RE:RE:,,,,,,,,,,,,,,,,,,RECORD QUARTER NOW...........!!!!!LOOKS Like Our EQ
Will NOT BE RANGE BOUND Much Longer eh !!!!!!! ???????????
Revenue increases 71% for the quarter and 74% year over year
TORONTO, ON / ACCESSWIRE / August 19, 2021 / EQ Inc. (TSXV:EQ) ("EQ Works" or the "Company"), a leader in geospatial data and artificial intelligence driven software, announced its financial results today, for the second quarter ended June 30, 2021.
Revenue for the second quarter of over $3.0 million, was an increase of 71% from the previous quarter, an increase of 74% when compared to the second quarter of 2020, and the second-best quarter in the last eight years. This revenue growth was the result of new data engagements, as well as the Company's continued focus on key verticals, including financial services, insurance, automotive and retail. Data revenue for the quarter increased by 85% compared to the same period a year ago and 66% sequentially, as demand continued to increase for proprietary data solutions.
The Company experienced growth in both its data and advertising divisions as demand for data and analytics, artificial intelligence, machine learning and customer acquisition continued to increase. The Company continued to invest in technology development and recruiting top data science talent which resulted in an adjusted EBITDA loss for the quarter of approximately $0.5 million, which was an improvement of 22% from the previous quarter.