SoMedia Networks (TSX-V:VID), the pioneer of globally scalable
video production solutions, today announced that it has filed
financial results for the three month period ended June 30,
2015.
The results for the three months ending June 30, 2015 reflect
record quarterly sales of $408,938 an increase of 59% over the year
ago quarter. Reseller Partner acquisition grew 69% over the prior
quarter, and 239% over the year-ago quarter. Sales backlog
increased to a record $1,491,863, growth of 21% over the prior
quarter. Revenue grew 11% over the prior quarter, and 22% over the
same quarter in the prior year. Complete financial results for the
second quarter of 2015 are available at www.sedar.com.
Highlights:
- Record sales posted in Q2 2015 with an
increase of 59% over the previous year totaling $408,938
- Revenue exceeds historical records up
11% over Q1 2015 and 22% year ago quarter to $139,101
- Sales backlog continues to grow, now
$1.49 million up $21% over the previous quarter and 145% over the
same quarter in the previous year.
- Reseller growth continued to
strengthen, producing sales of $272,799 - a gain of 31% over the
prior quarter and 27% over the year-ago quarter
- Reseller Partner acquisition grew 69%
over the prior quarter, and 239% over the year-ago quarter
- Developed and launched SoMedia Ads and
an integrated Facebook advertising program plus completed
integrations with more than 10 major SaaS marketing platforms
including Marketo (NASDAQ:MKTO), Oracle-Eloqua (NASDAQ:ORCL)
- Deployed significant improvements to
outbound sales processes through the development of a sophisticated
Revenue Performance Management System (RPM)
Q2 2015 Key Performance
Indicators
Quarter ended June30,
2015
Quarter ended June30,
2014
Quarter ended June30,
2013
Value of Backlog (CAD) 1,491,863 609,720 261,701 Value of Sales
(CAD) 408,938 257,252 110,414 Average Order Value – Repeat Sale
(CAD) 4,713 3,703 1,652 Average Order Value – New Sale (CAD) 5,590
2,983 828 Time to Repeat Sale (Months) 1.14 3.25 6.43
Definitions
Sales: The dollar value of videos sold during the period. A
video is considered sold when a client makes an order and provides
a deposit. Revenue is not recognized until the video is completed
and approved by the client.
Average Order Value - Repeat Sales: The total of all orders
received from repeat clients in the quarter, divided by the number
of unique orders made by these clients.
Average Order Value - New Sales: The total orders received from
new clients in the quarter, divided by the number of unique orders
made by these clients.
Backlog – the value of videos sold to date but still to be
completed.
Selected Financial Information
In Canadian Dollars ($)
Quarter ended June30,
2015
Quarter ended June30,
2014
Quarter ended June30,
2013
Total Revenues 139,101 113,751 47,631 Employment expenses 722,163
791,966 708,955 Other operating expenses 1,072,942 483,738 814,819
Non-operating expenses 111,415 47,786 1,361,843 Comprehensive Loss
for the Period 1,767,419 1,209,740 2,817,961 Loss per share (basic
and diluted)1 (0.04) (0.04) (0.16)
As at June 30, 2015
As at June 30, 2014
As at June 30, 2013
Total Assets
864,584
586,046
2,701,105
Long term financial liabilities
808,097
-
633,780
Note: the foregoing is a summary of certain financial
information relating to the Company and should be read in
conjunction with the Company’s audited annual Financial Statements
for the financial years ended December 31, 2014 and 2013 including
the notes thereto.
About SoMedia Networks
SoMedia Networks, the creator of Scalable Video, has
reengineered how businesses access video content creation,
production and deployment. The cloud-based SoMedia Platform allows
businesses, brands and media to easily order the production of
custom video content at scale and volume, anywhere, on demand, with
rapid turnaround, and at a fraction of current costs.
SoMedia provides Scalable Video as an integrated solution to
corporate partners, as a resale solution through thousands of web
marketing firms and directly to digital agencies and millions of
SMBs across North America. To learn more, visit:
www.somedia.net.
Neither the 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. This news release does not constitute an
offer to sell or a solicitation of an offer to sell any securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
Certain information contained in this document may include
"forward-looking information". Without limiting the foregoing, the
information and any forward-looking information may include
statements regarding the closing of the Offering, the filing of a
preliminary and final prospectus and the use of proceeds of the
Offering. In this document, words such as "may", "would", "could",
"will", "likely", "believe", "expect", "anticipate", "intend",
"plan", "estimate" and similar words and the negative form thereof
are used to identify forward-looking statements. Forward-looking
statements should not be read as guarantees of future performance
or results, and will not necessarily be accurate indications of
whether, or the times at or by which, such future performance will
be achieved. Forward-looking statements and information are based
on information available at the time and/or the Company
management's good-faith beliefs with respect to future events and
are subject to known or unknown risks, uncertainties, assumptions
and other unpredictable factors, many of which are beyond the
Company's control. For additional information with respect to these
and other factors and assumptions underlying the forward-looking
statements made in this press release, see the section entitled
"Risks and Uncertainties" in the Management's Discussion and
Analysis of the Company for its most recent interim financial
statements filed with the Canadian securities commissions. The
forward-looking information set forth herein reflects the Company’s
expectations as at the date of this press release and is subject to
change after such date. The Company disclaims any intention or
obligation to update or revise any forward looking statements,
whether as a result of new information, future events or otherwise,
other than as required by law.
The measures described in the Key Performance Indicators table
above are not intended to be measures that should be regarded as an
alternative to other financial operating performance measures
prepared in accordance with IFRS. Those measures do not have a
standardized meaning prescribed by IFRS and may not be comparable
to similar measures presented by other companies. They are provided
to assist investors in determining the Company’s ability to
generate profitability from its operations and to evaluate its
financial performance. For further descriptions of these terms,
please refer to either the Company’s Management’s Discussion and
Analysis for the period or to the ‘Definition of Key Performance
Indicators’ section at the conclusion of this document.
The Company does not intend, nor does it undertake, any
obligation to update or revise any forward-looking information or
statements contained in this document to reflect subsequent
information, events or circumstances or otherwise, except as
required by applicable laws.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150820005239/en/
Company:SoMedia NetworksGeorge Fleming,
604-683-5510Founder,
Co-CEOgfleming@somedia.netorMedia:Hotwire PRAnnette Leach,
415-840-2790somedia@hotwirepr.comorInvestor
Relations:SoMedia NetworksGreg Werbowski, 604-683-5510 ext.
590gwerbowski@somedia.netorThe Howard Group Inc.Dave Burwell and
Brad
Dryer1-888-221-0915403-221-0915dave@howardgroupinc.combrad@howardgroupinc.com
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