Business
Route1 Announces Q1 2020 Financial Results
TORONTO, ON / ACCESSWIRE / May 26, 2020 / Route1 Inc . (OTCQB:ROIUF) and (TSXV:ROI) (the "C...
About this update from Route1 Inc.
[{"type":"text","content":"Route1 Announces Q1 2020 Financial ResultsTORONTO, ON / ACCESSWIRE / May 26, 2020 / Route1 Inc. (OTCQB:ROIUF) and (TSXV:ROI) (the \"Company\" or \"Route1\"), an advanced North American provider of data-centric business empowerment solutions, today reported its financial results for the three-month period ended March 31, 2020.Statement of operationsIn 000s of CAD dollars Q12020 Q42019 Q32019 Q22019 Q12019 Q42018 Revenue Subscription and services 1,958 2,511 2,136 1,610 1,576 1,628 Devices and appliances 4,401 5,891 6,576 1,819 1,883 2,440 Other 4 1 2 1 3 6 Total revenue 6,363 8,403 8,714 3,430 3,462 4,074 Cost of revenue 3,997 5,653 5,953 1,672 1,700 2,216 Gross profit 2,366 2,750 2,761 1,758 1,762 1,858 Operating expenses 2,334 2,360 2,336 1,824 1,694 1,714 Operating profit (loss) 1 32 390 425 (66) 68 144 Total other expenses 2, 3 215 (120) 424 487 580 499 Net income (loss) (183) 510 1 (553) (512) (355)1 Before stock-based compensation2 Includes stock-based compensation, AirWatch litigation, gain on acquisition and foreign exchange3 The reimbursements received from Bench Walk pursuant to its investment have been accounted for as a long-term non-monetary liability within the consolidated financial statements, not as a reduction to patent litigation expense. All such amounts are non-recourse to the Company. In connection with the terms of the agreement, the Company does not have a present obligation to pay any amounts until such time as the litigation has been settled or an event of default has occurred. In the event of an award or settlement of the litigation, the Company will be obligated to pay Bench Walk the greater of 10% of such award or settlement and $2,000,000 or $3,000,000 if the litigation proceeds to trial.Subscription and services revenuein 000s of CAD dollars Q12020 Q42019 Q32019 Q22019 Q12019 Q42018 Application software 1,217 1,202 1,182 1,196 1,186 1,169 Technology as a service (TaaS) 321 353 322 311 307 329 Other services 420 956 632 103 83 130 Total 1,958 2,511 2,136 1,610 1,576 1,628 Adjusted EBITDAin 000s of CAD dollars Q12020 Q42019 Q32019 Q22019 Q12019 Q42018 Gross Profit 2,366 2,750 2,761 1,758 1,762 1,858 Adjusted EBITDA 4 358 676 743 200 322 331 Amortization 326 286 318 266 254 187 Operating profit (loss) 32 390 425 (66) 68 144 4 Adjusted EBITDA is defined as earnings before interest, income taxes, depreci...