You On Demand's (YOD -7.7%) Q1 cost of revenue was $876K, more than 6x revenue of $138K. That translates into a gross loss of $738K.
Opex fell 22% Y/Y to $1.98M; You attributes this to overhead expense control and its revenue-sharing strategy with content partners.
The Chinese VOD services firm ended Q1 with $18M in cash on its balance sheet. Liabilities included a $3M convertible promissory note.
Q1 results, PR