VoodooVox Announces 2014 First Quarter Financial Results
TORONTO, ONTARIO–(Marketwired – May 22, 2014) –
VoodooVox Inc. (CSE:VVX) (“VoodooVox” or the “Company”), a leading provider of mobile advertising solutions, today announced its first quarter (Q1) financial results for the three months period ended March 31, 2014.
“We made a number of strategic investments during the past few months, which included expanding our sales team and broadening our revenue streams, and we are delighted to see another quarter of revenue growth as the result of these important initiatives,” said Bruce Howard, CEO of VoodooVox. “We are more confident than ever in the future of our company. Our superior technology, accompanied by our broad revenue model and strong balance sheet, positions us favourably to further accelerate our growth and create significant shareholder value in upcoming quarters.”
First Quarter Financial Highlights
- Total operating revenue grew by 36% to $1.04 million for Q1 2014, compared to $0.77 million for Q1 2013.
- Mobile advertising revenue grew by 72% to $0.71 million for Q1 2014, compared to $0.41 million in Q1 2013.
- Loss from operations of $0.92 million for Q1 2014, compared to $0.98 million in Q1 2013.
- Net loss and comprehensive loss of $0.68 million for Q1 2014, compared to $1.71 million in Q1 2013.
- Basic and diluted loss per share of $0.01 in Q1 2014, compared to loss per share of $0.40 in Q1 2013.
- Total cash position of $2.50 million as at March 31, 2014, compared to $0.14 million as at December 31, 2013.