Memex Announces Financial Results from Q1 2016

Memex Inc. (TSXV:OEE), a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, released its financial results and operational highlights for its first quarter of fiscal 2016.
According to the press release, the financial highlights for Q1 are as follows:

• Memex generated record quarterly revenue of $614 thousand, $113 thousand higher than the same period in the prior year, and 7% higher than the fourth quarter of 2015. The Company also marked its fourth consecutive quarter of revenue growth.

• Memex produced gross margin of $375 thousand, 27% higher than the same quarter in the prior year.

• Unearned revenue of $482 thousand closed the quarter down $100 thousand from the Company’s record high of $582 thousand at the end of Q4-2015.

• Memex’s sales force turned in $876 thousand in product bookingsⁱ for the quarter, 58% or $320 thousand more than Q4-2015.

• The Company showed a $641 thousand net and comprehensive loss for the quarter equating to a $0.007 loss per share. This compares with a $461 thousand net and comprehensive loss in the same quarter last year, and a similar $0.007 loss per share.

Click here to read the full press release.