SOURCE: MediaValet, Inc.

MediaValet

November 03, 2015 08:00 ET

MediaValet Reports 2015 Third Quarter Results

VANCOUVER, BC--(Marketwired - November 03, 2015) -

  • Revenue continues triple digit growth, increasing 176% year-over-year
  • Annualized Recurring revenue exceeds $900,000, increasing 131% year-over-year
  • Senior Inside Sales and Marketing teams now hired, trained and executing
  • Development of new Cloud-based publishing service, SkyView™, has been completed, enabling seamless integrations with ecommerce, content management, and social media platforms
  • One of Canada's largest retailers was the first to select and implement SkyView™ with their ecommerce solution

MediaValet Inc. (TSX VENTURE: MVP) (the Company), a leading provider of cloud-based digital asset management software, is pleased to report its results for the third quarter of 2015.

Summary of Quarterly Results from Continued Operations (Unaudited)

  Three months  Three months  Nine months  Nine months  
  ended  ended  ended  ended  
  Sept 30'15  Sept 30'14  Sept 30'15  Sept 30'14  
Revenue $ 304,913  $ 110,618  $ 705,325  $ 302,661  
Net loss $ (851,295 )$ (779,502 )$ (2,348,558 )$ (1,825,974 )
Net loss per share $ (0.01 )$ (0.01 )$ (0.03 )$ (0.04 )
Total assets       $ 1,983,878  $ 1,840,687  

"We've delivered another record quarter of sales and made tremendous strides executing our strategic plan in the third quarter of 2015, "commented David MacLaren, President & CEO of MediaValet. "As we enter our fourth quarter and look towards 2016, we do so with confidence and great anticipation."

Mr. MacLaren continued, "With Sales and Marketing now in place and product development accelerating at a rapid pace, along with a strong and loyal customer base that includes many of the world's largest brands, we're well positioned to capitalize on the rapidly growing multi-billion-dollar digital asset management market."

Total revenue for the third quarter ending September 30, 2015 increased 176% over 2014 to $304,913 and 133% for the nine months ending September 30, 2015 over 2014 to $705,325. The Company's highest revenue quarter to date was driven by increasing brand awareness, new partnerships, and the ongoing success of version 3.0.

Net loss for the quarter was $851,295 compared $779,502 in 2014 and $2,348,558 for the nine months ending September 30, 2015 compared to $1,825,974 in 2014. The increased loss during both periods was a direct result of the Company's increased investment in sales, marketing, product development, and overall operations.

MediaValet's full financial statements and related MD&A are now available on SEDAR.

About MediaValet, Inc.

MediaValet stands at the forefront of the emerging cloud-based digital asset management industry. Focused on enterprise cloud software, with an in-depth understanding of media production, and built exclusively on Microsoft's cloud platform, Azure, MediaValet is uniquely equipped to meet the digital asset management needs of any organization, no matter its size, industry or location. Cutting edge technology, exceptional product design, and unlimited customer service are at the core of MediaValet's DNA - ensuring exceptional customer and user experiences are delivered at all times.

"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."

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