Route1 Announces Q2 2017 Financial Results

Cyber Security Investing

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 dollarsQ2 2017Q1 2017Q4 2016Q3 2016Q2 2016
Revenue
Recurring revenue and services1,3471,9111,8651,8081,760
Devices and appliances24302122151
Other00021
Total revenue1,3711,9411,8862,0311,812
Cost of revenue298335338448341
Gross profit1,0731,6061,5481,5831,471
Operating expenses1,1511,2891,3561,2431,299
Operating (loss) profit 1(78)317192340172
Total other expenses 215710910134(27)
Comprehensive net (loss) gain(235)20891306199
1Before stock based compensation
2Includes 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 dollars
Jun 30
2017
Mar 31
2017
Dec 31
2016
Sep 30
2016
Jun 30
2016
Closing number of MobiKEY subscribers11,64918,27017,88317,34416,800
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
1Figures 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.

Click here to read the full press release.

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