Remark Media (NASDAQ: MARK) reported Q1 EPS of ($0.43), $0.08 worse than the analyst estimate of ($0.35). Revenue for the quarter came in at $16.72 million versus the consensus estimate of $19.45 million.

Three Months Ended March 31st: 2018 compared to 2017

• Revenue increased approximately 9% to $16.7 million, compared to $15.3 million.
• Total cost and expense was $37.9 million, compared to $20.7 million. The increase was primarily due to non-cash charges related to early lease termination and employee stock compensation.
• The increase in non-cash expense, partially offset by the increased revenue, resulted in an operating loss for the first quarter of 2018 of $21.2 million, compared to $5.4 million.
• Adjusted EBITDA for the first quarter of 2018 was $(6.9) million, which includes the early lease termination charge of approximately $2.3 million.
• Net loss was $14.1 million, or $(0.43) per diluted share, compared to net loss of $25,000, or $0.00 per diluted share. Net loss for the first quarter of 2018 included an $8.6 million non-cash gain related to a change in the fair value of the company\'s warrant liability, which occurred as a result of the decrease in the company\'s stock price during the period. For the first quarter of 2017, the company recorded a $6.6 million gain related to the change in the fair value of the company\'s warrant liability.
• At March 31, 2018, the cash and cash equivalents balance was $21.9 million, and total restricted cash was $11.7 million, bringing the total combined cash position to $33.5 million, compared to a total combined cash position of $34.3 million at December 31, 2017.

For earnings history and earnings-related data on Remark Media (MARK) click here.