SITO Mobile Ltd SITO:NASDAQ

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SITO Mobile Q4 Loss Beats Estimate; Sales Miss Forecast

8:47AM ET 3/29/2019 MT Newswires
SITO Mobile (SITO) reported early Friday Q4 GAAP loss of $0.04 per diluted share, narrower than a loss of $0.31 per share a year ago and the $0.15 average loss estimate from three analysts polled by Yahoo Finance.

Total revenue fell to $11.1 million from $14.7 million a year ago, lagging the $13.73 million consensus.

Adjusted EBITDA came in at $145,047, versus an operating loss of $2.0 million a year ago.

"Our business and revenue mix continues to shift towards enterprise customers that are utilizing SITO consumer insights for data-driven transactions," CEO Tom Pallack said.

In Q4, the company said the sales to enterprise customers and recurring engagements leveraging its proprietary data represented 35% of total revenue. "We believe we now have the right management team in place and the necessary access to funds through our new factoring agreement to effectively drive our brand direct and channel partner strategy," Pallack added.

Price: 1.5200, Change: +0.0100, Percent Change: +0.66