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Sito Mobile +3.7% as revenues nearly double to hit record

Mar. 21, 2018 5:01 PM ETSITO Mobile, Ltd. (STTO) StockBy: Jason Aycock, SA News Editor1 Comment
  • Sito Mobile (OTC:SITO) has gained 3.7% in postmarket trading after posting Q4 earnings where net loss widened but the company posted record revenues and strong bookings in the core media business.
  • Net loss grew to $6.9M from a year-ago loss of $1.5M, largely due to a $3.5M expense for litigation settlement and a $2.2M expense tied to bonus accrual.
  • Revenue nearly doubled, meanwhile, to $14.7M from $7.5M, as the company grew its sales force and increased campaigns.
  • EBITDA came to -$38,700 vs. a prior-year -$531,700, and beating expectations for -$320,000.
  • Cash and equivalents came to $3.6M at year-end, vs. a prior-year $8.7M. Cash used in operations for the 12 months was $3.1M. Subsequent to quarter's end, the company closed a $14.8M equity offering.
  • Press release

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