OTTAWA, ON, May 20, 2021 /CNW/ - Intouch Insight Ltd.,
("Intouch or the Company") (TSXV: INX) (OTCQX: INXSF) today
announced its operating and financial results for the quarter ended
March 31, 2021.
Revenue from Q1 2021 was $3,209,074, which was 32% lower than revenue of
$4,754,107 in Q1 2020 due to impacts
resulting from the COVID-19 pandemic. Loss from operating
activities was $261,108 in Q1 2021
compared to a loss of $293,782 in Q1
2020. The quarter's net loss was $137,114 compared to a loss of $201,348 in Q1 2020. Company-defined adjusted
EBITDA was $238,169 for Q1 2021,
compared to $415,702 in Q1 2020.
Gross Margin increased to 52.7% in Q1 2021 from 50.4% the prior
year.
"Financial results in Q1 were solid despite the impact on
revenue from the ongoing pandemic, and we are very pleased that the
strength of the underlying business is shining through as we
continue to recover with the economy and plan for future
growth. Investment in sales and marketing increased in Q1 and
will accelerate as the year progresses. With a light at the
end of the tunnel in the form of vaccines, Intouch is ready to take
advantage of opportunities as 2021 unfolds," said Cameron Watt, President and Chief Executive
Officer.
"We remain focused on supporting our clients whether they are up
and running today or rebuilding post-pandemic. We will
continue to search for opportunities to accelerate growth while
maintaining financial stability and retaining the resources
necessary," said Watt.
Consolidated Statement of Operations
Consolidated
Statements of Operations
|
|
|
|
Q1
2021
|
Q1 2020
|
|
|
|
Revenue
|
$
|
3,209,074
|
$
|
4,754,107
|
Cost of
services
|
1,516,821
|
2,356,589
|
|
|
|
Gross
margin
|
1,692,253
|
2,397,518
|
|
|
|
Total operating
expenses
|
1,953,361
|
2,691,300
|
|
|
|
Earnings (loss) from
operating activities
|
(261,108)
|
(293,782)
|
|
|
|
Other earnings
(expense) including taxes
|
123,994
|
92,434
|
Net loss
|
$
|
(137,114)
|
$
|
(201,348)
|
About Intouch Insight
Intouch Insight offers a
complete portfolio of customer experience management (CEM) products
and services that help global brands delight their customers,
strengthen brand reputation and improve financial performance.
Through its flagship SaaS product, LiaCX®, Intouch helps clients
collect and centralize data from multiple customer touch points,
gives them actionable, real-time insights, and provides them with
the tools to continuously improve customer experience. Founded in
1992, Intouch is trusted by over 300 of North America's most-loved brands for their
customer experience management, customer survey, mystery shopping,
mobile forms, operational and compliance audits, and event
marketing automation solutions. For more information, visit
intouchinsight.com.
Certain statements included in this news release contain
forward looking statements, which by their nature are necessarily
subject to risks and uncertainties and other factors that may cause
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such statements reflect the Company's current
views with respect to future events, and are based on information
currently available to the Company and on hypotheses which it
considers to be reasonable; however, management warns the reader
that hypotheses relative to future events which are beyond the
control of management could prove to be false, given that they are
subject to certain risks and uncertainties.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Intouch Insight Ltd.