RE:Q3 Financials available on SEDARMyopinion57 wrote: Looking forward to expert analysis, and guidance. I do see a 60% + increase in Gross Revenue from the same quarter last year!
During the three months ended March 31, 2019, gross revenues were $603,854 compared to $364,427 for the three months ended March 31, 2018, representing an increase of 66%. The increase is driven by the investment in marketing and promotional activities with the Hill Street Challenge in the Q2. During the nine months ended March 31, 2019, gross revenues were $1,925,373 compared to $1,336,515 for the same period year ago, representing an increase of 44%.
Net revenues for the three months ended March 31, 2019 were $428,355 compared to $248,093 in the same period year ago, representing an increase of 73%. Net revenues are calculated by deducting from gross revenues the costs of chargebacks and listing fees paid to distribute products. Net revenues were up 7% more than the increase in gross revenue for the quarter, year over year. Net revenues for the nine months ended March 31, 2019 were $1,335,300 compared to $576,332 in the nine months ended March 31, 2018, representing an increase of approximately 132%. The increase in net revenue is driven by the reclassification of some contra revenue items to operating expenses in accordance with IFRS.