The Digital Box reports record results for the second Quarter and for first half 2017
Strong market traction and growth confirmed
All figures in K(000)€
Gravina in Puglia, Italy, July 22 2017
The Digital Box, the leading provider of ADA, an AI-based Mobile Engagement Automation Platform, today announced the preliminary financial results for its second quarter 2017.
Net Bookings* were 1.684K€, an exceptional increase of 243% compared to the second Quarter of 2016, a 22% linear growth from the prior Quarter and in line with the Company aggressive plan to exceed 100% growth for the year.
Overall costs were below budget with a resulting group EBITDA of 336K€, a 941% growth from the second Quarter 2016.
For the First Half the Digital Box Bookings reached 3.067K€, 166% growth compared with the First Half of 2016 and above our 12 months results for fiscal 2016. Costs were 2516K€ and EBIDTA for the first Half of 2017 was 551K€ respectively -12%% and +198% of our plan.
Both Q2 and 1Half 2017 were new company records by a large margin if compared with prior Quarters and Halves.
The management team, is cautious entering the third quarter 2017, traditionally the weakest quarter in the Company historical performance but remains confident with the projection, that targets top line growth from 2016 to 2017 slightly above the 100% range.
“We are getting strong traction in all the geographies where we operate and a strong signal from the market that ADA is hitting the right target in both SME and large Retailers where we focus our activity.” said Marco Landi President of The Digital Box Board.
The Digital Box Group – Profit & Loss for Q2-2017 (All figures in K€)
Cost of Sales
The Digital Box Group – Profit & Loss for 1st half 2017 (All figures in K€)
Cost of Sales
The Digital Box was founded in 2013 in Puglia, Italy by a group of Marketing Visionaries. The Company has developed ADA, an AI Based Digital Marketing Engagement and Automation Platform designed for the Mobile. Propelled by a unique and very comprehensive technology, a highly profitable and scalable sales model based on a network of resellers and the focus of the mobile, The Digital Box has grown very rapidly and expanded its operation in Europe and Latin America. With ADA the Digital Box Users can generate more leads, more lead conversions, more revenues at a lower cost and, more intelligence on their client buying patterns to help them secure their loyalty.
The Company has established a solid presence in Italy, Spain, UK, Latin America, France and in 2017 has incorporated in the USA, completed the acquisition of 3 large Resellers in Italy and made a strategic technology acquisition in the AI field. Led by a strong and proven Management team in 2017 and beyond the Company plans to expand sales activities in Northern Europe and eventually start operations in North America.
In the financial statements above there is no application of monthly revenue recognition policies GAAP for SaaS. SaaS revenues are recognized for the first committed year after the Client signs or renews the contract and the product access is delivered. The Company believes that reporting Bookings gives a better insight on the execution of its growth strategy.
Some of the statements contained in this press release, including information incorporated by reference, future expectations, or other forward-looking information or forecasts are subject to known and unknown risks. The forward-looking information is based on various factors and was derived using numerous assumptions. In light of the risks, assumptions, and uncertainties involved, there can be no assurance that the forward-looking information contained in this document will in fact be achieved or prove to be accurate.
The Company makes no representation and undertakes no obligation to update the information to reflect actual results or changes in assumptions or other factors that could affect those statements.