RE:RE:RE:SoMedia’s (VID.V or SMDWF) Financials – Staggering Growth!!
SoMedia Networks (TSX-V:VID), the pioneer of globally scalable video production solutions, today announced it has filed financial results for the year ended December 31, 2014. SoMedia reported record sales growth with sales volumes reaching $970,654, an increase of 125% over the previous year, while revenue grew by more than 71% over the prior year. This growth was characterized by strong performance in three key areas: expansion of the corporate sales channel, increased order values and increased price per video. Highlights: -- Sales increased 125% over the previous year totaling $970,654 -- Sales backlog at year end was $990, 694, up 145% compared to the prior year -- Growth in average order size of 237% year over year and 32% over the previous quarter -- Sales to repeat partners increased by 64% over the same quarter in the prior year and by 127% year over year -- Total operating costs decreased by 10% over the prior quarter and for the full year costs were 24 % lower than 2013 -- Completed integrations with more than 20 major SaaS marketing platforms including Marketo (NASDAQ:MKTO), Oracle-Eloqua (NASDAQ:ORCL), Salesforce-ExactTarget (NASDAQ:CRM) "I am extremely pleased with what SoMedia accomplished in 2014 and even more excited about the momentum we carry in to 2015," said George Fleming, the Company's co Chief Executive Officer. "Improved sales and marketing performance has enabled us to add higher value partners, increase order size, and drive more repeat business. Furthermore, in the fourth quarter we completed our 20th integration with a major online marketing platform, establishing SoMedia as the only provider of integrated video production, players and analytics to tens of thousands of customers of these platforms."