Year-over-year revenue growth of 24% and gross margin
improves from 36% to 48%
MONTREAL, May 30, 2018 /CNW/ -- Engagement Labs Inc. (TSXV:
EL) (OTCQB: ELBSF) released results for its first quarter
ended March 31, 2018. The results are
in line with the preliminary Q1 results released by the Company on
April 27, 2018. Condensed interim
consolidated Financial Statements and Management Report are
available on SEDAR's website at www.sedar.com.
First Quarter Financial Highlights
- Revenue of $998,536 for Q1 2018
represents a 24% increase vs Q1 2017 ($805,820).
- Gross margin increased to 48% in Q1 2018, from 36% in Q1
2017.
- Operating expenses before extraordinary items increased 28% or
$364,111 vs Q1 2017. The increase
reflects management's commitment to invest in sales and marketing
to drive TotalSocial® technology sales growth, including the hiring
of a Chief Revenue Officer in late December.
- Non-GAAP Adjusted EBITDA loss of -$925,769 for Q1 2018, representing an improvement
of $123,438 compared to -$1,049,207 for Q4 2017, and a decrease of
$200,637 compared to -$725,132 for Q1 2017.
- Basic and diluted loss per share was ($0.01) for Q1 2018 compared to ($0.02) for Q1 2017.
- As at March 31, 2018, the Company
had cash (excluding restricted cash) of $1,456,421, compared to $2,677,049 as of December
31, 2017.
"Revenue growth is a key priority for Engagement Labs in 2018,
and we began investing in Q4 to drive sales, including the hiring
of a Chief Revenue Officer to build out our sales organization,"
said Ed Keller, CEO of Engagement
Labs. "I am therefore pleased to report the 24% revenue growth
year-over-year, which I see as clear evidence that our TotalSocial
product is gaining acceptance in the marketplace. Further,
our clients span nine different vertical sectors, demonstrating its
broad appeal."
Recently, Engagement Labs released an update on the performance
of TotalSocial in the 18 months since its launch, including the
fact that over CDN $7.3M in
TotalSocial contracts have been signed with a diverse group of
Fortune 500 companies and brands in nine sectors.
About Engagement Labs
Engagement Labs (TSXV: EL)
(OTCQB: ELBSF) is an industry-leading data and analytics firm
that focuses on the entire social ecosystem and its impact on
business. The Company's TotalSocial® platform is the
only platform that combines powerful online (social media) and
offline (word of mouth) data with predictive analytics. Engagement
Labs has a proprietary ten-year database of unique brand, industry
and competitive intelligence. The Company's cutting-edge predictive
analytics uses machine learning and artificial intelligence to
reveal the social metrics that increases marketing ROI and top line
revenue for its diverse group of clients, consisting of Fortune 500
companies.
To learn more
visit www.engagementlabs.com / www.totalsocial.com.
About TotalSocial®
TotalSocial®
is a premier data and analytics platform that provides brands with
unique insights, improved marketing ROI and strategies to grow
revenue. Fueled by actionable online and offline data, TotalSocial
is the only platform that encompasses and listens to the entire
social ecosystem. TotalSocial offers unique, proprietary data about
brands, its industry and competitors. With cutting-edge
diagnostics, patent-pending predictive analytics and machine
learning, TotalSocial identifies business opportunities and
provides recommendations and a roadmap to grow revenue and achieve
business and marketing goals.
Disclaimer in regard to Forward-looking
Statements
Certain statements included herein constitute
"forward-looking statements" within the meaning of applicable
securities laws. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable by management at this time, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Investors are cautioned not to put undue reliance on
forward-looking statements. Except as required by law, Engagement
Labs does not intend, and undertakes no obligation, to update any
forward-looking statements to reflect, in particular, new
information or future events.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For media inquiries please contact:
KCSA Strategic Communications,
ktumino@kcsa.com / asingh@kcsa.com
212-896-1252 / 212-896-1207
Ed Keller, CEO, Engagement Labs,
Ed.keller@engagementlabs.com, 732.846.6800
SOURCE Engagement Labs