|By Business Wire||
|July 3, 2014 07:30 AM EDT||
SoMedia Networks (TSX-V:VID), the pioneer of globally scalable cloud-based video production solutions, reported results for the three month period ending June 30, 2014.
The results for the three months ending June 30, 2014 reflect a 57% increase in sales over the previous quarter or 134% sales growth over the same period last year, which follows an increase of 36% in the first quarter of 2014. SoMedia continued to modify and improve its operations and focus on increasing market penetration of its Scalable Video solutions, including the development of a third sales channel, SoMedia Direct. The complete financial results for SoMedia are available at www.sedar.com.
Q2 2014 HIGHLIGHTS
- Achieved record sales of $251,702, an increase of 57% over the previous quarter, and an increase of 134% from the year-ago quarter. This builds on an increase of 36% in the first quarter
- Achieved year over year revenue growth of 139%, up 25% over the prior quarter
- Average order size by repeat resellers increased by 214% over the year ago-quarter and up 28% over the prior quarter as a result of focusing on higher-value existing and corporate clients
- Sales to existing resellers increased by 198% and by 65% to new resellers over the prior quarter
KEY PERFORMANCE INDICATORS
For the quarter
|Value of Orders||251,702||160,341||117,366||130,623||107,518||76,665|
|Average Order Value – Repeat Sale ($)||3,842||2,107||1,223||1,729||1,593||1,821|
|Average Order Value – Initial Sale ($)||2,848||2,033||764||739||796||1,143|
The measures described in this table are not intended to be measures that should be regarded as an alternative to other financial operating performance measures prepared in accordance with IFRS. Those measures do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. They are provided to assist investors in determining the Company’s ability to generate profitability from its operations and to evaluate its financial performance. For further descriptions of these terms, please refer to either the Company’s Management’s Discussion and Analysis for the period or to the ‘Definition of Key Performance Indicators’ section at the conclusion of this document.
“We continue to expand our focus on providing video production solutions that emphasize our key competitive advantages of scale, volume and reach,” said George Fleming, CEO of SoMedia Networks. “As a result the Company is experiencing significant momentum and our sales and marketing initiatives have resulted in the Company's best quarter to date in terms of sales volume and revenue. The second quarter saw sales growth of 57% quarter over quarter after an increase of 36% in the first quarter. During the quarter revenues increased 25% from Q1 2014 and 139% over the year-ago quarter.”
“We are seeing strong demand across a variety of sectors as video content is embraced as an increasingly effective way to drive engagement by corporations. We believe our targeted sales and marketing initiatives focused on resellers and corporate accounts along with the expansion of SoMedia Direct integrations into new large SaaS marketing and business services platforms will drive accelerated growth going forward."
The Company delivered higher revenues with lower costs as a direct result of adjusting to demand and reducing operating costs.
|In Canadian Dollars ($)||
Six months ended June
December 31, 2013
Year ended December 31,
|Other operating expenses||866,078||2,196,597||861,430|
|Comprehensive Loss for the Period||(2,135,941)||(6,783,395)||(4,024,107)|
|Loss per share (basic and diluted)1||(0.04)||(0.36)||(0.37)|
|Long term financial liabilities||-||-||2,767,726|
|Cash dividends per share||-||-||-|
Note: (1) Reflects numbers after effecting the 4-for-1 Share Consolidation which was effective as of May 6, 2013.
At the end of the second quarter investor relations consultant Ryan Johnson resigned. The Company wishes to thank Mr. Johnson for his contribution to the Company.
About SoMedia Networks
SoMedia Networks, the creator of Scalable Video, has reengineered how businesses access video content creation, production and deployment. The cloud-based SoMedia Platform allows businesses, brands and media to easily order the production of custom video content at scale and volume, anywhere, on demand, with rapid turnaround, and at a fraction of current costs.
SoMedia provides Scalable Video as an integrated solution to corporate partners, as a resale solution through thousands of web marketing firms and directly to digital agencies and millions of SMBs across North America. To learn more visit: www.somedia.net.
DEFINITION OF KEY PERFORMANCE INDICATORS
Value of Sales: The dollar value of videos sold during the period. A video is considered sold when a client makes an order and provides a deposit. Revenue is not recognized until the video is completed and approved by the client.
Average Order Value-Repeat Sales: A repeat sale is a sale made to a client with one or more prior purchases. The “Average order value – repeat sales” is the total of all orders received from repeat clients in the quarter, divided by the number of unique orders made by these clients.
Average Order Value - New sales: A new sale is a sale made to a client with no prior purchase history. The “Average order value - new sales” is the total orders received from new clients in the quarter, divided by the number of unique orders made by these clients.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Jul. 7, 2015 05:45 PM EDT Reads: 2,447
"We have seen the evolution of WebRTC right from the starting point to what it has become today, that people are using in real applications," noted Dr. Natasha Tamaskar, Vice President and Head of Cloud and Mobile Strategy and Ecosystem at GENBAND, in this SYS-CON.tv interview at WebRTC Summit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 05:15 PM EDT Reads: 718
Announcing @ProfitBricksUSA to Exhibit at @CloudExpo Silicon Valley | #IoT #API #DevOps #Microservices
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
Jul. 7, 2015 05:00 PM EDT Reads: 2,266
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than
Jul. 7, 2015 05:00 PM EDT Reads: 2,239
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
Jul. 7, 2015 05:00 PM EDT Reads: 2,449
[video] Logging and Monitoring with @Sematext Founder @OtisG | @DevOpsSummit #DevOps #Logging #Monitoring
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 04:45 PM EDT Reads: 1,712
[slides] Policy in Hybrid Cloud By @DerekCollison | @CloudExpo #API #DevOps #Containers #Microservices
Enterprises are turning to the hybrid cloud to drive greater scalability and cost-effectiveness. But enterprises should beware as the definition of “policy” varies wildly. Some say it’s the ability to control the resources apps’ use or where the apps run. Others view policy as governing the permissions and delivering security. Policy is all of that and more. In his session at 16th Cloud Expo, Derek Collison, founder and CEO of Apcera, explained what policy is, he showed how policy should be arch...
Jul. 7, 2015 04:30 PM EDT Reads: 803
"CenturyLink brings a full suite of services to the table and that enables us to be an IT service provider," explained Jeff Katzen, Director of the Cloud Practice at CenturyLink, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 04:15 PM EDT Reads: 605
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Jul. 7, 2015 04:00 PM EDT Reads: 1,948
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
Jul. 7, 2015 03:45 PM EDT Reads: 1,403
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Jul. 7, 2015 03:45 PM EDT Reads: 2,392
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Jul. 7, 2015 03:45 PM EDT Reads: 2,682
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
Jul. 7, 2015 03:30 PM EDT Reads: 1,803
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...
Jul. 7, 2015 03:30 PM EDT Reads: 1,961
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Jul. 7, 2015 03:30 PM EDT Reads: 2,457
[video] Infrastructure as a Toolbox By @SoftLayer at @CloudExpo New York | #IoT #API #Containers #Microservices
Countless business models have spawned from the IaaS industry. Resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his General Session at 16th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, broke down what we've got to work with and discuss the benefits and pitfalls to discover how we can best use them to d...
Jul. 7, 2015 03:30 PM EDT Reads: 2,347
[slides] The Secure Path to Value in the Cloud By @Windstream | @CloudExpo #IoT #API #Containers #Microservices
Even as cloud and managed services grow increasingly central to business strategy and performance, challenges remain. The biggest sticking point for companies seeking to capitalize on the cloud is data security. Keeping data safe is an issue in any computing environment, and it has been a focus since the earliest days of the cloud revolution. Understandably so: a lot can go wrong when you allow valuable information to live outside the firewall. Recent revelations about government snooping, along...
Jul. 7, 2015 03:00 PM EDT Reads: 2,376
[slides] Workloads and Public Cloud at @CloudExpo By @utollwi | @ProfitBricksUSA #DevOps #Containers #Microservices
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
Jul. 7, 2015 03:00 PM EDT Reads: 2,739
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Jul. 7, 2015 02:45 PM EDT Reads: 1,637
"We have an new division call the Cloud Monetization Division, based on our platform Powua, which empowers enterprises and organizations to take the journey to cloud monetization and to make it a reality," explained Ian Khan, Manager, Innovation & Marketing at Solgenia, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 02:45 PM EDT Reads: 691