Route1 Announces Q2 2017 Financial Results

- August 23rd, 2017

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 … Continued

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 dollars
Jun 30
2017
Mar 31
2017
Dec 31
2016
Sep 30
2016
Jun 30
2016
Closing 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.

Click here to read the full press release.

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