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EQ Inc. Reports Second Quarter Financial Results

EQ Inc. Reports Second Quarter Financial Results

EQ Inc. 公佈第二季度財務業績
Accesswire ·  2023/08/30 05:00

Revenue Increases Over 50% - EBITDA on Track to Profitability - New $4M Credit Facility

收入增長超過50%-EBITDA有望盈利-新的400萬美元信貸安排

TORONTO, ON / ACCESSWIRE / August 29, 2023 / EQ Inc. (TSXV:EQ) ("EQ Works" or the "Company"), a leader in AI and geospatial data driven software and solutions, announced its financial results today for the second quarter ended June 30, 2023.

多倫多,on/ACCESSWIRE/2023年8月29日/EQ公司(多倫多證券交易所股票代碼:EQ)(以下簡稱“EQ Works”或“公司”)是人工智慧和地理空間數據驅動軟體和解決方案領域的領先者,該公司今天公佈了截至2023年6月30日的第二季度財務業績。

EQ is very pleased to report that revenue for the quarter increased by over 50% from the previous quarter, to over $2.5 million, as clients continued to increase their investments in AI, data and media solutions. EQ's focus on AI and data driven insights is a significant differentiator in the market and continues to generate interest from companies across multiple verticals. The need for unique, opt-in and real time data is an essential component for every company working to integrate AI solutions into their business and EQ is well positioned to take advantage of this market.

EQ非常高興地報告,由於客戶繼續增加對人工智慧、數據和媒體解決方案的投資,該季度收入比上一季度增長了50%以上,達到250萬美元以上。EQ對人工智慧和數據驅動洞察力的關注是市場上的一個顯著差異化因素,並繼續引起多個垂直領域的公司的興趣。對於每個致力於將人工智慧解決方案整合到業務中的公司來說,對獨特、選擇加入和即時數據的需求是一個必不可少的組成部分,而EQ處於有利地位,可以利用這個市場。

Gross margin for the quarter of 42% was a significant improvement over both the previous quarter and from the same period a year ago. The adjusted EBTIDA also improved significantly as the Company continued to focus on its overall cost structure resulting in an adjusted EBITDA loss for the quarter of $0.4 million an improvement of 57% sequentially and over 64% from the same period a year ago.

該季度的毛利率為42%,比上一季度和去年同期都有顯著改善。調整後的EBTIDA也有顯著改善,因為公司繼續專注於其整體成本結構,導致本季度調整後的EBITDA虧損40萬美元,環比增長57%,比去年同期增長64%以上。

EQ remains on track to be profitable by the end of 2023. With a continued focus on higher margin recurring revenue products, including its proprietary AI tools and insight models, the Company's investments in proprietary data assets and solutions are showing strong results. The aggregation of geospatial data, the enhancements to its consumer facing app Paymi, and the deep data partnerships with some of the best data companies in the country have positioned EQ extremely well and is generating renewed interest in its key verticals of retail, financial services and automotive.

EQ仍有望在2023年底實現盈利。隨著繼續專注於更高利潤率的經常性收入產品,包括其專有人工智慧工具和洞察模型,該公司在專有數據資產和解決方案方面的投資顯示出強勁的成果。地理空間數據的聚合,其面向消費者的應用程式Paymi的增強,以及與國內一些最好的數據公司的深度數據合作夥伴關係,使EQ處於非常有利的地位,並重新引起了人們對其零售、金融服務和汽車等關鍵垂直領域的興趣。

"Our focus continues to be on growth and profitability" said Geoffrey Rotstein, President and CEO of EQ Works. "Our network of first party data and the work we do to make that data actionable, has grown significantly over the past few years and with AI becoming an essential tool for all businesses, we are extremely excited about our position in the market and the opportunities currently underway. By focusing on data, and products that lead with data, to drive business results we are confident about the targets we've set for ourselves and our organization."

EQ Works首席執行官兼首席執行官傑弗裡·羅特斯坦表示:我們的重點仍然是增長和盈利。我們的第一方數據網絡和我們為使這些數據可操作所做的工作,在過去幾年裡顯著增長,隨著人工智慧成為所有企業的基本工具,我們對我們在市場上的地位和目前正在進行的機會感到非常興奮。通過專注於數據和引領數據的產品,我們對我們為自己和我們的組織設定的目標充滿信心。

The Company is also pleased to announce that it has also finalized a new credit facility. After the quarter ended, the Company replaced its revolving line of credit facility with an accounts receivable facility under which the Company can borrow up to $4.0 million based on 85% of the eligible accounts receivable aged under 90 days.

該公司還高興地宣佈,它還敲定了一項新的信貸安排。本季度結束後,本公司以應收賬款融資取代了其迴圈信貸額度,根據該融資融資,本公司可根據90日以下合格應收賬款的85%借入最多400萬美元。

In addition, subsequent to quarter end the Company granted 100,000 stock options to an employee of the Company. These stock options are exercisable at CDN $0.95 per stock option and will expire on August 29, 2028. These stock options vest over a period of thirty-six months following the grant date and are governed by the terms and conditions of the Company's stock options plan. Following this grant of stock options, the Company has a total of 2,008,500 stock options outstanding representing approximately 2.9% of the outstanding common shares of the Company.

此外,在季度末之後,公司向公司的一名員工授予了100,000份股票期權。這些股票期權可按每股0.95加元的價格行使,將於2028年8月29日到期。這些股票期權在授予日期後36個月內授予,並受公司股票期權計劃的條款和條件管轄。在授予股票期權之後,公司總共有2,008,500股已發行股票期權,約佔公司已發行普通股的2.9%。

Non-IFRS Financial Measures

非國際財務報告準則財務衡量標準

EQ Works measures the success of the Company's strategies and performance based on Adjusted EBITDA, which is outlined and reconciled with net loss in the section entitled "Reconciliation of Net Loss for the period to Adjusted EBITDA" in the MD&A. The Company defines Adjusted EBITDA as net loss from operations before: (a) depreciation of property and equipment and amortization of intangible assets, (b) share-based payments, (c) finance income and costs, net, (d) depreciation of right-of-use assets (e) restructuring costs. Management uses Adjusted EBITDA as a measure of the Company's operating performance because it provides information on the Company's ability to provide operating cash flows for working capital requirements, capital expenditures, and potential acquisitions. The Company also believes that analysts and investors use Adjusted EBITDA as a supplemental measure to evaluate the overall operating performance of companies in its industry.

EQ Works根據調整後的EBITDA衡量公司戰略和業績的成功,這一指標在MD&A中題為“調整後EBITDA期間的淨虧損對賬”一節中概述並與淨虧損進行了核對。公司將調整後EBITDA定義為在以下情況之前的經營淨虧損:(A)財產和設備折舊和無形資產攤銷,(B)基於股份的付款,(C)財務收入和成本,淨額,(D)使用權資產折舊(E)重組成本。管理層使用調整後的EBITDA作為衡量公司經營業績的指標,因為它提供了有關公司為營運資本要求、資本支出和潛在收購提供營運現金流的能力的資訊。該公司還認為,分析師和投資者使用調整後的EBITDA作為一種補充指標,以評估其行業內公司的整體經營業績。

The non-IFRS financial measure is used in addition to, and in conjunction with, results presented in the Company's consolidated financial statements prepared in accordance with IFRS and should not be relied upon to the exclusion of IFRS financial measures. Management strongly encourages investors to review the Company's consolidated financial statements in their entirety and to not rely on any single financial measure. Because non-IFRS financial measures are not standardized, it may not be possible to compare these financial measures with other companies non-IFRS financial measures having the same or similar names. In addition, the Company expects to continue to incur expenses similar to the non-IFRS adjustments described above, and exclusion of these items from the Company's non-IFRS measures should not be construed as an inference that these costs are unusual, infrequent, or non-recurring.

非國際財務報告準則財務計量是根據國際財務報告準則編制的公司綜合財務報表中列報的結果的補充和結合使用,不應依賴,不得排除國際財務準則財務計量。管理層強烈鼓勵投資者全面審查公司的綜合財務報表,不要依賴任何單一的財務衡量標準。由於非《國際財務報告準則》財務計量沒有標準化,可能無法將這些財務計量與其他名稱相同或相似的非《國際財務報告準則》財務計量進行比較。此外,公司預計將繼續產生與上述非國際財務報告準則調整類似的費用,將這些專案排除在公司的非國際財務報告準則措施之外,不應被解釋為推斷這些成本是不尋常的、不常見的或非經常性的。

The table below reconciles net loss from operations and Adjusted EBITDA for the periods presented:

下表對本報告所列期間的業務淨虧損和調整後的EBITDA進行了核對:

About EQ Works

關於情商作品

EQ Works ( ) enables businesses to understand, predict, and influence customer behaviour. Using unique data sets, advanced analytics, machine learning and artificial intelligence, EQ Works creates actionable intelligence for businesses to attract, retain, and grow the customers that matter most. The Company's proprietary SaaS platform mines insights from movement and geospatial data, enabling businesses to close the loop between digital and real-world consumer actions.

EQ Works()使企業能夠了解、預測和影響客戶行為。EQ Works使用獨特的數據集、高級分析、機器學習和人工智慧,為企業創造可操作的智慧,以吸引、留住和發展最重要的客戶。該公司專有的SaaS平臺從移動和地理空間數據中挖掘洞察力,使企業能夠關閉數位和現實世界消費者行動之間的環路。

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

多倫多證券交易所及其監管服務提供商(該術語在多倫多證券交易所-V的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。

Forward-Looking Statements

前瞻性陳述

Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company's future financial position and results of operations, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions, or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks, and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied, or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance, or achievements to differ materially include, but are not limited to, the risk factors discussed in the Company's MD&A for the three months ended June 30, 2023. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives but cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and any other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect subsequent information, events, or circumstances or otherwise, except as required by law.

本新聞稿中包含的某些陳述屬於“前瞻性陳述”。除本新聞稿中包含的歷史事實陳述外的所有陳述,包括但不限於關於公司未來財務狀況和經營結果、戰略、計劃、目標、目標和指標的陳述,以及前面、後面或包括“相信”、“預期”、“目標”、“打算”、“計劃”、“繼續”、“將”、“可能”、“將”、“預期”、“估計”、“預測”、“專案”、“尋求”等詞語的任何陳述,“應該”或類似的表達,或其否定,都是前瞻性陳述。這些陳述不是歷史事實,而僅代表公司對未來事件的預期、估計和預測。這些陳述不是對未來業績的保證,涉及難以預測的假設、風險和不確定性。因此,實際結果可能與這些前瞻性陳述中所表達、暗示或預測的內容大不相同。其他可能導致實際結果、業績或成就大不相同的因素包括但不限於公司在截至2023年6月30日的三個月的MD&A報告中討論的風險因素。管理層提供前瞻性陳述,因為它認為這些陳述在考慮其投資目標時為投資者提供了有用的資訊,但告誡投資者不要過度依賴前瞻性資訊。因此,本新聞稿中的所有前瞻性陳述都受這些警示聲明和任何其他警示聲明或本文中包含的因素的限制,不能保證實際結果或發展將會實現,或者即使實質上實現了,也不能保證它們將對公司產生預期的後果或影響。這些前瞻性陳述是截至本新聞稿發佈之日作出的,公司沒有義務更新或修改這些陳述,以反映後續資訊、事件或情況或其他情況,除非法律要求。

EQ Inc.
Peter Kanniah, Chief Financial Officer
1235 Bay Street, Suite 401| Toronto, Ontario |M5R 3K4
press@eqworks.com

EQ Inc.
首席財務官Peter Kanniah
灣街1235號,401套房|安大略省多倫多|m5R 3K4
電子郵件:Press@eqworks.com

EQ Inc.
Unaudited Condensed Consolidated Interim Statements of Financial Position
(In thousands of Canadian dollars)

EQ Inc.
未經審計的簡明綜合中期財務狀況表
(單位:千加元)

June 30, 2023 December 31, 2022
Assets
Current assets:
Cash
$ 458 $ 1,253
Accounts receivable
2,373 3,535
Other current assets
223 234
3,054 5,022
Non-current assets:
Property and equipment
36 55
Intangible assets
2,007 2,156
Goodwill
2,914 2,914
4,957 5,125
Total assets
$ 8,011 $ 10,147
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable and accrued liabilities
$ 3,125 $ 3,488
Rewards payable
1,338 1,281
Loans and Borrowings
79 79
Contract liabilities
201 60
4,743 4,908
Shareholders' equity
3,268 5,239
Total liabilities and shareholders' equity
$ 8,011 $ 10,147
2023年6月30日 2022年年12月31日
資產
流動資產:
現金
$ 四百五十八 $ 1253
應收賬款
2373 3535
其他流動資產
223 二百三十四
3,054 5,022
非流動資產:
財產和設備
36 55
無形資產
2,007 2,156
商譽
2914 2914
4957 5,125
總資產
$ 8,011 $ 10,147
負債與股東權益
流動負債:
應付賬款和應計負債
$ 3,125 $ 3488
應付報酬
1,338 1,281
貸款和借款
79 79
合同責任
201 60
4743 4,908
股東權益
3268 5,239
總負債和股東權益
$ 8,011 $ 10,147

EQ Inc.
Unaudited Condensed Consolidated Interim Statements of Loss and Comprehensive Loss
(In thousands of Canadian dollars, except per share amounts)
Three and six months ended June 30, 2023 and 2022

EQ Inc.
未經審計的簡明合併中期損失表和全面損失表
(單位為數千加元,每股金額除外)
截至2023年和2022年6月30日的三個月和六個月

Three months ended June 30, Six months ended June 30,
2023 2022 2023 2022
Revenue
$ 2,541 $ 3,240 $ 4,232 $ 5,954
Expenses:
Publishing costs
1,485 1,989 2,528 3,765
Employee compensation and benefits
941 1,223 2,024 2,627
Other operating expenses
543 1,246 1,111 2,450
Depreciation of property and equipment
8 17 19 38
Depreciation of right-of-use asset
- - - 6
Amortization of intangible assets
204 158 449 278
Restructuring costs
- - 122 -
3,181 4,633 6,253 9,164
Loss from operations
(640 ) (1,393 ) (2,021 ) (3,210 )
Finance income
7 22 5 18
Finance costs
(6 ) (10 ) (11 ) (48 )
Loss before income taxes
(639 ) (1,381 ) (2,027 ) (3,240 )
Net loss
(639 ) (1,381 ) (2,027 ) (3,240 )
Loss per share:
Basic and diluted
(0.01 ) (0.02 ) (0.03 ) (0.05 )
截至6月30日的三個月, 截至6月30日的六個月,
2023年年 2022 2023年年 2022
收入
$ 2541 $ 3240 $ 4232 $ 5954
費用:
出版成本
1485 1989年 2528 3765
僱員補償及福利
941 1223 2,024 2627
其他運營費用
543 1246 1111 2450
財產和設備折舊
8個個 17 19個 38
使用權資產折舊
- - - 6.
無形資產攤銷
204 158 449 二百七十八
重組成本
- - 一百二十二 -
3181 4633 6253 9,164
運營虧損
(640) ) (1,393 ) (2,021 ) (3210 )
財政收入
7. 22 5. 18
融資成本
(6) ) (10 ) (11 ) (48) )
所得稅前虧損
(639 ) (1,381 ) (2,027 ) (3240) )
淨虧損
(639 ) (1,381 ) (2,027 ) (3240) )
每股虧損:
基本的和稀釋的
(0.01 ) (0.02 ) (0.03 ) (0.05 )

EQ Inc.
Unaudited Condensed Consolidated Interim Statements of Cash Flows
(In thousands of Canadian dollars)
Six months ended June 30, 2023 and 2022

EQ Inc.
未經審計的現金流量表簡明合併中期報表
(單位:千加元)
截至2023年6月30日和2022年6月30日的六個月

2023 2022
Cash flows from operating activities:
Net loss
(2,027 ) (3,240 )
Adjustments to reconcile net loss to net cash flows
from operating activities:
Depreciation of property and equipment
19 38
Depreciation of right-of-use asset
- 6
Amortization of intangible assets
449 278
Share-based payments
30 132
Unrealized foreign exchange loss (gain)
1 (7 )
Finance costs (income), net
(5 ) 30
Change in non-cash operating working capital
1,008 67
Net cash used in operating activities
(525 ) (2,696 )
Cash flows from financing activities:
Repayment of obligations under property lease
- (45 )
Proceeds from exercise of stock options
26 -
Net cash from (used in) financing activities
26 (45 )
Cash flows from investing activities:
Interest income received
5 17
Purchases of property and equipment
- (17 )
Addition of intangible assets
(300 ) (300 )
Net cash used in investing activities
(295 ) (300 )
Decrease in cash
(794 ) (3,041 )
Foreign exchange gain (loss) on cash held in foreign currency
(1 ) 7
Cash, beginning of the period
1,253 8,763
Cash, end of the period
$ 458 $ 5,729
2023年年 2022
經營活動的現金流:
淨虧損
(2,027 ) (3240) )
調整以調節淨虧損與淨現金流量
從經營活動中:
財產和設備折舊
19個 38
使用權資產折舊
- 6.
無形資產攤銷
449 二百七十八
基於股份的支付
30個 132
未實現匯兌損失(收益)
1 (7) )
財務成本(收入),淨額
(5) ) 30個
非現金營運周轉金變動
1008 67
用於經營活動的現金淨額
(525 ) (2696 )
融資活動的現金流:
償還財產租賃項下的債務
- (45) )
行使股票期權所得收益
26 -
融資活動所得(用於)現金淨額
26 (45) )
投資活動產生的現金流:
收到的利息收入
5. 17
購置財產和設備
- (17) )
增加無形資產
(300) ) (300) )
用於投資活動的現金淨額
(295) ) (300) )
現金減少
(794) ) (3,041 )
持有外幣現金的匯兌損益
(1 ) 7.
期初現金
1253 8763
現金,期末
$ 四百五十八 $ 5729

SOURCE: EQ Inc.

資料來源:EQ Inc.


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