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UpSnap Announces Q1 2018 Financial Results

(May 16, 2018)

TORONTO, May 16, 2018 (GLOBE NEWSWIRE) -- UpSnap Inc. (CSE:UP) ("UpSnap" or the "Company"), a leading provider of mobile and intent based advertising solutions, today announced its first quarter (Q1) financial results for the three month period ended March 31, 2018.



First Quarter Financial Highlights

  • Revenue from Intentional Direct Mail (“IDM”) was $0.1 million in Q1 2018 compared to $nil in Q1 2017.
  • Total gross sales from Intentional Direct Mail (“IDM”) for Q1 2018 was $0.3 million and over 200 IDM customers were added to the platform.
  • Total operating cost of $0.9 million for Q1 2018, compared to $1.1 million in Q1 2017, a decrease of 17%.
  • Loss from operations was $0.1 million for Q1 2018, compared to a loss of $0.1 million in Q1 2017.
  • Total operating revenue was $0.8 million for Q1 2018 compared to $1.0 in million in Q1 2017.

“Our IDM technology solution has garnered significant interest from brands and advertisers and we are excited about the future of this technology,” said Bruce Howard, Chief Executive Officer of UpSnap. “We have taken a number of steps to ramp up spend from this product including a refocused partnership with resellers and the inclusion of a new sales channel. In addition, we are seeing an increase in demand for our legacy mobile DSP through this reseller channel. SMBs continue to show demand for a mobile programmatic offering and we are working to add unique solutions that can address this need.”

This news release should be read in conjunction with UpSnap’s unaudited financial statements and the accompanying notes, as at and for the quarter ended March 31, 2018, together with the related Management Discussion and Analysis.  Those documents have been filed with certain securities regulatory authorities in Canada and are available on SEDAR (www.sedar.com) and on the UpSnap website at www.upsnap.com.

About UpSnap

UpSnap provides highly-targeted, data-driven mobile advertising to attract the ideal audience for brands big and small.  Combining first-party proprietary data and real-time analytics, UpSnap goes beyond location to deliver site agnostic and results-driven campaigns that produce qualified, engaged customers.  UpSnap tailors each campaign to align with unique business goals, delivering the right customers for more meaningful exposure and better business results.

For further information, please contact:   

Alex Pekurar, CPA, CA

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