SITO Mobile Reports March 31, 2016 Quarterly Financial Results
Quarterly Revenue of $6.5 Million Up 72% Year-Over-Year; Led by Media Placement Revenue, Up 200% Year-Over-Year
JERSEY CITY, N.J., May 16, 2016 (GLOBE NEWSWIRE) -- SITO Mobile Ltd. (NASDAQ:SITO), a leading mobile engagement platform, today announced its results for the quarter ended March 31, 2106.
Business Highlights for March 31, 2016 Quarter
TOTAL REVENUE: $6.5 million, an increase of 72% year-over-year.
MEDIA PLACEMENT REVENUE: (SITO Mobile’s programmatic advertising revenue) was $4.9 million, an increase of 200% year-over-year.
GROSS PROFIT: $3.4 million (53% gross margin) for the March 31, 2016 quarter, up from $2.1 million (56% gross margin) for the March 31, 2015 quarter. (Please refer to the supplemental schedule below for calculation of Gross Profit and Gross Margin)
“We’ve begun 2016 with strong results and accelerating momentum,” said Jerry Hug, CEO of SITO Mobile. “We’re seeing higher levels of customer engagement in our Media Placement business – resulting in strong growth in bookings. Our Media Placement revenue is driven largely by our Verified Walk-In measurement and attribution solution, which continues to bring excellent mobile campaign results for our clients. We’re continually improving our platform and adding new capabilities along with new data and distribution partners, creating even better and broader reaching mobile engagement solutions. As we move forward in 2016, our product enhancements combined with client success-to-date are bringing more clients, more campaigns and larger campaign size to SITO Mobile. Altogether, we are driving record bookings and we are looking forward to producing significant Media Placement revenue growth for the current quarter, the balance of the year and beyond.”
