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Breaking Data Reports 97% Increase in Revenues for fiscal 2018
Jul. 31, 2018 09:40AM PST
Data InvestingBreaking Data (TSXV:BKD), a technology provider of semantic search, machine learning and natural language processing reported financial results for fiscal 2018. The company posted an increase in consolidated revenues of 97 percent for the year ended March 31, 2018. As compared to last year’s figure of US$4,244,095, the company’s consolidated revenue was US$8,363,234. As quoted …
Breaking Data (TSXV:BKD), a technology provider of semantic search, machine learning and natural language processing reported financial results for fiscal 2018.
The company posted an increase in consolidated revenues of 97 percent for the year ended March 31, 2018. As compared to last year’s figure of US$4,244,095, the company’s consolidated revenue was US$8,363,234.
As quoted in the press release:
Breaking Data’s North American Revenue grew by 222%, its United Kingdom revenue grew by 99% and European Revenue (excluding UK) dropped by -7%, this reflects the focus the team has placed on targeting the UK and North American markets.
Breaking Data’s Assets increased to $12.8m USD in 2018 from $1.29m USD in 2017 and reduced its liabilities to $1.61m USD in 2018 from $3.56m USD in 2017. Breaking Data has repaid all debentures and has no long-term debt.
Breaking Data’s consolidated loss from operations excluding non-cash items was split between GIVEMESPORT division with an operating loss of $1,962,655 USD and Breaking Data’s AI division with an operating loss of $1,658,294 USD, totalling a consolidated loss from operations excluding non-cash items of $3,620,949 USD on consolidated revenues of $8,363,234 USD.
GIVEMESPORT in the UK saw its audited annual revenue increase by 82% to £5,912,919 in 2018 from £3,245,465 in 2017. Additionally, GIVEMESPORT saw its fiscal 2018 fourth quarter net advertising revenue increase by 70% in GBP, compared to last year. This is now seven successive quarters of growth for GIVEMESPORT.
Nick Thain, CEO of Breaking Data Corp., said: “We are starting to see the results of integrating the artificial intelligence capabilities of Breaking Data and the digital audience of GIVEMESPORT. Overall 97% year-on-year Revenue Growth to $8.3m USD, Seven Quarters of successive revenue growth, reduced liabilities, increased assets and no long-term debt is a positive first year for the combined company.”
Thain continued, “As a high growth venture company we will continue to look to diversify our revenue and audience into new, exciting and high yielding areas, and continue to adapt to the challenges and changes that our fast-paced industry brings.”