GuestLogix Inc. Announces Consolidated Earnings Results for the Third Quarter Ended September 30, 2015; Provides Revenue Guidance for the Fourth Quarter Ending December 31, 2015 and Financial Guidance for the Fiscal Year Ending December 31, 2016
November 12, 2015 at 06:09 pm EST
GuestLogix Inc. announced consolidated earnings results for the third quarter ended September 30, 2015. For the quarter, the company reported revenue of $11 million, compared to $9.4 million reported a year ago. Adjusted LBITDA was $3.5 million compared to adjusted EBITDA of $0.8 million reported a year ago. Net loss was $5.3 million or $0.04 per share compared to a net loss of $0.3 million or $0.00 per share reported a year ago. The decline in revenue quarter over quarter was specifically attributed to seasonality of professional services and initial deployment revenues which have a historic softening in summer months. The company had operating cash used of $2.4 million and investing activities of $1.1 million.
For the fourth quarter ending December 31, 2015, the company expects revenue to be at least $5.2 million from the OpenJaw division and $6.0 million from the GuestLogix Onboard division for a total revenue of $11.2 million.
For the fiscal year ending December 31, 2016, the company expects revenue to be at least $54.0 million with operating expenses expected to be $21.8 million.