SITO Mobile, Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 14, 2017 at 09:05 pm
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SITO Mobile, Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported total revenue of $11,071,921 compared to $8,551,295 a year ago. Loss from operations was $2,112,298 compared to income from operations of $410,559 a year ago. Net loss from continuing operations was $2,667,586 or $0.12 per basic share compared to $26,223 a year ago. Net loss before income taxes was $2,667,586 compared to $26,223 a year ago. Net loss was $2,664,798 compared to net income of $501,500 a year ago. Basic loss per share was $0.12 compared to basic and diluted earnings per share of $0.03 a year ago. LBITDA was $1,169,613 compared to EBITDA of $741,704 a year ago. Adjusted EBITDA was $296,324 compared to $1,116,238 a year ago. The increase in total revenue was primarily driven by an increase in the number of campaigns and average campaign size as the company continues to expand its direct sales force and increase its customer base.
For the nine months, the company reported total revenue of $28,521,003 compared to $21,972,040 a year ago. Loss from operations was $7,598,300 compared to $381,862 a year ago. Net loss before income taxes was $8,897,349 compared to $1,703,535 a year ago. Net loss from continuing operations was $8,897,349 or $0.42 per basic share compared to $1,703,535 or $0.09 per diluted share a year ago. Net loss was $9,210,193 or $0.44 per basic share compared to net income of $56,059 a year ago. LBITDA was $5,934,834 compared to EBITDA of $539,757 a year ago. Adjusted LBITDA was $1,460,396 compared to adjusted EBITDA of $1,470,954 a year ago. The increase in total revenue was driven primarily by an increase in the number of campaigns and average campaign size as the company continues to expand its direct sales force and increase its customer base. The decline in net income was primarily due to the $2.1 million increase in gross profit offset by a $2.8 million increase in general and administrative costs excluding certain non-recurring expenses, a $2.9 million increase in sales and marketing expense, and a $3.7 million increase in non-recurring general and administrative costs. Cash used in operations for the nine months ended September 30, 2017 was $4.3 million compared to $570,000 for the corresponding period of 2016.
SITO Mobile, Ltd. develops customized, data-driven solutions for brands spanning strategic insights and media. The Company's platform reveals an understanding of customer interests, actions and experiences providing clarity for clients when it comes to navigating business decisions. Using in-store targeting, proximity targeting, geo-conquesting and attribution data, the platform creates audience profiles to develop measurable targeted campaigns for brands. Its real-time, location-based technology gives clients the advantage of understanding the future of retail and consumer behavior. Its solutions include research, which provides data-driven problem solving; execution, which provides personalized, location-based advertising; measurement, which offers closed-loop attribution solutions; and insights, which provides decision-making solutions for businesses.