ChannelAdvisor Announces Preliminary Financial Results for First Quarter 2018

ChannelAdvisor Corporation (NYSE:ECOM), a leading provider of cloud-based e-commerce solutions announced their preliminary financial results for the first quarter of 2018.

According to the company, total revenue is expected to be approximately $31.2 million or $1.4 million above the high end of previous guidance of $29.4 million to $29.8 million.

As quoted in the press release:

Adjusted EBITDA, a non-GAAP measure, is expected to be approximately $0.8 million, or $1.1 million above the high end of the previous guidance range of a loss of $(0.7) million to $(0.3) million. ChannelAdvisor’s adjusted EBITDA estimate includes an expected net loss of $(3.4) million adjusted for interest income of $(0.1) million, as well as depreciation and amortization expenses of $1.5 million, income tax expense of $0.1 million and stock-based compensation expense of $2.7 million. These results are preliminary and unaudited and are subject to change based on the completion of the company’s normal quarter-end review process. As a result, these preliminary results may be different from the actual results that will be reflected in ChannelAdvisor’s consolidated financial statements for the quarter ended March 31, 2018 when they are released.

“Our preliminary analysis of our first quarter performance indicates that revenue and adjusted EBITDA will be above our previous guidance for the first quarter, reflecting solid execution against our plan,” said David Spitz, CEO of ChannelAdvisor. “These anticipated results reflect our continued emphasis on driving revenue growth while improving the efficiency of our business. We look forward to providing final results and additional color on May 10.”

ChannelAdvisor will release its full first quarter 2018 financial results for the quarter ended March 31, 2018 before 8:00 a.m. ET on Thursday, May 10, 2018.

Click here for the full text release.