765,666 compared to adjusted EBITDA of $374,513 a year ago.

For the nine months, the company reported revenue of $3,968,863 compared to $7,204,028 a year ago. Total comprehensive loss was $1,302,680 or $0.03 per share compared to income of $57,435 a year ago. Adjusted LBITDA was $1,389,529 compared to adjusted EBITDA of $1,709,754 a year ago.

The company has been experiencing revenue declines and no longer expects that 2018 revenue will exceed 2017 revenue.