Cachet Financial Solutions, Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of $2,307,000 against $1,030,000 a year ago. The improvement in revenue was driven by an increase in recurring revenue from the company’s RDC products, increase in the number of transactions, and increase in the number of product and product enhancement deployments completed in the quarter. Operating loss was $1,712,000 against $2,172,000 a year ago. Net loss attributable to shareholders was $4,175,000 or $01.46 per basic and diluted share against $7,074 or $3.47 per basic and diluted share a year ago. The decrease in net loss was primarily due to improved operational performance and a decrease in certain non-cash charges. Adjusted EBITDA was $1,250,000 against $1,621,000 a year ago. For the nine months, the company reported revenue of $5,771,000 against $3,037,000 a year ago. Operating loss was $5,927,000 against $7,435,000 a year ago. Net loss attributable to shareholders was $12,545,000 or $4.64 per basic and diluted share against $19,160,000 or $11.65 per basic and diluted share a year ago. Adjusted EBITDA was $4,590,000 against $6,284,000 a year ago.