Elephant Talk Communications (ETAK) announces preliminary Q3 revenue of $5.2M (-22.4% Y/Y and +4% Q/Q). The lone analyst covering the company had expected $7.0M.
Mobile and security solutions revenue increased 12% Q/Q to $5M. the remainder came from the company's legacy landline business.
Total margin increased by 17% Q/Q to $4.1M. Adjusted EBITDA of $85K improved by $868K Q/Q.
CEO Steven van der Velden: "The continued increase of our mobile services business has further improved our Adjusted EBITDA and with the continued building of our sales pipeline with key mobile and security clients, we remain confident that we will achieve positive Adjusted EBITDA status by year end."