YANGAROO INC (YOOIF) stock dipped -11.95% and closed at 0.17 on Tuesday. The stock opened the session at $0.17 and touched its highest price point at $0.19. Its recent trading capacity is 69450 shares versus to its average trading volume of 33663 shares. The company’s stock’s lowest price point for the session stood at $0.17.YOOIF traded as low as $ 0.08 in the past 52 weeks, and shares hit its peak level to $0.31.
YANGAROO Inc. (TSX-V:YOO) (OTC:YOOIF), the leading secure digital media management and distribution company, reported its results for the first quarter ended March 31st, 2018.
Revenue for Q1 was $1,949,090, 12% higher than in the same period in 2017 and 2% higher than Q4 2017. Normalized EBITDA for Q1 of $179,566 increased by 49% over the same period in 2017 and increased by 19% over the previous quarter. Net income in Q1 was $84,971, 159% improvement over Q1 2017 and 4% decrease over Q4 2017.
Advertising revenue of $1,229,455 in Q1, marked a 20% increase over the same period in 2017 and 4% increase over the previous quarter. The increase in revenue was a result of continuous growth in new customers and increased sales volumes with existing customers.
Entertainment revenue remains flat. Revenue in Q1 2018 was $719,635, up 1% over Q1 2017 and down 1% over previous quarter. Higher awards management revenue was recorded in the quarter but offset by a general decline in volume of video delivery and subscription fees.
Gary Moss, President and CEO of YANGAROO said “Starting in the second quarter of last year, the Company initiated a change of leadership and rebuilding of the sales team in the Advertising business”. “Additionally, the mandate of the team was adjusted to focus on larger customer opportunities and during the last half of 2017, the team started to build a pipeline of target deals. Closing sales to larger customers is a more lengthy process. During the first quarter, this new pipeline started to deliver meaningful new customer wins. The Company is confident that the flow of new customer wins from the team will continue into the future and will support the growth of Advertising revenues especially in the last half of 2018.”
Total operating expenses for the quarter ended March 31, 2018 was $1,901,097, 14% higher than the previous year and 5% higher than the previous quarter. Income from operations in Q1 was $47,993, 28% lower than the previous year and 53% lower than the previous quarter. The changes were primarily due to higher value of stock options granted and salary adjustments taken place in Q1 2018. Excluding the impact of non-cash and non-operating costs, the first quarter of 2018 had a normalized cash flow of $179,566.
Category – Technology
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