EDITOR: | December 1st, 2015 | 1 Comment

Snipp’s Q3 Delivers Revenue and Gross Margin

| December 01, 2015 | 1 Comment
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MoneyIn yesterday’s article on the global brand and loyalty market, we observed that Snipp Interactive Inc. (TSXV: SPN), would announce its Q3 2015 results after the market close, and that you should judge management by its own data.

That data turned out to be pretty good. The press release is here.

Q3 2015 revenue was CAN$4.75 million (US$3.63 million), and net income was CAN$82,833 (US$63,294). That revenue was a 445% increase over the same quarter in the prior year. Gross margin was over 77%.

Snipp also reported an adjusted EBITDA number but since it’s not an actual IFRS term we will stay away from it. The “adjustments” relate to the June 2015 acquisition of Hip Interactive, which are one-time hits to cash flow.

The balance sheet shows cash and equivalents of CAN$9.0 million (US$6.7 million), along with accounts receivable of CAN$5.7 million (US$4.3 million), with no outstanding bank debt. That provides a solid foundation for growth.

That growth will come in part from the sales pipeline which is over CAN$20M, with 56 new programs and 3 New Master Service Agreements having been signed as well.

Now the company has to focus on closing on new sales, maintaining the gross margin, controlling costs, and most importantly, managing the company on a year to year basis, not quarter to quarter.

For more information dial into Snipp’s conference call on Thursday Dec 3, 2015, at 10:00 A.M. New York time.


Peter Clausi

Editor:

Mr. Clausi is an experienced investment banker, executive and director. A graduate of Osgoode Hall Law School called to Ontario's bar in 1990, Mr. Clausi ... <Read more about Peter Clausi>


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Comments

  • Tracy Weslosky

    Did I read this right? Snipp put out revenue that was 445% increase over the same quarter in the prior year — and whose gross margin was over 77%? Thank you for the update Peter.

    December 1, 2015 - 10:48 AM

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