Telenav, Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended December 31, 2016; Provides Earnings Guidance for the Third Quarter Ending March 31, 2017
For the six months period, the company reported total revenue of $94,228,000, loss from operations of $21,626,000, loss before provision for income taxes of $20,616,000, net loss of $20,758,000 or $0.48 per basic and diluted share, net cash used in operating activities of $2,899,000, purchases of property and equipment of $531,000 compared to the total revenue of $89,314,000, loss from operations of $17,378,000, loss before provision for income taxes of $17,045,000, net loss of $17,485,000 or $0.43 per basic and diluted share, net cash used in operating activities of $6,662,000, purchases of property and equipment of $332,000 a year ago. Adjusted EBITDA was $9,413,000 compared to $10,534,000 a year ago. Non-GAAP net loss was $20,758,000 compared to $17,485,000 a year ago.
For the quarter ending March 31, 2017, total revenue is expected to be $37 to $39 million, gross margin is expected to be approximately 48%, non-GAAP gross margin on billings is expected to be approximately 39%, net loss is expected to be $12 to $13 million, net loss per share is expected to be $0.28 to $0.30, and adjusted EBITDA is expected to be a $9.0 to $10.0 million loss. Adjusted EBITDA on billings loss is expected to be between $3.5 million and $4.5 million.