YANGAROO Reports 2017 Annual and Fourth Quarter Results

YANGAROO Inc (TSXV:YOO), the leading secure digital media management and distribution company announced its results for the year and fourth quarter that ended December 31, 2017.

The company announced that revenue for the fiscal year 2017 was $7,655,166 which is 43 per cent higher than fiscal 2016. Yangaroo’s fourth quarter revenue was 22 per cent higher than the revenue for the same period in the previous year.

As quoted in the press release:

The Advertising Division had an annual revenue of $4,712,325, marking an 84% increase over 2016. Fourth quarter’s revenue was $1,179,637, an increase of 46% over the same period in 2016.

The Entertainment Division’s annual revenue was $2,942,841, an increase of 6% over 2016. The fourth quarter’s revenue was $730,337, a decrease of 4% over the same period in 2016, primarily due to the timing of booking awards show revenue.

“I am very proud to announce the first full year of profitability for the Company,” said Gary Moss, President and CEO of YANGAROO. “Improving the bottom line performance of the Company by $1.5M year on year is proof of the scalable business model that we have built. While pleased with the growth to date, we continue to strive towards our goal of 10% advertising market share. We have worked hard to position YANGAROO as a viable player in the advertising space and, as a result, our pipeline of prospects has never looked better.”

Total operating expenses for the year ended December 31, 2017 was $7,351,905, 21% higher than the previous year, primarily as a result of a one-time restructuring cost, accrual for incentive bonuses which are linked to overall profitability, increased commission due to increased sales and increased accruals for bad debts recognized in the year. The income from operations for 2017 was $303,261, an improvement of $1,021,041, from a loss of $(717,780) in 2016. The income from operations for the fourth quarter of 2017 was $103,154, decreasing 19% over the same period in 2016, primarily as a result of the bonus and bad debts accruals mentioned above. Excluding the impact of non-cash, non-operating and one-time restructuring costs, fiscal year 2017 had a normalized cash flow of $952,271, an improvement of $1,499,983 over 2016 and the fourth quarter of 2017 had normalized cash flow of $150,879, a decrease of 6%.

Summary of operating results for the years and fourth quarters ended December 31:

$CDN	Year		4th Quarter
2017	2016	2017	2016
Revenue	7,655,166	5,336,831	1,909,974	1,569,355
EBITDA (loss)	265,785	(663,184)	137,508	181,394
Normalized EBITDA (loss)	952,271	(547,712)	150,879	160,093
Net income (loss) for the period	77,228	(834,933)	88,493	139,987
Income (loss) per share (basic & diluted)	0.001	(0.014)	0.001	0.002

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