EZTD Inc. operates several successful binary options and Forex platforms, in Europe and the UK. The company develops, owns and runs its own binary options software and have been pioneers in the online binary options industry since its inception. The EZTD Inc. trading platforms are fully regulated binary options platforms operating under the authorization of the Cyprus Securities and Exchange Commission (CySEC).
Targeting the global trading community, our brands enjoy the safest, most robust and advanced technology available today. Customers can trade on an array of more than 120 financial assets, including Stocks, Indices/Futures, Commodities and Foreign Currencies which are quoted on leading financial markets around the world.
EZTrader was launched in 2008. EZTD, Inc. also owns and operates EZInvest.com.
In addition to the superior software, there is a strong focus in all brands on ease of use and transparency. The brands are particularly popular for their high levels of education and the wealth of useful information available to users.
Professional and friendly customer service and one-on-one training sessions are available to all customers making our brands the perfect platforms for both new and experienced traders.
EZTD Inc. Business and Trading Update and Listing on OTC Bulletin Board
Positive adjusted EBITDA of $730,000 and total revenues of $19.5 million
(Tel Aviv, ISRAEL; November 30, 2015) EZTD Inc. (OTCQB: EZTD) (“EZTD” or “the Company”), a worldwide leader of online binary options trading, is pleased to announce that its common stock has been approved for quotation on the U.S. over-the-counter bulletin board (OTCBB) and to provide an update on its business and trading for the nine-month period ended September 30, 2015.
Business and Trading Update
EZTD has developed and currently operates an online trading platform allowing retail customers to trade a wide range of binary options internationally with more than 100 different assets. The Company’s proprietary trading platform is accessible from multiple operating systems (Windows, Safari, iOS and Android, and mobile apps). It is designed to be as intuitive and user-friendly as possible.
During the nine-month period ended September 30, 2015, the Company invested in new sponsorships and increased its investments in brands and new technology.
The Company generated revenues primarily from its binary options business. The Company’s total revenues for the nine months ended September 30, 2015 increased by 36% to approximately $19.5 million, from approximately $14.3 million for the nine months ended September 30, 2014. This growth is mainly due to the Company’s increased spending on customer acquisition, website development, R&D and marketing.
In addition, the Company reported positive adjusted EBITDA of $730,000 for the nine months ended September 30, 2015, while in the nine months ended September 30, 2014 the Company had negative adjusted EBITDA of $1.1 million.*
“We are delighted to have commenced trading in the public marketplace and are committed to providing our investors with information on the Company and the progress it makes,” said Shimon Citron, EZTD’s Chief Executive Officer. “We look forward to continuing to provide excellent service to all of our customers and we expect to finish 2015 with approximately $25 million in annual revenues,” Citron concluded.
* See ‘Reconciliation of EBITDA and Adjusted EBITDA to Net Income’ below.
About EZTD Inc.
Launched in June 2011, EZTD (EZTRADER Inc.) is one of the pioneers of secure and regulated online binary trading and maintains its position as a leading, reputable and reliable binary options platform. The Company offers 24/7 trading on more than 120 assets including commodities, stocks, currency pairs and indexes.
Currently available in more than 11 languages, the Company is growing rapidly and continues to seek exciting opportunities to further enhance its presence throughout Europe. The Company’s advanced mobile app is user-friendly and secure, and is available for both Android and iOS-compatible smartphones and tablets. EZTD is a sponsor to some of the leading sports teams in Europe. The Company is authorized by CYSEC throughout Europe.
|Luther Pendragon || |
|Alexis Gore ||+44 207 618 9100 |
RECONCILIATION OF EBITDA AND ADJUSTED EBITDA TO NET INCOME
U.S. dollars in thousands.
| || || ||Nine months ended || |
| || || ||September 30, 2015 || || || ||September 30, 2014 || |
| || || ||Unaudited || |
|Net loss || ||$ ||(3,711 ||) || ||$ ||(7,261 ||) |
|Add: Financial expenses, net || || ||2,229 || || || ||755 || |
|Add: Income taxes || || ||- || || || ||- || |
|Add: Depreciation and amortization || || ||325 || || || ||143 || |
|Add: Impairment of bank deposits || || ||- || || || ||4,122 || |
|EBITDA || || ||(1,157 ||) || || ||(2,241 ||) |
|Add: Other (income) expense || || ||608 || || || ||- || |
|Add: Stock-based compensation || || ||1,279 || || || ||1,182 || |
|Adjusted EBITDA || ||$ ||730 || || ||$ ||(1,059 ||) |
The table above reconciles net income to EBITDA and Adjusted EBITDA. EBITDA is defined as net income before net interest expense, income taxes, depreciation and amortization and a one-time expense of a non-recurring loss due to the bankruptcy of Corporate Commercial Bank in Bulgaria, which is not relevant to forward-looking analyses and is not linked to the Company’s operational performance. Adjusted EBITDA is defined as EBITDA before other operating expenses related to the acquisition of a subsidiary in Japan and a regulatory fine, and expenses related to stock-based compensation. Although EBITDA and Adjusted EBITDA are not measures of performance calculated in accordance with GAAP, management believes that they are useful to the Company and to an investor in evaluating the Company because they are widely used measures to evaluate a company’s operating performance.