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QYOU Media Reports Record Q1 FY 2024 Results
QYOU Media Reports Record Q1 FY 2024 Results Canada NewsWire Highest Revenue ...
About this update from Qyou Media, Inc.
[{"type":"text","content":"\n \n \n \n QYOU Media Reports Record Q1 FY 2024 Results\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 Highest Revenue Quarter in Company History Includes YOY Adjusted EBITDA* Improvement of 36%\n \n \n \n \n \n TORONTO\n \n ,\n \n MUMBAI, India\n \n and\n \n LOS ANGELES\n \n \n ,\n \n \n May 30, 2024\n \n \n /CNW/ - QYOU Media Inc., (TSXV:\n \n QYOU\n \n ) (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 financial results for the quarter ended\n \n March 31\n \n , 2024.  Highlights include as follows:\n \n \n \n \n \n \n \n \n \n \n \n Record Revenue\n \n : The company recorded quarterly revenue of\n \n $8,227,089\n \n representing the highest quarterly revenue mark in corporate history.  This was driven by strong results for QYOU\n \n USA\n \n , along with the beginning of revenue contribution from the direct-to-consumer gaming business in India.  Revenue on  a YOY basis increased by\n \n $1,180,640\n \n or 17%.\n \n \n \n Improved Adjusted EBITDA*\n \n : For the three months ended\n \n March 31, 2024\n \n compared to same period prior year, Adjusted EBITDA improved by\n \n $276,654\n \n or 36% driven by QYOU\n \n USA's\n \n strong revenue growth and a meaningful return on strategic investment in the gaming segment, digital channels, workforce and new relationships in the social media space.\n \n \n \n Improved Net Loss\n \n : For the three months ended\n \n March 31, 2024\n \n , net loss improved by\n \n $146,854\n \n or 10% compared to the same period prior year, most significantly driven by strong revenue growth offset by an increase in workforce and other operating expenses associated with building the gaming segment and new relationships in the social media space.\n \n \n \n Improved Cash Balance:\n \n The Company concluded the three months ended\n \n March 31, 2024\n \n with cash of\n \n $1,615,481\n \n (2023 -\n \n $736,7...