SITO Mobile, Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 20, 2018 at 04:23 pm EDT
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SITO Mobile Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total revenue of $8,428,564 compared to $10,754,765 a year ago. This decrease in total revenue was primarily due to a decrease in the average spend per customer in addition to a decrease in lower margin TV revenue spend. Loss from operations was $6,081,577 compared to $2,816,129 a year ago. The increase in loss from operations was primarily due to a $1.8 million increase in sales and marketing expenses related to the implementation of the Company’s 2017 stock incentive plan, expansion of the Company’s direct sales force and customer management personnel, and increased marketing efforts. Net loss before income taxes was $5,713,803 compared to $1,795,735 a year ago. Net loss from continuing operations was $5,735,862 compared to $1,795,735 a year ago. Net loss was $5,735,862 compared to $2,162,743 a year ago. Basic and diluted net loss per share was $0.23 compared to $0.10 a year ago. EBITDA was $5,336,496 compared to $1,097,056 a year ago. Adjusted LBITDA was $3,641,155 compared to adjusted LBITDA of $983,593 a year ago.
For the six months, the company reported total revenue of $19,573,216 compared to $17,307,519 a year ago. Loss from operations was $12,029,192 compared to $5,627,571 a year ago. Net loss before income taxes was $10,930,149 compared to $4,906,578 a year ago. Net loss from continuing operations was $10,983,593 compared to $4,906,578 a year ago. Net loss was $10,983,593 compared to $5,222,210 a year ago. Basic and diluted net loss per share was $0.45 compared to $0.25 a year ago. LBITDA was $10,163,505 compared to $3,235,333 a year ago. Adjusted LBITDA was $6,895,114 compared to adjusted LBITDA of $84,273 a year ago.
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.