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SITO Mobile Q1 Misses Expectations, Faces Liquidity Challenge

4:14PM ET 5/15/2019 MT Newswires
SITO Mobile's (SITO) net loss narrowed to $0.20 per share in Q1 from $0.22 per share a year earlier, much wider than analysts' estimates of $0.12 loss per share in a Capital IQ poll.

Revenue fell to $8.43 million from $11.14 million a year ago, lagging the $9.50 million estimate.

The company also said it is facing liquidity challenges due to negative cash flow, and plans to improve cash flow through improvements in the collection process, continuing to seek longer and more profitable customer deals and seeking additional capital, as needed.

Price: 1.9000, Change: -0.0200, Percent Change: -1.04