Trakopolis Announces First Quarter Results
30 May 2019 - 7:52AM
Trakopolis IoT Corp. ("
Trakopolis" or the
"
Company") (TSXV: TRAK) is pleased to report its
financial and operating results for the first quarter ended March
31, 2019.
"During Q1 2019 operational adjustments resulted
in a 41% improvement to the bottom line compared with Q1 2018. We
have set aggressive goals for 2019 focused on sales initiatives,
leveraging our products and increasing efficiencies to improve the
overall operating performance of the Company and are pleased to see
movement in the right direction for the first quarter,” stated
Brent Moore, CEO of Trakopolis.
“Our ability to work with market leaders in
different segments, combined with our customizable, hardware
agnostic platform has allowed us to differentiate our services
offering in the industrial internet of things market. As we look
forward in 2019, we want to concentrate our efforts on utilizing
our product/solution positioning, established customers and sales
channels to drive improvements in top and bottom-line operating
results. We look forward to working with clients to deliver,
comprehensive, end-to-end industrial internet of things
solutions."
First quarter financial highlights include:
- A net loss of $0.7 million for the quarter which is a 41%
improvement from Q1 in the prior year and a 36% improvement in
EBITDA for Q1 2019 compared to Q1 2018.
- Subscriber base increase of 1,771 for the twelve months ended
March 31, 2019 which represents a 11% increase.
- Enterprise customer segment represents 55% of monthly
subscription revenue up from 43% in Q1 2018.
- Subscription sales of $1.18 million for the quarter ended March
31, 2019, representing a 3% decrease from the same quarter in the
prior year primarily as a result of subscription hibernations.
- Operating expenses declined by $0.4 million from $1.7 million
in Q1 2018 to $1.3 million in Q1 2019.
Trakopolis’ first quarter financial statements
and MD&A have been posted to the Company’s website and can be
accessed at http://trakopoliscorp.com/investors/. The MD&A and
Financial Statements have also been filed with SEDAR and will be
accessible at www.sedar.com.
About Trakopolis Trakopolis is
a Software as a Service (SaaS) company with proprietary,
cloud-based solutions for real-time tracking, data analysis and
management of corporate assets such as equipment, devices, vehicles
and workers. The Company's asset management platform works across a
variety of networks and devices. Trakopolis has a diversified
revenue stream from many verticals including oil and gas, forestry,
transportation, construction, rentals, urban services, mining,
government and others.
For further information, please
contact:
Brent Moore, President and Chief Executive OfficerTrakopolis IoT
Corp.Telephone: (403) 450-7854 Email: bmoore@trakopolis.com
Forward-Looking Information
This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation that are not historical facts. Forward-looking
statements involve risks, uncertainties, and other factors that
could cause actual results, performance, prospects, and
opportunities to differ materially from those expressed or implied
by such forward-looking statements. Forward-looking statements in
this news release include, but are not limited to, statements
regarding: the ability of the Company to achieve material sales
growth. Forward-looking statements are necessarily based on a
number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties
and other factors which may cause actual results and future events
to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: the ability of the Company to retain or attract
qualified personnel to successfully implement products and services
following the sales process; those additional risks set out in the
Company's public documents filed on SEDAR at www.sedar.com; and
other matters discussed in this news release. Although the Company
believes that the assumptions and factors used in preparing the
forward-looking statements are reasonable, undue reliance should
not be placed on these statements, which only apply as of the date
of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all.
Except where required by law, the Company disclaims any intention
or obligation to update or revise any forward-looking statement,
whether as a result of new information, future events, or
otherwise.
Non-GAAP Measures
This news release contains references to certain
financial measures that do not have any standardized meaning
prescribed by IFRS and may not be comparable to similar measures
presented by other entities. These non-GAAP financial performance
measures should be viewed as a supplement to, and not a substitute
for, the Company’s results of operations reported under IFRS. These
financial measures are identified and defined below:
A “Subscriber” is defined as a customer's
individual asset which is monitored by a telematics device. A
Subscriber is an important metric for our investors because it
provides an indication of our ability to generate Recurring Revenue
from providing recurring service to our customers.
Please refer to the Company’s March 31, 2019
MD&A dated May 29, 2019 for additional information regarding
these non-GAAP measures.
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.
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