Quarterly Revenue growth of 44% for TotalSocial® platform
year-over-year
MONTREAL, Nov. 22, 2018 /CNW/ -- Engagement Labs Inc.
(TSXV: EL) (OTCQB: ELBSF) released results for its third
quarter ended September 30, 2018.
Condensed interim consolidated Financial Statements and Management
Report are available on SEDAR's website at www.sedar.com.
Third Quarter Financial Highlights
- TotalSocial® Revenue of $727,316
for Q3 2018 represents a 44% increase vs Q3 2017 of $506,204. For the comparative quarters the number
of brands using TotalSocial® increased from 6 to 14, and the number
of industry sectors increased from 6 to 10. New sectors include
Sports, Retail/Apparel, Beverage and Agency, to go along with
Media, Beauty, Telecom, Software, Food and Financial.
- Total revenue, including both TotalSocial® and EL legacy
products was $883,342 for Q3 2018
compared to $878,953 for Q3
2017.
- In Q3, the increase in amortization of TotalSocial® software
development led to a decrease of gross margin to 40% in Q3 2018,
from 51% in Q3 2017. Without the amortization, the gross margin
remained stable at 51% for the comparative quarters.
- Operating expenses increased 17% or $212,074 from Q3 2017. The increase from 2017
reflects management's commitment to invest in sales and marketing
to drive TotalSocial® technology sales growth, including the hiring
of a Chief Revenue Officer in late December.
- Net loss before income taxes increased 24% or $260,080 from -$1,089,472 for Q3 2017 to -$1,349,552 for Q3 2018.
- Non-GAAP Adjusted EBITDA loss of $747,432 for Q3 2018, representing an increase of
$362,597 compared to $384,835 for Q3 2017.
- Basic and diluted income per share was ($0.01) for Q3 2018 compared to ($0.01) for Q3 2017.
- As at September 30, 2018, the
Company had cash (excluding restricted cash) of $1,646,785, compared to $2,677,049 as of December
31, 2017.
"2018 is a shaping up to be a transformative year for Engagement
Labs as TotalSocial is now resonating with clients and prospects,"
said Ed Keller, CEO. "Our +44%
revenue growth for TotalSocial from Q3 2017 to Q3 2018 is just the
beginning, and our growing pipeline is expected to yield continued
growth for the remainder of the year and into 2019. Further, our
partnership with Kantar Analytics UK, announced in October, is
expected to drive enhanced UK revenue given their large client base
to sell into, and accompany our sales efforts in the US."
About Engagement Labs
Engagement Labs (TSXV: EL)
(OTCQB: ELBSF) is an industry-leading data and analytics firm that
provides social intelligence for Fortune 500 brands and companies.
The Company's TotalSocial® platform focuses on the entire social
ecosystem by combining powerful online (social media) and offline
(word of mouth) data with predictive analytics. Engagement Labs has
a proprietary ten-year database of unique brand, industry and
competitive intelligence, matched with its cutting-edge predictive
analytics that use machine learning and artificial intelligence to
reveal the social metrics that increase marketing ROI and top line
revenue for its diverse group of clients.
To learn more
visit www.engagementlabs.com / www.totalsocial.com.
About TotalSocial®
TotalSocial®
is a premier data and analytics platform that provides brands with
unique insights, improved marketing ROI and strategies to grow
revenue. Fueled by actionable online and offline data, TotalSocial
is the only platform that encompasses and listens to the entire
social ecosystem. TotalSocial offers unique, proprietary data about
brands, its industry and competitors. With cutting-edge
diagnostics, patent-pending predictive analytics and machine
learning, TotalSocial identifies business opportunities and
provides recommendations and a roadmap to grow revenue and achieve
business and marketing goals.
Disclaimer in regard to Forward-looking Statements
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities laws.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management at this time, are inherently subject to significant
business, economic and competitive uncertainties and contingencies.
Investors are cautioned not to put undue reliance on
forward-looking statements. Except as required by law, Engagement
Labs does not intend, and undertakes no obligation, to update any
forward-looking statements to reflect, in particular, new
information or future events.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For media inquiries please contact:
Vanessa Lontoc, Marketing Director /
Ed Keller, CEO
Engagement Labs
732-846-6800
vanessa.lontoc@engagementlabs.com /
ed.keller@engagementlabs.com
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SOURCE Engagement Labs