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Good Life Networks Inc. Achieves Record $9.7 Million

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Potenzhal   Tuesday, 05/15/18 07:11:46 PM
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Good Life Networks Inc. Achieves Record $9.7 Million in Revenue and Record $1.7 Million in EBITDA for 2017

https://web.tmxmoney.com/article.php?newsid=7239069597236482&qm_symbol=GOOD

Canada NewsWire

VANCOUVER, April 26, 2018

VANCOUVER, April 26, 2018 /CNW/ - Good Life Networks Inc. ("GLN", or the "Company") (TSX-V: GOOD, FSE: 4G5), a Vancouver-based programmatic advertising technology company, is pleased to announce that it has filed its consolidated financial statements and management's discussion and analysis for the year ended December 31, 2017, available for viewing on www.sedar.com. All figures are expressed in Canadian dollars unless otherwise stated.

Financial Highlights

Record revenue during the twelve months ended December 31, 2017 increased 278% to $9,723,075 compared to $2,571,311 during the twelve months ended December 31, 2016;

Gross profit during the twelve months ended December 31, 2017 increased 800% to $4,334,670 from $481,795 during the twelve months ended December 31, 2016;

Gross margin as a percentage of revenue during the twelve months ended December 31, 2017 increased to 45% compared to 19% during the twelve months ended December 31, 2016, representing a 137% increase;

Record net income for the twelve months ended December 31, 2017 was $1,337,726 compared to a net loss of $3,000,692 during the twelve months ended December 31, 2016;

EBITDA for the twelve months ended December 31, 2017 was $1,716,189.

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