SITO Mobile, Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017
March 21, 2018 at 04:41 pm
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SITO Mobile, Ltd. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total revenue of $14,696,065 compared to $7,454,915 a year ago. Loss from operations was $6,932,104 compared to $1,049,835 a year ago. Net loss before income taxes was $6,929,491 compared to $1,466,393 a year ago. Net loss from continuing operations was $6,848,969 or $0.31 per basic and diluted share compared to $1,580,671 or $0.08 per basic and diluted share a year ago. Net loss was $6,904,982 or $0.31 per basic and diluted share compared to $1,460,045 or $0.07 per basic and diluted share a year ago. LBITDA was $6,407,183 compared to $933,481 a year ago. Adjusted LBITDA was $38,736 compared to $531,732 a year ago. This increase was primarily driven by an increase in the number of campaigns as the Company continues to expand its direct sales force and increase its customer base.
For the year, the company reported total revenue of $43,105,184 compared to $29,426,955 a year ago. This increase was driven primarily by an increase in the number of campaigns as the company continues to expand its direct sales force and increase its customer base. Loss from operations was $14,326,357 compared to $1,431,697 a year ago. Net loss before income taxes was $14,272,793 compared to $3,169,928 a year ago. Net loss from continuing operations was $14,192,271 or $0.67 per basic and diluted share compared to $3,284,206 or $0.18 per basic and diluted share a year ago. Net loss was $14,561,128 or $0.69 per basic and diluted share compared to $1,403,986 or $0.08 per basic and diluted share a year ago. LBITDA was $10,787,970 compared to $393,725 a year ago. Adjusted LBITDA was $133,793 compared to adjusted EBITDA of $939,221 a year ago. Cash used in operations for the twelve months ended December 31, 2017 was $3.1 million compared to $889,000 for 2016. The decline in net income was primarily due to a $6.8 million increase in general and administrative costs excluding $6.7 million of certain non-recurring expenses primarily related to litigation and other legal matters, a $4.1 million increase in sales and marketing expense related to expansion of the direct sales force and customer management personnel, which trends in line with the increase in media placement revenue, and a $2.2 million increase in the loss from discontinued operations, which was partially offset by an increase in gross profit of $5.1 million.
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.