QYOU Media Reports Year Over Year Revenue Increase From $208K in Q1 2021 to $5.2 Million in Q1 2022
QYOU Advises that Q2 2022 Income Will Be An All Time Quarterly File
TORONTO, MUMBAI and LOS ANGELES, Might 30, 2022 /PRNewswire/ – QYOU Media Inc., (TSXV: QYOU) (OTCQB: QYOUF) an organization working in India and the US producing and distributing content material created by social media stars and digital content material creators, is reporting last monetary outcomes for the quarter ended March 31, 2022. Highlights embrace as follows:
File Breaking Quarterly and YOY Income Development: For the three months ended March 31, 2022 income was $5,234,680 representing a yr over yr improve of 2410% and the very best Q1 income mark in firm historical past.
Steerage: The Firm is formally offering steerage for Q2 2022 advising that income is predicted to be an all time quarterly document
Seasonality: The Firm’s strains of enterprise (primarily advert gross sales and influencer advertising and marketing) are topic to seasonality such that Q1 is often the bottom income and This fall the very best, all else being equal.
Improved Adjusted EBITDA*: For the three months ended March 31, 2022 in comparison with similar interval prior yr, adjusted EBITDA loss was $662,270 representing a lower of $981,074 or 60% pushed by the income development offset by larger working bills associated to the expansion of the enterprise throughout all working enterprise models.
Web Loss: Web loss for the quarter is $2,308,200, a lower of 10% or $244,689 pushed by income development throughout all enterprise models. Along with the EBITDA loss, the Web loss contains revenue tax provisions of $166,802 and non-cash losses from share based mostly compensation, advertising and marketing credit and amortization of $1,479,128.
Money Steadiness: The Firm concluded the three months ended March 31, 2022 with money of $5,082,637 (December 31, 2021 $6,548,890).
QYOU Media CEO and Co-Founder, Curt Marvis commented, “What a distinction a yr makes could be an apt description for the astounding distinction in our yr over yr development from 2021 to 2022. Income development within the present quarter is predicted to once more be strongly optimistic on 1 / 4 over quarter foundation and much more vital once more on a yr over yr foundation. Q2 2022 is at present anticipated to interrupt all earlier quarterly income information for the corporate and we count on this pattern to proceed all through 2022. I’m tremendous happy with what all the staff has achieved and as I at all times say…the perfect is but to come back.”
Notice on Adjusted EBITDA:
To complement our consolidated monetary statements, that are ready and offered in accordance with Worldwide Monetary Reporting Requirements (“IFRS”), we current Earnings Earlier than Curiosity Tax Depreciation and Amortization (“Adjusted EBITDA”) which is a non-IFRS monetary measure. The presentation of non-IFRS monetary measurement should not supposed to be thought of in isolation from, or as an alternative choice to, or superior to, working loss or web revenue (loss) or some other efficiency measures derived in accordance with IFRS or as an alternative choice to web money offered by working actions or some other measures of money flows or liquidity.
We outline earnings earlier than curiosity, taxes, depreciation and amortization (“Adjusted EBITDA”) as income minus working bills excluding non-cash working bills of stock-based compensation, advertising and marketing credit, depreciation and amortization (curiosity and taxes should not included within the Firm’s working bills). Adjusted EBITDA is used as an inner measure to judge the efficiency of our working segments. We imagine that details about this non-IFRS monetary measure assists traders by permitting them to judge adjustments in working outcomes of our enterprise separate from non-operational components that have an effect on working revenue (loss) and web revenue (loss), thus offering insights into each operations and different components that have an effect on reported outcomes. A limitation of the usage of
Adjusted EBITDA as a efficiency measure is that it doesn’t replicate the periodic prices of sure amortizing belongings utilized in producing income in our enterprise. Moreover, this measure could range amongst corporations; thus Adjusted EBITDA as offered herein might not be corresponding to equally titled measures of different corporations.
This press launch comprises sure forward-looking statements inside the that means of relevant securities legal guidelines. Phrases resembling “expects”, “anticipates” and “intends” or related expressions are supposed to establish forward-looking statements. The forward-looking statements contained herein could embrace, however should not restricted to, info in regards to the completion of future investments, the approval of the Change of the investments, the approval of the Reserve Financial institution of India of future investments, the anticipated use of proceeds from the funding, and statements regarding the enterprise and future actions of QYOU. These forward-looking statements are based mostly on QYOU’s present projections and expectations about future occasions and different components administration believes are acceptable. Though QYOU believes that the assumptions underlying these forward-looking statements are cheap, they could show to be incorrect, and readers can’t be assured that the providing and the closing thereof can be in line with these forward-looking statements. Precise outcomes might differ materially from these projected within the forward-looking statements because of quite a few components, together with sure danger components, a lot of that are past QYOU’s management. Extra dangers and uncertainties concerning QYOU are described in its publicly-available disclosure paperwork, filed by QYOU on SEDAR (www.sedar.com) besides as up to date herein. The forward-looking statements contained on this information launch symbolize QYOU’s expectations as of the date of this information launch, or as of the date they’re in any other case said to be made, and subsequent occasions could trigger these expectations to alter. QYOU undertakes no obligation to publicly replace or revise any forward-looking statements, whether or not because of new info, future occasions or in any other case, besides as could also be required by legislation.
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Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.
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SOURCE QYOU Media Inc.