CALGARY, Alberta, Nov. 13, 2017 (GLOBE NEWSWIRE) — GINSMS Inc. (TSXV:GOK) (the “Corporation”) has announced its financial results for the third quarter and nine months ended September 30, 2017.
The complete financial results for GINSMS are available at www.sedar.com. Highlights include:
- Revenue of $1,897,881 and $5,426,879 for the three-month and nine-month periods ended September 30, 2017 respectively as compared to $1,473,341 and $4,814,174 for the three-month and nine-month periods ended September 30, 2016, respectively.
- Gross Profit of $133,203 and $568,452 for the three-month and nine-month periods ended September 30, 2017, respectively, as compared to gross profit of $287,485 and $792,654 for the three-month and nine-month periods ended September 30, 2016, respectively.
- Operating expenses and finance costs decreased from $666,239 and $1,870,997 for the three-month and nine-month periods ended September 30, 2016, respectively to $300,313 and $1,386,157 for the three-month and nine-month periods ended September 30, 2017, respectively.
- Net loss of $166,997 and $817,658 for three-month and nine-month periods ended September 30, 2017 as compared to a net loss of $377,237 and $1,077,652 for three-month and nine-month periods ended September 30, 2016, respectively.
- The cloud-based application-to-person messaging service (the “A2P messaging”) that was introduced in March 27, 2014 has generated revenue of $1,610,352 for the three-month period ended September 30, 2017.
Selected Profit and Loss Information
|A2P Messaging Service||1,610,352||1,211,177||4,582,962||4,100,354|
|Software Products & Services||287,529||262,164||843,917||713,820|
|Cost of sales ($)|
|A2P Messaging Service||1,460,254||1,003,415||4,216,796||3,480,602|
|Software Products & Services||304,424||182,441||641,631||540,918|
|Gross profit ($)|
|A2P Messaging Service||150,098||207,762||366,166||619,752|
|Software Products & Services||(16,895||)||79,723||202,286||172,902|
|A2P Messaging Service||9.3||%||17.2||%||8.0||%||15.1||%|
|Software Products & Services||(5.9||)%||30.4||%||24.0||%||24.2||%|
|Adjusted EBITDA(1) ($)||2,346||(103,129||)||(215,252||)||(304,517||)|
|Adjusted EBITDA margin||0.1||%||(7.0||)%||(4.0||)%||(6.3||)%|
|Net loss ($)||(166,997||)||(377,237||)||(817,658||)||(1,077,652||)|
|Net loss margin||(8.8||)%||(25.6||)%||(15.1||)%||(22.4||)%|
|Loss per share ($)|
- (1) Adjusted EBITDA is a non-IFRS measure which does not have any standardized meaning under IFRS. Adjusted EBITDA is related to cash earnings and is defined for these purposes as earnings before income taxes, depreciation and amortization (in both cost of sales and general and administration expenses), interest expenses, the accretion on obligations. Adjusted EBITDA also excludes certain non-recurring or non-cash expenditure. This non-IFRS measure is not recognized under IFRS and accordingly, shareholders are cautioned that this measure should not be construed as an alternative to net income determined in accordance with IFRS. The non-IFRS measure presented is unlikely to be comparable to similar measure presented by other issuers. The Corporation believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Corporation can use to fund working capital requirements, service interest and principal debt repayment and fund future growth initiatives..
GINSMS is a mobile technology and services company focusing on 2 areas namely its A2P Messaging Service and its Software Products and Services. GINSMS operates a cloud-based A2P messaging service that allows the termination of SMS to mobile subscribers of more than 200 mobile operators globally. GINSMS also develops and distribute innovative software products and services for mobile operators and enterprises and has successfully deployed more than 100 solutions worldwide. GINSMS has offices in China, Singapore, Hong Kong, Malaysia and Indonesia.
For further information, please contact:
Joel Chin, CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.