Business
QYOU Media Reports All Time Record Revenue in Q2 2022
QYOU Media Reports All Time Record Revenue in Q2 2022 Canada NewsWire ...
About this update from Qyou Media, Inc.
[{"type":"text","content":"\n \n \n \n QYOU Media Reports All Time Record Revenue in Q2 2022\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n All Business Units Achieve Record Revenue Totaling\n \n $6.88\n \n Million\n \n \n \n \n YOY Revenue Growth of 163% and Adjusted\n \n \n \n EBITDA Improvement of 33%\n \n \n \n \n \n TORONTO\n \n ,\n \n LOS ANGELES\n \n and\n \n MUMBAI, India\n \n \n ,\n \n \n Aug. 29, 2022\n \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,  is reporting final financial results for the quarter ended\n \n June 30, 2022\n \n . Highlights include as follows:\n \n \n \n \n \n \n \n \n \n \n \n Record Breaking Quarterly and YOY Revenue Growth:\n \n For the three months ended\n \n June 30, 2022\n \n revenue was\n \n $6,883,363\n \n representing a year over year increase of 163% and the highest revenue mark in company history.\n \n \n \n Improved Adjusted EBITDA*:\n \n For the three months ended\n \n June 30, 2022\n \n compared to the same period prior year, adjusted EBITDA loss was\n \n $1,348,082\n \n representing an EBITDA improvement of\n \n $666,223\n \n or 33% driven by the revenue growth offset by higher operating expenses related to the growth of the business across all operating business units.\n \n \n \n Net Loss\n \n : Net loss for the quarter is\n \n $3,297,014\n \n , an increase of 7% or\n \n $210,362\n \n driven by revenue growth across all business units offset by the launch of new channels and programming. In addition to the EBITDA loss, the Net loss includes income tax provisions of\n \n $35,760\n \n and non-cash losses from share based compensation, marketing credits and amortization of\n \n $1,913,172\n \n .\n \n \n \n Cash Balance:\n \n The Company concluded the three months ended\n \n June 30, 2022\n \n with cash of\n \n $4,181,414\n \n (compared to\n \n March 31, 2022\n \n cash of\n \n $5,082,637\n \n ...