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YANGAROO REPORTS THIRD QUARTER RESULTS
Revenue up 38% Year over Year and 11% Quarter over Quarter, EBITDA Loss down 59%
TORONTO, CANADA November 30, 2015 – YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the leading secure digital media management and distribution company, today announced results for the third quarter ended September 30, 2015. Revenue totaling $1.38 million was 38% higher than the same period in 2014 and 11% higher than the previous quarter. Advertising Division sales increased significantly with increases of 92% over the same period in 2014. Entertainment division remains solid and stable with 9% increase over previous year. September was a record breaking month with total sales of $589k driven by advertising sales of $307k, a new single month high water mark. Q3 adjusted normalized EBITDA loss was $166,229 down 59% from same period in 2014.
Overall revenue for the nine months ended September 30, 2015 was $3,878,955, up 41% over the same period in 2014 with advertising sales up 100% over the previous year.
Business progress has been very positive in 2015 with 82 new advertising clients signed so far this year, a music licensing deal with the IASCA in Ireland, a music video partnership with IMD Fastrax in the UK, and a YANGAROO Awards deal with the Hollywood Foreign Press Association to power the 2016 Golden Globe Awards.
“We continue to see significant year-on-year growth in all lines of business, as we progress towards our goal of profitability in 2016,” said Gary Moss, President and CEO of YANGAROO. “We have signed 82 new advertising clients so far this year, meeting our goal of 80 – 100 for the current fiscal period. We are also currently testing and onboarding significant new potential clients and brands, each of which could result in material incremental revenue in 2016. In addition, we will close the current year with over 70 active proposals out to prospective new advertising clients. Our fixed costs remain largely unchanged quarter to quarter and we do not expect significant increases in 2016.”
Summary of operating results for the periods ended September 30, 2015:
|$CDN||Nine Months||Third Quarter|
|Adjusted EBITDA (loss)||(1,022,101)||(1,497,100)||(147,009)||(472,004)|
|Adjusted normalized EBITDA (loss)||(941,048)||(1,161,733)||(166,229)||(406,772)|
|Net gain (loss) for the period||(1,129,200)||(1,796,085)||(193,933)||(497,885)|
|Gain (loss) per share (basic & diluted)||(0.02)||(0.04)||(0.00)||(0.01)|
|Adjusted EBITDA (loss)||(1,022,101)||(1,497,100)|
|Adjusted normalized EBITDA (loss)||(941,048)||(1,161,733)|
|Net gain (loss) for the period||(1,129,200)||(1,796,085)|
|Gain (loss) per share (basic & diluted)||(0.02)||(0.04)|
|Adjusted EBITDA (loss)||(147,009)||(472,004)|
|Adjusted normalized EBITDA (loss)||(166,229)||(406,772)|
|Net gain (loss) for the period||(193,933)||(497,885)|
|Loss per share (basic & diluted)||0.00||(0.01)|
YANGAROO is a company dedicated to digital media management. YANGAROO’s patented Digital Media Distribution System (DMDS) is a leading secure B2B digital cloud based solution focused on the music and advertising industries. The DMDS solution provides more accountable, effective, and far less costly digital management of broadcast quality media via the Internet. It replaces the physical, satellite and closed network distribution and management of audio and video content, for music, music videos, and advertising to television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform is now 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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Phone: 1 (413) 219-7588
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.