Symbility Solutions Announces Third Quarter 2015 Financial Results

TORONTO, ON--(Marketwired - November 16, 2015) - Symbility Solutions Inc. (the "Corporation") (TSX VENTURE: SY), a global software company dedicated to developing applications for the insurance industry, reports that consolidated revenue increased to $7.8 million for the three months ending September 30, 2015. This compares to revenues of $6.6 million in the same period last year, which represents an increase of 18 percent, and $5.6 million in the second quarter of 2015, representing 38 percent revenue growth this quarter over the last quarter.

The net loss for the three months ending September 30, 2015 was $864,000 and represents a basic and fully diluted loss per share of ($0.00). This compares to net loss of $259,000 in the same period last year, representing a basic and fully diluted loss per share of ($0.00). The Corporation has a cash balance of $4.5 million as at September 30, 2015.

The Corporation believes adjusted EBITDA¹ is also a useful measure as a proxy for operating cash flow and facilitates period-to-period operating comparisons. Adjusted EBITDA for the three months ending September 30, 2015 was $512,000 compared to adjusted EBITDA of $597,000 in the same period last year.

Symbility's chief executive officer, James Swayze, commented, "Symbility is very pleased to have returned to positive Adjusted EBITDA this quarter. The changes we have been implementing this year have helped Symbility get back on track with the kind of revenue growth we have achieved in recent years. From a customer adoption perspective, we have signed a number of contracts in both North America and Europe recently and we expect to continue this momentum as we close out the year which will drive further growth and profitability."

Third Quarter Results Conference Call

Symbility will host a conference call today, Monday, November 16, 2015, at 11:00 a.m. ET to provide a business update and review financial results for the third quarter of 2015. The conference call will be webcast. All interested parties are welcome to join the live webcast, which can be accessed at http://www.gowebcasting.com/7090. Participants may also join the conference call by dialing toll free 1-877-291-4570 or 1-647-788-4919 for international participants.

Symbility is pleased to announce that it has engaged The Howard Group as its strategic investor communications advisor, providing both traditional and online initiatives targeting the investment community and the investing public. The Agreement has a term of one year effective November 1, 2015. The remuneration payable to the Howard Group will be $7,500 per month plus GST. The Agreement is subject to the approval of the TSX Venture Exchange.

Selected Financial Information
(in thousands of dollars, except per share amounts)

¹ Adjusted EBITDA is a non-IFRS measure and is calculated as earnings before interest income, taxes, depreciation and amortization, impairment losses, stock-based compensation, and other non-recurring gains or losses including transaction costs related to acquisition and restructuring cost. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Adjusted EBITDA does not have any standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures presented by other companies. Adjusted EBITDA should not be considered in isolation or as a substitute for net earnings (loss) prepared in accordance with IFRS as issued by IASB. All other financial measures referenced herein have been prepared in accordance with International Financial Reporting Standards unless stated otherwise.

² In Canadian dollars, rounded to the nearest cent.

About Symbility Solutions^® Inc.

Symbility Solutions (TSX VENTURE: SY) is a global provider of cloud-based and mobile-enabled claims technology for the property and health insurance industries. Designed to be flexible and easy-to-use, Symbility Solutions' two product suites, Symbility Property™ and Symbility Health™, empower insurers to collaborate across the entire claims processing workflow and reduce costs while delivering a market-leading claims experience. Symbility's mobile innovation division, BNOTIONS, focuses on the design and development of leading technologies in the areas of mobile, the Internet of Things (IoT), Machine-to-Machine (M2M), and wearables. For more information, please visit www.symbilitysolutions.com or follow Symbility on Twitter at @symbility and on LinkedIn at symbility-solutions.

Caution Regarding Forward-Looking Information

This press release may contain forward-looking statements with respect to the Corporation, its products and operations and the estimated value and future operation relating to the BNOTIONS acquisition and the Corporation's future opportunities and expected financial performance. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of the Corporation discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations, and the factors described under "Risk Factors" in the Management's Discussion and Analysis and Annual Information Form of the Corporation which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Corporation and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Corporation has no obligation to update such statements.

This press release should be read in conjunction with Corporation's consolidated financial statements and related notes, and management's discussion and analysis for the quarter ending September 30, 2015, copies of which can be found at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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