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QYOU Media (TSXV:QYOU) announced its financial results for the quarter ended September 30, 2018 with the company highlighting an revenue increase of 13 percent as compared to its prior year quarter. As quoted in the press release: Financial Highlights for the Quarter: For the three months ending September 30, 2018, revenues increased to $1,712,703 compared …
QYOU Media (TSXV:QYOU) announced its financial results for the quarter ended September 30, 2018 with the company highlighting an revenue increase of 13 percent as compared to its prior year quarter.
As quoted in the press release:
Financial Highlights for the Quarter:
- For the three months ending September 30, 2018, revenues increased to $1,712,703 compared to revenues of $1,514,938 for the three months ended September 30, 2017, an increase of 13%.
- Net Loss decreased 2% to $1,308,123 for the three months ended September 30, 2018, as compared to $1,336,054 for the three months ended September 30, 2017.
- Cash as at September 30, 2018 was $2,622,110 compared to $1,069,248 as at June 30, 2018, representing an increase of $1,552,862.
QYOU Media’s CEO, Curt Marvis, stated, “The conclusion of Q1 of fiscal year 2019 marks the beginning of our transition into an ad-based revenue model around our owned and operated content channels and formats. As we rapidly expand our audience reach in India and via our esports programming we plan to leverage direct ad sales, sponsorships and influencer driven marketing programs to drive revenue growth. While these transitions take time, we remain confident in driving stronger viewership and revenue growth amid an expanding portfolio of channels and formats around the world.”