Business
Route1 Announces Q3 2021 Financial Results
TORONTO, ON / ACCESSWIRE / November 22, 2021 / Route1 Inc . (OTCQB:ROIUF)(TSXV:ROI) (the "C...
About this update from Route1 Inc.
[{"type":"text","content":"Route1 Announces Q3 2021 Financial ResultsTORONTO, ON / ACCESSWIRE / November 22, 2021 / Route1 Inc. (OTCQB:ROIUF)(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 and nine-month periods ended September 30, 2021.The Company's operating results for Q3 2021 with comparatives are as follows:Statement of operationsIn 000s of CAD dollars Q32021 Q22021 Q12021 Q42020 Q32020 Q22020 Revenue Subscription and services 2,297 2,671 2,758 2,528 2,599 2,489 Devices and appliances 4,960 3,663 3,786 4,637 6,523 4,477 Other 31 4 67 62 25 3 Total revenue 7,288 6,338 6,611 7,227 9,147 6,969 Cost of revenue 4,696 3,443 3,647 4,315 6,134 4,188 Gross profit 2,592 2,895 2,964 2,912 3,013 2,781 Operating expenses 2,437 2,451 2,542 2,469 2,562 2,570 Operating profit 1 155 444 422 443 451 211 Patent litigation 2 0 0 0 1,058 381 67 Total other expenses 3 216 (17) 284 321 598 204 Net income (loss) (61) 461 138 (936) (528) (60)1 Before stock-based compensation2 For FY 2020, the Company incurred expenses for patent litigation net of the reversal of an accounting liability reflecting the funds the Company received from its litigation funding agreement. The Company has concluded the litigation with VMWare in both Canada and the United States and will incur no additional expense for this litigation.3 Includes gain on litigation, gain or loss on asset disposal, stock-based compensation expense, interest expense, income tax recovery, foreign exchange loss or gain, other expenses and acquisition expense.Subscription and services revenuein 000s of CAD dollars Q32021 Q22021 Q12021 Q42020 Q32020 Q22020 Application software 1,628 1,724 1,977 2,015 1,923 1,665 Technology as a service (TaaS) 150 435 293 204 241 315 Other services 519 512 488 309 435 509 Total 2,297 2,671 2,758 2,528 2,599 2,489 Adjusted EBITDAin 000s of CAD dollars Q32021 Q22021 Q12021 Q42020 Q32020 Q22020 Gross Profit 2,592 2,895 2,964 2,912 3,013 2,781 Adjusted EBITDA 4 465 760 764 768 778 556 Amortization 310 316 342 325 327 346 Operating profit 155 444 422 443 451 211 Trailing 12 Months Adjusted EBITDAin 000s of CAD dollars Q32021 Q22021 Q12021 Q42020 Q32020 Q22020 Adjusted EBITDA 4 2,757 3,070 2,865 2,459 2,368 2,332 4 Adjusted EBITDA is defined as earnings before interest...