Business
Route1 Announces Q4 and Full Year 2019 Financial Results
TORONTO, CANADA / ACCESSWIRE / April 23, 2020 / Route1 Inc . (OTCQB:ROIUF)(TSXV:ROI) (the "...
About this update from Route1 Inc.
[{"type":"text","content":"Route1 Announces Q4 and Full Year 2019 Financial ResultsTORONTO, CANADA / ACCESSWIRE / April 23, 2020 / 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 twelve-month periods ended December 31, 2019.Q4 2019 Financial ResultsStatement of operationsIn 000s of CAD dollars Q42019 Q32019 Q22019 Q12019 Q42018 Q32018 Revenue Subscription and services 2,511 2,136 1,610 1,576 1,628 1,684 Devices and appliances 5,891 6,576 1,819 1,883 2,440 13,207 Other 1 2 1 3 6 4 Total revenue 8,403 8,714 3,430 3,462 4,074 14,895 Cost of revenue 5,653 5,953 1,672 1,700 2,216 12,311 Gross profit 2,750 2,761 1,758 1,762 1,858 2,584 Operating expenses 2,360 2,336 1,824 1,694 1,714 2,150 Operating profit (loss) 1 390 425 (66) 68 144 434 Total other expenses 2, 3 (120) 424 487 580 499 246 Net income - (loss) 510 1 (553) (512) (355) 188 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 Q42019 Q32019 Q22019 Q12019 Q42018 Q32018 Application software 1,202 1,182 1,196 1,186 1,169 1,193 Technology as a service (TaaS) 353 322 311 307 329 289 Other services 956 632 103 83 130 203 Total 2,511 2,136 1,610 1,576 1,628 1,684 Adjusted EBITDAin 000s of CAD dollars Q42019 Q32019 Q22019 Q12019 Q42018 Q32018 Gross Profit 2,750 2,761 1,758 1,762 1,858 2,584 Adjusted EBITDA 4 676 743 200 322 331 627 Amortization 286 318 266 254 187 193 Operating profit (loss) 390 425 (66) 68 144 434 4 Adjusted EBITDA...