UpSNAP Inc. Announces Audited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
UpSNAP Inc. announced audited earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported loss from operations decreased 49% to $0.33 million, compared to $0.65 million in fourth quarter of 2014. Recurring revenue was 42% of total revenue, compared to 18% in fourth quarter of 2014. Total operating revenue was $1.24 million compared to $1.26 million in the fourth quarter of 2014. Mobile advertising revenue remained steady at $1.0 million. Net loss of $0.23 million, compared to $1.52 million in fourth quarter of 2014, a decrease in loss of 85%. Basic and diluted loss per share of $0.01, in line with the fourth quarter of 2014.
For the year, the company reported that total operating revenue grew by 28% to $5.07 million, compared to $3.96 million in fiscal year of 2014. Mobile advertising revenue grew by 40% to $4.18 million, compared to $2.99 million in fiscal year of 2014. Net loss for the year decreased 74% to $1.07 million, compared to $4.12 million in fiscal year of 2014. Basic and diluted loss per share of $0.01, compared to loss per share of $0.03 in fiscal year of 2014.