Route1 Announces Q2 2017 Financial Results
Rout 1 (TSXV:ROI) has announced its second quarter financial results for the three and six month period ended June 30, 2017. As quoted in the press release: In 000s of CAD dollars Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Revenue Recurring revenue and services 1,347 1,911 1,865 1,808 1,760 Devices and appliances …
Rout 1 (TSXV:ROI) has announced its second quarter financial results for the three and six month period ended June 30, 2017.
As quoted in the press release:
In 000s of CAD dollars Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Revenue Recurring revenue and services 1,347 1,911 1,865 1,808 1,760 Devices and appliances 24 30 21 221 51 Other 0 0 0 2 1 Total revenue 1,371 1,941 1,886 2,031 1,812 Cost of revenue 298 335 338 448 341 Gross profit 1,073 1,606 1,548 1,583 1,471 Operating expenses 1,151 1,289 1,356 1,243 1,299 Operating (loss) profit 1 (78 ) 317 192 340 172 Total other expenses 2 157 109 101 34 (27 ) Comprehensive net (loss) gain (235 ) 208 91 306 199
1 Before stock based compensation 2 Includes AirWatch litigation expenses Revenue from the recurring revenue and services segment for the three months ended June 30, 2017 decreased $413,000 from the same period in 2016. The decrease is largely a result of a reduction in the number of paid, active MobiKEY application software users with U.S. Customs and Border Protection, an agency of the U.S. Department of Homeland Security.
Recurring revenue and services
In CAD dollarsJun 30
2017Mar 31
2017Dec 31
2016Sep 30
2016Jun 30
2016Closing number of MobiKEY subscribers 11,649 18,270 17,883 17,344 16,800 Revenue per MobiKEY subscriber $391 $389 $388 $383 $383 MobiKEY subscription revenue 1 $1,347 $1,759 $1,702 $1,639 $1,591 Other recurring revenue and services 1 $0 $152 $163 $169 $169 Total recurring revenue and services 1 $1,347 $1,911 $1,865 $1,808 $1,760
1 Figures are in thousands Earnings before interest, taxes, depreciation amortization, and stock-based compensation (Adjusted EBITDA) during the first quarter of 2017 amounted to approximately $16,000 compared to $278,000 in Q2 2016.