Digital Asset Management Company MediaValet Reports Q1 Fiscal Results

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.

Click here to read the full press release.