SOURCE: rVue Holdings, Inc.

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November 15, 2013 06:55 ET

rVue Holdings, Inc., Third Quarter 2013 Results

CHICAGO, IL--(Marketwired - November 15, 2013) - rVue Holdings, Inc. (OTCBB: RVUE), the premier advertising technology platform for digital out of home media, announced its financial results for the quarter that ended September 30, 2013.

Summary Results for Third Quarter of 2013

Total Revenue: For the quarter ended in September 30th, 2013 total revenue was $147.2K, up $33K (or +29%) from Q3 2012, but down $55.7K (or -28%) from Q2 2013.

For the nine months ended September 30, 2013 total revenue was $487.7K -- up $134.6K (or +38%) for the same nine months in 2012.

Core Revenue: This is rVue's key source for growth and where a majority of its time and energy is spent. Core revenue for the quarter ended on September 30, 2013 was $111.3K -- up $93.0K (or 508%) vs. Q3 2012, but down $55.7K (or -33.3%) vs. Q2 '13.

For the nine months ended September 30, 2013 core revenue was $357.6K -- up $311.5K (or +675%) vs. same nine months in 2012.

Non-Core Revenue: For Q3 2013 non-core revenue was $35.9K -- down $60K vs. Q3 '12, and flat vs. Q2 '13.

For the nine months ended September 30, 2013 non core revenue was $130.1K -- down $176.9K or (-58%) from the same nine months in 2012.

Total Expenses: For Q3 2013 total expenses were $415.9K compared with $1,903.5K in Q3 '12 and $544.3K in Q2 '13, reduction of $1,487.6K and $128.4K respectively. 

For the nine months ended September 30, 2013 total expenses were $2,349K, down $1,589.3K (or 40%) for the same period in 2012.

Net Loss: For Q3 2013 rVue's net loss was $268.7K or down $1,520.6K (-84%) from Q3 '12. It was also down $72.6K (or -21%) vs. Q2 '13.

For the nine months ended September 30th, 2013 rVue's net loss was $1,861.7K down $1,723.9K (or -48%) from the same period in 2012.

Mark Pacchini (President and CEO) said: "The results from the past two quarters show that costs are under control and better aligned with revenue. This is certainly a strong foundation to build off of; however the team fully recognizes revenue growth is essential."

Pacchini also commented: "We remain focused on new business, and in just the past six weeks have met with 19 potential clients. And while these meetings have not produced significant revenue, the team remains optimistic because some of those sessions and sessions with existing clients have centered on plans for 2014."

Pacchini also noted: "Most importantly, we're getting positive feedback from both existing and new clients. Here are two examples.

'We were already working with other DOOH networks, but our team wanted rVue to handle them so all networks go through the same source.'

Associate Media Director
Advertising Agency

'rVue is filling a definite gap that we've recognized in the DOOH space.'

Director of Product Development
Interactive Agency

"Feedback like the above tells us rVue is well positioned for the future (one source for planning, buying, trafficking, creative clearance, post analyzing, and invoicing multiple DOOH networks) and can capture share in the fast growing DOOH category. But we must remember, like all emerging digital options and new technology we are dealing with a long adoption curve. This is a marathon not a sprint. The revenue line may look more like a roller coaster than a hockey stick for the near future.

"With that said, we're confident that we have the technology, connections and tenacity to compete."

Contact Information

  • Dean Peterson
    312-219-8835