Highlights
- In
February 2020 , the Company completed the acquisition of Immersolution, a reseller of 3D photography equipment; - For 2020, the Company generated a gross merchant volume (‘GMV’) of
$ 9,776k compared to$9 463k in 2019, a 3% increase; - For 2020, the Company generated revenues of
$4,594k compared to$4,454k for 2019, a year-over-year increase of$140k or 3.1%. While adjusting for comparison purposes 2019 revenues to reflect the change in billing method forUrbanimmersive inMarch 2019 , 2019 adjusted revenues total$3,569k , an annual increase of$1,025k or 28.7%; - For 2020, the Company generated a gross margin (before amortization) of
$3,146k (68.5%) compared to$3,378k (75.8%) for 2019, a decrease of$232k (-6.9%) or 7.3 points; - For 2020, EBITDA totaled
$1,050k compared to$713k for 2019, an improvement of$337k ; - For 2020, operating activities generated cash flows of
$989k compared to$464k for 2019, an improvement of$525k ; - As of
September 30, 2020 , cash totaled$885k with unused lines of credit of$274k for liquidities totaling$1,159k and working capital totaling+$602k (excluding short-term portion of the long-term debt and non-cash items payable in shares);
- In 2020, the Company launched many new innovative products, including its 3D Pocket Website™ (February), its immersive 3D tours and floor plans services (September) and its automatic photo edition (HDR) services.
- In
November 2020 , the Company opened a new subsidiary inMexico and also signed a distribution agreement for the territories ofIndonesia andAustralia ;
- In
November 2020 , the Corporation issued 11.4M shares as a result of the conversion of convertible debentures of a nominal value of$1.425M at a conversion price of$0.125 ;
Selected consolidated financial information
Three-month period ended | Three-month period ended | Year ended | Year ended | |
In thousands $ | In thousands $ | In thousands $ | In thousands $ | |
Gross Merchant Volume (GMV) * | 3,350 | 2,577 | 9,776 | 9,463 |
Revenues** | 1,441 | 864 | 4,594 | 4,454 |
COGS and direct charges | 507 | 48 | 1,449 | 1,076 |
Gross margin ** (before amortization) | 933 | 810 | 3,146 | 3,378 |
Amortization | 144 | 132 | 564 | 494 |
Operating expenses | 328 | 363 | 2,096 | 2,666 |
EBITDA | 605 | 453 | 1,050 | 713 |
Other expenses (revenues) | 263 | 51 | 871 | (1,313) |
Current and deferred income taxes (recovered) | - | (481) | 4 | (481) |
Net income (loss) | 182 | 836 | (413) | 2,114 |
Basic net income (loss) per share | 0.00 | 0.01 | (0.01) | 0.03 |
* GMV represents the value of all transactions performed by merchants using Urbanimmersive’s business solutions for invoicing and/or collecting payments for their services
** Change from gross to net billing method for merchants in
Achievements
“Despite a particularly difficult economic context, 2020 was for
Options grant and shares issuance
The Company also announces that 1,750,000 share purchase options have been granted to employees, consultants, management and members of the Board of directors pursuant to the terms of its share option plan (the “Plan”). These options are exercisable at
Investor Conference Call
UI will be hosting a conference call to discuss those financial results and answer questions at
About
Caution of Forward-Looking Statements
Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management estimates or opinions change.
For more information, please contact:
President & CEO
514-394-7820 X 202
ghislainlemire@urbanimmersive.com
Simon Bédard, CA, CPA, CFA, MBA
Chief Financial Officer
514 394-7820 X 224
simonbedard@urbanimmersive.com
Source:
2021 GlobeNewswire, Inc., source