UpSnap Announces Q1 2018 Financial Results

UpSnap Inc (CSE:UP), a leading provider of mobile and intent based advertising solutions announced its first quarter financial results for the three month period ended March 31, 2018.

The company had a total operating revenue of $0.8 million for Q1 2018 as compared to $1 million in the same period in the previous year. Its loss from operations was $0.1 million for Q1 2018 as compared to a loss of $0.1 million in Q1 2017.

As quoted in the press release:

First Quarter Financial Highlights

• Revenue from Intentional Direct Mail (“IDM”) was $0.1 million in Q1 2018 compared to $nil in Q1 2017.
• Total gross sales from Intentional Direct Mail (“IDM”) for Q1 2018 was $0.3 million and over 200 IDM customers were added to the platform.
• Total operating cost of $0.9 million for Q1 2018, compared to $1.1 million in Q1 2017, a decrease of 17%

“Our IDM technology solution has garnered significant interest from brands and advertisers and we are excited about the future of this technology,” said Bruce Howard, Chief Executive Officer of UpSnap. “We have taken a number of steps to ramp up spend from this product including a refocused partnership with resellers and the inclusion of a new sales channel. In addition, we are seeing an increase in demand for our legacy mobile DSP through this reseller channel. SMBs continue to show demand for a mobile programmatic offering and we are working to add unique solutions that can address this need.”

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