SAN LUIS OBISPO, Calif., Feb. 20, 2015 (GLOBE NEWSWIRE) -- via PRWEB - SpendSmart Networks, Inc. (SSPC) a leading national full-service mobile and loyalty marketing agency, which operates the SMS Masterminds Mobile Loyalty Software License, has achieved its first profitable month in January 2015.
Based on unaudited preliminary financials, and excluding non-cash expenses such as stock based compensation and depreciation, January 2015 is the first profitable month for the company in recent history.
"This is another great milestone as we leverage our amazing team, board of directors, licensees and merchants to build a world-class organization. Our year-over-year revenue growth for January is almost 900%. We achieved this while expanding our team significantly to almost 50 people in San Luis Obispo, and getting our fiscal house in order. Closing the card business to focus on our core competency has placed the company in a more strategic stance for the future. Investing in our mobile division and making a strategic acquisition last year of TechXpress were aggressive moves that are already paying off," explains Alex Minicucci, CEO of SpendSmart.
Last year SpendSmart grew from approximately 55 Masterminds licensees to 170 by year-end, and from 1.4M customers to 3M at year-end. On Jan 5, 2015, a second software license, referred to as the "THRIVE license" was launched using resources from the TechXpress acquisition. As of Feb 18th, SpendSmart has 58 "THRIVE" licensees.
Minicucci continues, "We are excited by the results of the THRIVE license launch; it's a much needed solution for merchants and a strategic asset for our licensees. Coming in April we will be launching Off Day Trainer, our first niche product designed for the fitness industry. By leveraging our licensee network we deploy rapidly in markets across the country, creating new recurring revenue streams for ourselves and our licensees."
