Business
QYOU Media FY Q1 2022 Revenue Increases YOY Over 10 Times from $390,000 to $4.7 Million and 81% Over Previous Quarter
QYOU Media FY Q1 2022 Revenue Increases YOY Over 10 Times from $390,000 to $4.7 Million a...
About this update from Qyou Media, Inc.
[{"type":"text","content":"\n \n \n \n QYOU Media FY Q1 2022 Revenue Increases YOY Over 10 Times from $390,000 to $4.7 Million and 81% Over Previous Quarter\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n LOS ANGELES\n \n and\n \n TORONTO\n \n ,\n \n Nov. 29, 2021\n \n /CNW/ - QYOU Media Inc.,(TSXV: QYOU) (OTCQB: QYOUF) a company operating in\n \n India\n \n and\n \n the United States\n \n producing and distributing content created by social media stars and digital content creators, has reported financial results for the quarter ended\n \n September 30\n \n , 2021.  Highlights include as follows:\n \n \n \n \n \n \n \n \n \n \n Revenue for the three months ended\n \n September 30, 2021\n \n was in the range of previously announced guidance at\n \n $4,725,463\n \n up from\n \n $390,950\n \n over the same period in Q1 FY 2020 representing a YOY increase of 1109% and an increase of 81% over the preceding quarter Q4 FY 2021\n \n ($2,614,899)\n \n . This revenue growth was primarily driven by increased ad sales in\n \n India\n \n on the flagship channel, The Q, along with strong performance by the QYOU\n \n USA\n \n and Chtrbox Influencer Marketing business units.\n \n \n Net loss before income taxes was to\n \n $2,352,297\n \n as compared to\n \n $1,149,333\n \n for the three months ended\n \n September 30, 2021\n \n inclusive of non-cash share based compensation of\n \n $1,048,816\n \n . Net loss also increased as a result of investment into personnel, content and distribution to support growth and expansion in the\n \n India\n \n business along with the non-cash share based compensation.\n \n \n Cash on hand as of\n \n September 30, 2021\n \n was\n \n $7,769,599\n \n as compared to\n \n $9,026,915\n \n at\n \n June 30, 2021\n \n representing a decrease of\n \n $1,259\n \n , 316.\n \n \n \n QYOU Media CEO and Co-Founder,\n \n Curt Marvis\n \n commented, \"We are thrilled with the continued strong revenue growth of the business. We are continuing to invest in that growth as we firmly establish ourselves as one of the leading brands for Young India...