ID Watchdog Announces Results for First Quarter 2017

ID Watchdog (TSXV:IDW) has announced its results for the first quarter ended March 31, 2017./
As quoted in the press release:

First Quarter 2017 Highlights:

• Revenue: Total revenue and employee benefit channel revenue totaled $3,535,300 and $3,162,588 for the first quarter of 2017, increases of 37.4% and 41.7%, respectively, over the first quarter of 2016.
• Gross Profit: Gross profit increased by 584,084, or 30.6%, from $1,906,856 during the first quarter of 2016 to $2,490,943 during the first quarter of 2017.  The gross margin rates for the first quarter of 2017 and 2016 were 70.5% and 74.1%, respectively.
• Adjusted EBITDA:  For the first quarter of 2017, Adjusted EBITDA decreased by $119,043 to $212,760 as compared with $331,803 for the similar period in 2016. Adjusted EBITDA margins for the first quarter of 2017 and 2016 were 6.0% and 12.9%, respectively.
• Cash Balance: Cash totaled $1,540,681 as of March 31, 2017.

Second Quarter 2017 Guidance

	Actual Results   Three Months Ending June 30, 2016		Guidance Three Months Ending June 30, 2017		Change vs. 2016
Employee Benefit Revenue	$2,241,374		$3,250,000 to $3,350,000		45% to 50%
Total Revenue	$2,552,390		$3,600,000 to $3,700,000		41% to 45%
Gross Margin	$1,954,695		$2,575,000 to $2,275,000		32% to 37%
Gross Margin %	76.6%		71.5% to 72.3%		-5.1%–4.3%*
Operating Income	$190,859		$85,000 to $210,000		-55% to 10%
Adjusted EBITDA	$476,229		$175,000 to $300,000		-63% to -37%
Adjusted EBITDA %	18.7%		4.9% to 8.1%		-13.8%–10.6%*
* Change in percentage

ID Watchdog CEO, Michael Greene, stated, “We delivered a strong start to 2017 and for the second quarter of 2017, we are anticipating sequential Employee Benefit Channel revenue growth ranging from 2.8% – 5.9% and continued increases in our direct website subscriptions, which should drive sequential total revenue growth of 1.8% – 4.7%.”

Click here to read the full press release.