• Press Releases


    Total Third Quarter Revenue up 57%, Advertising Revenue up 150% year on year, record quarterly EBITDA.

    TORONTO, CANADA November 28, 2017 – YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the leading secure digital media management and distribution company, today announced its results for the third quarter ended September 30, 2017.

    Consolidated revenue for Q3 was $1,978,395, 57% higher than the same period in 2016, with normalized EBITDA of $378,927, a 312% increase from the same period in 2016. Year to date consolidated revenue of $5,745,192 was 52% higher than 2016, with a normalized EBITDA of $801,392 compared to a normalized EBITDA loss of $707,805 in 2016. This represented a 76% flow through of incremental sales to normalized EBITDA.

    Advertising quarterly revenue was $1,283,127, up 150% over the same period in 2016. Year to date Advertising revenue of $3,532,688 was 102% ahead of 2016. The increase in revenue was primarily the result of significant new clients using YANGAROO for the first time and continued growth by existing customers.

    The Entertainment Division’s Q3 revenue was $695,268, down 7% over 2016 and down 13% over the previous quarter, as a result of seasonal differences in the Awards Management platform. The recognition of revenue from individual award shows within a quarter created quarterly variances.

    In the quarter ended September 30, 2017, the Company’s normalized EBITDA was $378,927, an increase of $557,880 over same period in 2016 and $76,975 over Q2. The Company continues to manage expenses, with fixed cash costs declining over the prior quarter.

    “We are very pleased with yet another record normalized EBITDA quarter of $379k, bringing the year to date to $801k,” said Gary Moss, President and CEO of YANGAROO. “The Company recorded a one-time, non-cash restructuring charge of $429k in the quarter. This will be paid out over 22 months, which commenced August 2017, but has the immediate impact of reducing fixed costs by approximately $250k annually going forward. The advertising sales, year to date growth rate of 102%, bodes well as we work towards our stated market share goal of 10% of the North American advertising distribution market.”

    Total operating expense for the quarter ended September 30, 2017 was $2,085,729 (including non-cash items totaling $572k), 40% higher than the previous year. The increase was primarily due to a one-time restructuring costs of $429k incurred in the quarter and higher bonus accrual in Q3. The loss from operations was $107,334, improving from a loss of $224,742 in Q3 2016. Excluding the impact of non-cash and non-operating costs, the third quarter of 2017 had positive normalized EBITDA of $378,927.

    As at November 17, 2017, the Company had a cash balance of $1,363,126 and working capital of $2,068,335.

    Summary of operating results for the periods ended September 30th:

    $CDN Nine Months Third Quarter
      2017 2016 2017 2016
    Revenue 5,745,192 3,767,476 1,978,395 1,262,709
    EBITDA (loss) 128,277 (844,578) (164,077) (182,133)
    Normalized EBITDA (loss) 801,392 (707,805) 378,927 (178,953)
    Net loss for the period (11,265) (974,920) (215,711) (228,716)
    Basic income (loss) per share (0.00) (0.02) (0.00) (0.00)
    Diluted income (loss) per share (0.00) (0.02) (0.00) (0.00)

    Please note, all currency in this press release is denoted in Canadian dollars.

    The full text of the financial statements and Management Discussion & Analysis is available at http://www.yangaroo.com and at http://www.sedar.com.

    About YANGAROO:

    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. For further information, please contact Gary Moss at 416-534-0607 ext.111 or visit http://www.yangaroo.com.


    For YANGAROO Investor Inquiries:

    Gary Moss
    Phone: (416) 534-0607 ext.111
    [email protected]


    Cautionary Note Regarding Forward-looking Statements

    This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes.

    Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of YANGAROO, that may cause the actual results, level of activity, performance or achievements of YANGAROO to be materially different from those expressed or implied by such forward looking statements, including but not limited to: the use of proceeds of the offering, receipt of all necessary approvals of the offering, general business, economic, competitive, political and social uncertainties; negotiation uncertainties and other risks of the technology industry. Although YANGAROO has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

    Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause YANGAROO’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither YANGAROO assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.