SOURCE: rVue Holdings, Inc.

rVue Holdings, Inc. Logo

August 13, 2015 16:05 ET

rVue Reports Second Quarter 2015 Financial Results

Core Revenue up 172% Year-Over-Year and up 643% Sequentially; Management to Conduct Conference Call at 4:30 p.m.

CHICAGO, IL--(Marketwired - August 13, 2015) - rVue Holdings, Inc., (OTC PINK: RVUE), a premier advertising technology platform for digital place-based media, announced its financial results for the second quarter and year-to-date period ended June 30, 2015.

Second Quarter Highlights

  • Second quarter core revenue increased 172% to $542,900 compared to $199,500 in the year ago quarter, the company's highest quarterly core revenue to date.
  • Total revenue increased 148.7% to $574,400 from $231,000 in the prior-year second quarter.
  • SG&A expenses increased 4.0% to $365,900 from $352,000 in the year-ago quarter. Total expenses increased 64.7% year over year to $867,700 from $527,000 due to increased network costs.
  • Net loss for the second quarter was $(293,300), or less than one cent per share, compared to a net loss of $(296,000), or less than one cent per share, in the second quarter last year.

Year-to-Date Highlights

  • Core revenue was $616,000 for the first six months of 2015, up 57.1% from $392,200 in the year ago period.
  • Total revenue was $679,000 for the six months ended June 30, 2015, up 47.7% from $459,600 in the first six months of 2014.
  • SG&A expenses increased 15.0% to $817,100 from $710,800 in the first six months of last year. This increase was a result of incremental legal, auditing and marketing costs. Total expenses were $1.4 million year-to-date, up 31.1%, compared to $1.1 million a year ago.
  • Net loss for the first six months of 2015 was $(704,400), or less than one cent per share, an increase of 18.2% compared to a net loss of $(595,900), or less than one cent per share in the year ago period.

Mark Pacchini, President and CEO of rVue Holdings, Inc., commented, "Our efforts to expand our pipeline and increase the number of customer proposals helped us get back on track, driving increased sales as we delivered the highest quarterly core revenue to date. Core revenue for the first half of 2015 was more than double the same period last year, demonstrating the power of our digital distribution platform and the efficacy of our sales efforts."

Steve Schildwachter, rVue's Executive Vice President and Chief Marketing Officer, added, "We continue to work with existing media sales organizations and strategic partners to add digital place-based media to their portfolio of products, thereby extending our sales reach while controlling and optimizing our sales dollars. Through a diversity of sales channels, we are expanding our pipeline of qualified opportunities that includes both new and existing clients to drive exponential top-line growth."

"We've also made great strides with our technology platform during the quarter, continuing our commitment to continual upgrades on a regular basis," continued Pacchini. "While we are disappointed by the recent departure of our former Chief of Technology Officer, we're excited to have David Esser join us as the acting CTO. David brings a wealth of technology and start up experience, which will undoubtedly enhance and accelerate the advancement of the rVue platform.

"David and I have been in discussions for nearly 18 months and looking for the right time to bring him and InstantSys on board. That time is now."

InstantSys also provides rVue with a bench of experts and support... technology specialists needed to continue our progress without adding significant fixed costs.

David added: "rVue has a strong team of uniquely qualified technology experts who have been with the company from the early days, as well as a robust technology foundation. The InstantSys team and I are excited to work with the team in further enhancing the platform and extending rVue's lead. The digital place based media category shares the characteristics of early internet/mobile banner and video ad offerings, with few standards, decentralized buying processes, and initially limited attention as a media category, but as the industry matures it also shares the same tremendous upside potential. It's clear that digital place based media will take its place alongside TV, print, and internet/mobile as a major category of advertising spend. I look forward to helping rVue realize that potential."

Conference Call
Management will host a conference call to discuss the results at 4:30 p.m. ET, today, August 13, 2015.

Details are as follows:

About rVue
rVue Holdings, Inc. is an advertising technology company providing the digital distribution platform for the Digital Place-Based Advertising industry. The Company connects approximately one million digital screens across 190 networks delivering access to 250 million daily impressions in one simple platform. Backed by the industry's most intuitive and intelligent platform, rVue has the technology, data and expertise to connect brands and targeted consumers where and when it matters most. For more information, please visit http://www.rvue.com.

Forward Looking Statements
This press release contains "forward looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this press release that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control, and could cause the Company's results to differ materially from those described. The Company is providing this information as of the date of this press release and does not undertake any obligation to update any forward looking statements contained in this press release as a result of new information, future events or otherwise. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Important factors that could cause such differences include, but are not limited to, the Risk Factors and other information set forth in the Company's Quarterly Report on Form 10-Q to be filed today and in our other filings with the Securities and Exchange Commission.

Contact Information

  • Company Contacts
    Mark Pacchini
    President and CEO
    312-361-3368