EARNINGS OUT
SITO Mobile Reports First Quarter Financial Results and Guidance for Second Quarter
Q1 Revenue $6.6 Million, Up 33% period-over-period; Second Quarter Revenue Guidance Range of $10-$13 million
Results Demonstrate Substantial Progress in Building a Sound Foundation for Growth and Shareholder Value Creation
JERSEY CITY, N.J., May 03, 2017 (GLOBE NEWSWIRE) -- SITO Mobile Ltd. (NASDAQ:SITO), a leading mobile engagement platform, today announced its results for the first quarter ended March 31, 2017.
First Quarter and Recent Business Highlights
TOTAL REVENUE: $6.6 million, an increase of 33% compared to Q1 2016.
GROSS PROFIT: $3.4 million (52% Gross Margin), up from $2.6 million (53% Gross Margin) in Q1 2016.
CASH ON HAND: Approximately $7 million on March 31, 2017.
PROMOTIONS: SITO Mobile recently promoted Jon Lowen to Chief Operating Officer, Adam Meshekow to Chief Revenue Officer and Michael Blanche to Chief Technology Officer. These promotions are another important step in SITO Mobile’s efforts to strengthen the business, recognize the best talent and position the Company for future growth and success.
ADDITIONAL TALENT ON THE BOARD: On April 18, 2017, SITO Mobile added Lowell W. Robinson to its Board of Directors. Mr. Robinson has thirty years of senior-level strategic, financial, operational, governance and M&A experience and has served on seven public company boards.
NEW DATA PRODUCTS: SITO Mobile recently launched two new data service products; SITO LABS, providing location-based behavioral insights to marketers, and Real-Time Verified Walk In as a service, providing our attribution products to multiple marketing channels beyond our own advertising platform.
GUIDANCE: Expect Q2 revenue to be in the range of $10-$13 million.
"We are hitting our stride at SITO Mobile and our results demonstrate that we are building a sound foundation for growth and shareholder value creation. Our 33% revenue growth for Q1 was a solid start for the year. That, combined with strong momentum coming into Q2, begins what we believe will be a record quarter, leading to another excellent year for SITO Mobile,” said Rory O’Connell, Interim CEO of SITO Mobile. “We are growing our customer base, campaign volume and average campaign dollars. We are growing in our established vertical markets including retail, automotive and consumer products and we are also expanding in entertainment, tourism and state and local government markets. On this strong foundation, we believe the second quarter will deliver revenues in the range of $10-$13 million.”
Conference call information:
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