MONTREAL, Aug. 24, 2018 /CNW/ -- Engagement Labs Inc.
(TSXV: EL) (OTCQB: ELBSF) released results for its second quarter
ended June 30, 2018. Condensed
interim consolidated Financial Statements and Management Report are
available on SEDAR's website at www.sedar.com.
Second Quarter Financial Highlights
- Revenue of $952,670 for Q2 2018
represents a 20% increase vs Q2 2017 ($795,441) and revenue of $1,951,206 for H1 2018 represents a 22% increase
vs H1 2017 ($1,601,261).
- Gross margins year to date it increased to 44% in H1 2018 from
39% in H1 2017. In Q2, an increase in amortization of
TotalSocial led to a decrease to 39% in Q2 2018, from 42% in Q2
2017
- Operating expenses increased 29% or $358,641 vs Q2 2017, and it increased 28% or
$722,752 from H1 2017. The increase
from 2017 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.
- Net loss before income taxes increased 21% or $254,147, from -$1,189,675 for Q2 2017 to -$1,443,822 for Q2 2018, and it increased 17% or
$409,788 from -$2,458,247 for H1 2017 to -$2,868,035 for H1 2018.
- Non-GAAP Adjusted EBITDA loss of -$819,886 for Q2 2018, representing a decrease of
$294,908 compared to -$524,978 for Q2 2017 and Non-GAAP Adjusted EBITDA
loss of -$1,745,655 for H1 2018,
representing a decrease of $495,545
compared to $1,250,110 for H1
2018.
- Basic and diluted loss per share was ($0.01) for Q2 2018 compared to ($0.02) for Q2 2017 and ($0.02) for H1 2018 compared to ($0.03) for H1 2017.
- As at June 30, 2018, the Company
had cash (excluding restricted cash) of $613,771, compared to $2,677,049 as of December
31, 2017.
"Revenue growth and gross margin improvements are key priorities
for Engagement Labs in 2018, and we have been investing in 2018 to
drive sales, including the hiring of a Chief Revenue Officer to
build out our sales organization,"
said Ed Keller, CEO of Engagement
Labs. "Our 20+% revenue growth year to date is reflective of this
commitment, and our growing pipeline is expected to yield continued
growth for the remainder of the year and into
2019."
The Company also announced that the Board has approved the
issuance of 500,000 restricted share awards to an officer of the
Corporation. Each Restricted Share will be subject to risk of
forfeiture over a period of three years. 797,500 stock options at
an exercise price of $0.05 per share
having a term of five years have been granted to employees of the
Corporation.
About Engagement Labs
Engagement Labs (TSXV: EL)
(OTCQB: ELBSF) is an industry-leading data and analytics firm that
provides social intelligence for Fortune 500 brands and companies.
The Company's TotalSocial® platform focuses on the entire social
ecosystem by combining 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, matched with its cutting-edge predictive
analytics that use machine learning and artificial intelligence to
reveal the social metrics that increase marketing ROI and top line
revenue for its diverse group of clients.
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:
Vanessa Lontoc, Marketing Director /
Ed Keller, CEO
Engagement Labs
732-846-6800
vanessa.lontoc@engagementlabs.com /
ed.keller@engagementlabs.com
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SOURCE Engagement Labs