QYOU Advises that Q2 2022 Revenue Will Be An All Time Quarterly Record
TORONTO, MUMBAI and LOS ANGELES, May 30, 2022 /PRNewswire/ – QYOU Media Inc., (TSXV:QYOU) (OTCQB:QYOUF) a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, is reporting final financial results for the quarter ended March 312022. Highlights include as follows:
- Record Breaking Quarterly and YOY Revenue Growth: For the three months ended March 31, 2022 revenue was $5,234,680 representing a year over year increase of 2410% and the highest Q1 revenue mark in company history.
- Guidance: The Company is formally providing guidance for Q2 2022 advising that revenue is expected to be an all time quarterly record
- Seasonality: The Company’s lines of business (primarily ad sales and influencer marketing) are subject to seasonality such that Q1 is typically the lowest revenue and Q4 the highest, all else being equal.
- Improved Adjusted EBITDA*: For the three months ended March 31, 2022 compared to same period prior year, adjusted EBITDA loss was $662,270 representing a decrease of $981,074 or 60% driven by the revenue growth offset by higher operating expenses related to the growth of the business across all operating business units.
- Net Loss: Net loss for the quarter is $2,308,200a decrease of 10% or $244,689 driven by revenue growth across all business units. In addition to the EBITDA loss, the Net loss includes income tax provisions of $166,802 and non-cash losses from share based compensation, marketing credits and amortization of $1,479,128.
- Cash Balance: The Company concluded the three months ended March 31, 2022 with cash of $5,082,637 (December 31, …