TORONTO, ON--(Marketwired - May 29, 2015) - Technology and data company Engagement Labs Inc. (TSX VENTURE: EL), creator of the eValue™ score, is pleased to report its financial performance for the first quarter ended March 31, 2015. Revenue increased from continuing operations by 177% to $800,340 in Q1 2015 compared to revenue of $289,044 in Q1 2014. The increase of the company's year over year quarterly revenue is primarily attributable to the renewal and material increase versus 2014 in the level of business from a Fortune 60 company. The 2015 business activity with this customer, which is primarily associated with digital community management, has increased from the previously press released amount of US $938,000.
Gross profit for the period increased to 27% from 4% in Q1 2014. Net loss for the period was $2,088,195 compared to $642,855 for Q1 2014 and Adjusted EBITDA loss from continuing operations increased to $1,554,782 in Q1 2015 from $862,328 for the quarter ended March 31, 2014. Basic and diluted loss per share was $0.07 for the quarter ended March 31, 2015 compared to $0.09 for the quarter ended March 31, 2014.
"We continue to invest in R&D related to an aggressive product road map for our flagship SaaS eValue offering while at that the same time we are building out our sales & marketing capability given our confidence in the market opportunity for eValue," said CEO Bryan Segal.
"We are delighted to have recently established an on-the-ground presence in Manhattan, the world's leading advertising market, by having recruited a well-regarded local industry representative as well as having secured a relationship with Tomorro LLC -- led by industry veteran and advertising legend John Bond -- with the objective of launching and subsequently obtaining widespread penetration of our eValue marketing scoring system in the US," Segal followed.
"At the same time, scoring results from our eValue analytics tool are increasingly being included in articles in major US media properties including CNBC which last week highlighted our Beer Rankings: Miller Lite's 'Share Their Summer' and 'We'll Show America' Twitter campaign," said Segal. "Amongst our strategies to propel eValue into becoming the industry's global social media marketing 'currency' is the weekly publication of Top Ten social media brand rankings which are creating increasing awareness of eValue while also becoming an excellent source of new customer leads," Segal concluded.
About Engagement Labs
Engagement Labs' eValue™ Score is the global benchmark for social media scoring. eValue Analytics Pro, an enterprise-grade social media analytics platform, scores brands between 0-100. eValue measures brand's' social media and digital marketing efforts. It's composed of a series of metrics and key performance indicators (KPIs), including Engagement, Responsiveness and Impact, which is benchmarked against 75,000+ hand picked and verified brands.
The eValue score is composed of Engagement, Impact and Responsiveness metrics. Engagement is the level of interaction content receives on a specific social network; Impact is the unique reach content receives on a specific social network; and Responsiveness measures how much, how fast and how well a brand responds to actual conversations amongst its users.
Engagement Labs (TSX VENTURE: EL) offers intelligent social data, analytics and insights for organizations that are actively engaging on social networks. Offered as a SaaS or through an API, the eValue™ analytics platform allows brands to measure and maximize the effectiveness of their social media marketing campaigns, as well as measure that of their competitors across major social networks Facebook, Twitter, YouTube and Instagram. Engagement Labs maintains offices in Toronto, Montreal, Paris and New York. www.engagementlabs.com / www.evaluesuite.com