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Digital Asset Management Company MediaValet Reports Q1 Fiscal Results
May. 14, 2019 09:05AM PST
Emerging TechnologyMediaValet (TSXV:MVP), digital asset company powered by artificial intelligence has announced its first quarter financial results. The company reported C$1 million in revenue, growing at a 62 percent clip compared to the same time period lat year. MediaValet reported C$0.62 million EBITDA loss while reporting C$0.62 in cash for the quarter. As quoted in the …
MediaValet (TSXV:MVP), digital asset company powered by artificial intelligence has announced its first quarter financial results. The company reported C$1 million in revenue, growing at a 62 percent clip compared to the same time period lat year. MediaValet reported C$0.62 million EBITDA loss while reporting C$0.62 in cash for the quarter.
As quoted in the press release:
Key Financial Metrics:
Grew revenue to $1.00 million in Q1 2019, up 62% from $0.62 million in Q1 2018, and up 18% sequentially from Q4 2018. As over 90% of revenue is from annual subscriptions, the growth reflects the increasing deferred revenue and ARR from customer acquisition and retention.
Returned to 80%+ Gross Margins following migration to MediaValet V4 in September 2018, at 85% for Q1 2019, up from 80% in Q1 2018 and 79% for fiscal 2018. The improved margin is due to completion of the migration to V4, increased sales volume, improved operating efficiencies, and new paid feature add-ons.
