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YANGAROO REPORTS 2014 ANNUAL AND FOURTH QUARTER RESULTS
Annual Revenues up 22%, Q4 Revenues up 42% with Ad Revenues up 106%, Fourth Quarter Cash Flow Positive
TORONTO, CANADA April 21, 2015 – YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the leading secure digital media management and distribution company, today announced its results for the year and fourth quarter ended December 31, 2014.
Revenue for the fiscal year 2014 was $4,266,250, 22% higher than in fiscal 2013. Revenue for the fourth quarter was $1,508,617, 42% higher than the revenue for the same period in 2013 and 50% higher than the previous quarter and was cash flow positive. Advertising revenue led the way with Q4 revenue up 106% over same quarter in 2013. The increase in revenue is primarily the result of YANGAROO Advertising use by the 90 new customers signed during 2014. This usage combined with an element of seasonality in the fourth quarter, contributed to the record quarter.
Growth also continued for music video delivery by the major and independent record labels in the US and Canada as well as revenue received from European partnerships. YANGAROO Awards, also continues to grow, renewing agreements with BET Awards, The Soul Train Awards, The Junos, and others.
In the quarter ended December 31, 2014, the Company’s adjusted EBITDA income was $28,299, compared to a loss of $119,886 for the same period in 2013 and a loss of $472,004 for the quarter ended September 30, 2014. The Company has invested in personnel and technology during the year to drive the growth in the Advertising Division.
“It is very exciting to see the majority of Advertising revenue coming from new clients in the 4th quarter,” said Gary Moss, President and CEO of YANGAROO. “Monetizing our client acquisition efforts has been a focus of the team. While revenue in Q1 of 2015 is expected to be seasonally lower than the prior quarter, the sales from new clients continues to drive comparative growth, with all-time record monthly Advertising revenue in March 2015. In addition, all of the major Canadian broadcasters are now on-line, providing our customers with a comprehensive North American wide digital footprint and an immediate incremental revenue opportunity for YANGAROO.”
Total operating expenses for the year ended December 31, 2014 was $1,653,113 higher than the previous year, primarily relating to additional developers and sales and support staff to support increase in advertising related business. The loss from operations for 2014 was $1,629,504, increasing from $748,151 in 2013 while revenue for the same period increased by $771,760. Total operating expenses for the fourth quarter of 2014 were 27% higher than the same period in fiscal 2013, primarily due to additional staff. The loss from operations was down 82% ($122,978) and revenue was up 42% ($449,136) for the fourth quarter of 2014 compared to the same period in 2013. Excluding the impact of non-cash and non-operating costs, the fourth quarter of 2014 had positive normalized cash flow of $21,401.
Summary of operating results for the years and fourth quarters ended December 31:
|Adjusted EBITDA (loss)||(1,468,801)||(649,084)||28,299||(119,886)|
|Adjusted normalized EBITDA (loss)||(1,140,332)||(309,580)||21,401||29,221|
|Net gain (loss) for the period||(1,794,425)||(1,630,434)||1,660||(2,081,643)|
|Gain (loss) per share (basic & diluted)||(0.038)||(0.074)||0.000||(0.053)|
|Adjusted EBITDA (loss)||(1,468,801)||(649,084)|
|Adjusted normalized EBITDA (loss)||(1,140,332)||(309,580)|
|Net gain (loss) for the period||(1,794,425)||(1,630,434)|
|Gain (loss) per share (basic & diluted)||(0.038)||(0.074)|
|Adjusted EBITDA (loss)||28,299||(119,886)|
|Adjusted normalized EBITDA (loss)||21,401||29,221|
|Net gain (loss) for the period||1,660||(2,081,643)|
|Gain (loss) per share (basic & diluted)||0.000||(0.053)|
YANGAROO is a company dedicated to digital media management. YANGAROO’s patented Digital Media Distribution System (DMDS) is a secure cloud-based platform that provides users the ability to leverage technology; automating dozens of steps to eliminate errors and streamline content delivery efficiently. Content, such as music, music videos, and advertising can be quickly distributed to a network of over 11,000 television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform is the industry standard and powers most of North America’s major awards shows.
YANGAROO has offices in Toronto, New York, and Los Angeles. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: YOOIF.
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The statements contained in this release that are not purely historical are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.