TORONTO, Feb. 22, 2017 /CNW/ - Symbility Solutions Inc.
("Symbility" or the "Corporation") (TSX.V: SY), a global software
company focused on modernizing the insurance industry, is pleased
to announce fiscal 2017 Guidance. In 2017, the Corporation
estimates that it will generate revenue in the range of
$40 million to $42 million. This
revenue growth is expected to generate Adjusted EBITDA1
in the range of $2 million to $3
million. The Corporation also expects to have positive cash
flow.
"The momentum we created in 2016 saw Symbility sign some
significant new contracts in North
America and Europe; plus,
entry into Australia, which lead
to revenue growth beyond our original expectations," commented
James Swayze, CEO of Symbility
Solutions. "Considering our continued expansion in pipeline
opportunities and the ongoing momentum in our sales cycles, we are
confident that we can maintain our revenue growth rate in this
range while generating sufficient operational leverage to achieve a
positive Adjusted EBITDA margin."
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1 Adjusted EBITDA is
a non-IFRS measure and is calculated as earnings before interest
income, taxes, depreciation and amortization, impairment losses,
stock-based compensation, and other non-recurring gains or losses
including transaction costs related to acquisition and
restructuring cost. Management believes Adjusted EBITDA is a useful
measure that facilitates period-to-period operating comparisons.
Adjusted EBITDA does not have any standardized meaning prescribed
by IFRS and is not necessarily comparable to similar measures
presented by other companies. Adjusted EBITDA should not be
considered in isolation or as a substitute for net earnings (loss)
prepared in accordance with IFRS as issued by IASB. All other
financial measures referenced herein have been prepared in
accordance with International Financial Reporting Standards unless
stated otherwise.
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CAUTION REGARDING FORWARD-LOOKING INFORMATION
This press release may contain forward-looking statements with
respect to the Corporation, its products and operations and the
contemplated financing. These
statements generally can be identified by use of
forward looking words such as "may", "will", "expect", "estimate",
"anticipate", "intends", "believe" or "continue" or the
negative thereof or similar variations. The actual
results and performance of the Corporation discussed herein could
differ materially from those expressed or implied by such
statements. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations.
Important factors that could cause actual results to differ
materially from expectations include, among other things, general
economic and market factors, competition, changes in government
regulations, and the factors described under "Risk Factors" in the
Management's Discussion and Analysis and Annual Information Form of
the Corporation which are available at www.sedar.com. The
cautionary statements qualify all forward-looking statements
attributable to the Corporation and persons acting on their behalf.
Unless otherwise stated, all forward-looking statements speak only
as of the date of this press release and the Corporation has no
obligation to update such statements.
ABOUT SYMBILITY
Symbility (TSX.V: SY) believes in creating world-class
experiences that simplify business and improve lives. With a
history in modernizing insurance claims solutions for the property
and health industries, Symbility has established itself as a
partner that puts security, efficiency and customer experience
first. Symbility PROPERTY™ brings smarter thinking to property
insurance. Symbility HEALTH™ helps benefits professionals build
their brands and businesses. Our strategic services team, Symbility
INTERSECT™ empowers a variety of businesses with smarter mobile and
IoT product development strategy, design thinking and engineering
excellence. With our three segments pushing industries forward,
Symbility proves that change for the better is entirely possible.
symbilitysolutions.com
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Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
All trade names are the property of their
respective owners.
SOURCE Symbility Solutions Inc.