Prodigy Ventures Announces Q3 2017 Financial Results

Prodigy Ventures (TSXV:PGV) has announced its Q3 2017 financial results for the quarter ended September 30, 2017.
As quoted in the press release:

“Prodigy continued its profitable growth in the third quarter,” said Tom Beckerman, Prodigy’s CEO. “Expense increases relating to sales and advisory services impacted our net income for Q3, but our increased investment in sales positions us well for profitable growth. The Company has taken measures to reduce advisory expenses.”
Year-to-Date 2017 Financial Results

• Revenue for the nine-month period ended September 30, 2017 totalled $9,133,449 compared to $8,221,321 for the nine months ended September 30, 2016, an increase of 11.1%.
• Gross profit for the nine-month period ended September 30, 2017 of $2,802,533 as compared to $2,754,222 for the nine-month period ended September 30, 2016, an increase of 1.8%.
• Operating Expenses for the nine-month period ended September 30, 2017 of $2,315,180 as compared to $1,702,494for the nine-month period ended September 30, 2016, an increase of 36.0%, primarily due to increases in sales staff costs and professional fees.
• Net Income for the nine-month period ended September 30, 2017 totalled $342,219 as compared to $756,706 for the nine-month period ended September 30, 2016, a decrease of 54.8%.
• The Company had working capital of $2,211,283 as of September 30, 2017 compared to $1,952,165 as of December 31, 2016.

Third Quarter 2017 Financial Results

• Revenue for the three-month period ended September 30, 2017 totalled $2,962,484 compared to $2,816,743 for the three months ended September 30, 2016, an increase of 5.2%.
• Gross profit for the three-month period ended September 30, 2017 of $855,805 as compared to $889,132 for the three-month period ended September 30, 2016, a decrease of 3.7%.
• Operating Expenses for the three-month period ended September 30, 2017 of $771,052 as compared to $653,251 for the three-month period ended September 30, 2016, an increase of 18.0%.
• Net Income for the three-month period ended September 30, 2017 totalled $56,534 as compared to $167,550 for the three-month period ended September 30, 2016, a decrease of 66.3%.

Click here to read the full press release.