Social Reality (SRAX) Reports Q1 Loss of $0.36, Miss on Revenues

Social Reality (NASDAQ: SRAX) reported Q1 EPS of ($0.36). Revenue for the quarter came in at $2.11 million versus the consensus estimate of $6.49 million.

Financial Results: First Quarter 2018 Compared to First Quarter 2017

• Gross revenue was $2.1 million, compared to $5.3 million in the first quarter of 2017, which included high volume, low-margin revenue as well as a larger contribution from SRAX Reach customers.
• Gross margin was 61% on gross profit of $1.3 million, compared to gross margin of 38% on gross profit of $2.0 million in the year ago quarter, reflecting the company\'s focus on high-margin revenue.
• Operating expenses were $4.1 million, compared to $5.2 million, which included $847,000 in one-time charges in the first quarter of 2017.
• Loss from operations improved to $2.8 million, compared to $3.2 million in the first quarter of 2017.
• Net loss was $3.6 million, or $0.36 cents per share, compared to $3.9 million, or $0.50 cents per share in the first quarter of 2017.
• Adjusted EBITDA loss was $2.5 million, compared to $1.7 million in the first quarter of 2017.
• Cash and cash equivalents were $190,000 at March 31, 2018, compared to $1.0 million at December 31, 2017. The company renewed its $4 million credit facility with FastPay in April.

For earnings history and earnings-related data on Social Reality (SRAX) click here.

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