(via TheNewswire)
Record Q1 Revenues and Ebitda*
Financial Highlights of the Company:
The Company experienced financial results in fiscal Q1 2022 as set forth below (all figures in Canadian dollars):
Gross Profit of
$2,223,966 or 20.7% of its revenues in Q1 2022 vs$959,109 or 12.0% in Q1 2021Operating income of
$758,650 for Q1 2022 compared to$32,650 in Q1 2021Net income
$330,613 in Q1 2022 compared to a loss of$3,832,868 in Q1 2021Adjusted EBITDA* of
$1,034,779 for Q1 2022 compared to$306,641 in Q1 2021Total Bookings* of
$11,060,003 in Q1 2022 up 20.9% as compared to$9,150,792 in Q1 2021.3-month net cash provided by operations
$990,903 vs$1,477,566 in the year ago period.Total deferred revenues of
$24,481,819 as atMarch 31 2022 vs$24,181,640 atMarch 31 2021 .
President, CEO and Director
(604) 644-0072
www.brisio.com
pr@namesilo.com
www.namesilo.com
About
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements.
*Non-IFRS Financial Measure
Readers are cautioned that “Adjusted EBITDA” and “total bookings” are measures not recognized under IFRS.Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, restructuring costs, impairment charges and other non-recurring gains or losses. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Total bookings includes the full amount of cash received fromnew domain bookings, renewals and other related services. Whereas, under IFRS, the Company records revenue from domain booking and renewal fees on a straight-line basis over the life of the contract term. However, the Company’s management believes that “total bookings” provides investors with insight into management’s decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, “total bookings” also provides useful insight into the Company’s operating performance on a yearly basis. “Total bookings” do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that “Adjusted EBITDA” and “total bookings” are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.
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