Audioeye, Inc. (NASDAQ: AEYE) reported Q1 EPS of ($0.09), $0.14 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $5.8 million versus the consensus estimate of $5.9 million.

AudioEye Interim CEO David Moradi said, "We continued to expand our margins to over 76% in the first quarter from 69% in the prior year period, underscoring our ability to create leverage in our operations. We believe existing and expected new partners along with continued momentum through our digital marketplace will enable us to generate revenue for the year of $30M - $32M and to turn cash flow positive.

"We feel confident that we will rapidly grow both MRR and customer count at an accelerating pace this year. We not only have superior technology, an extraordinary team, a very strong pipeline of partners and agencies, but at quarter end we also had $25.8M in cash which puts us in the strongest position we have ever been in to scale our business."

GUIDANCE:

Audioeye, Inc. reiterates FY2021 revenue of $30-32 million.

For earnings history and earnings-related data on Audioeye, Inc. (AEYE) click here.