Business
Monexa Technologies Corp Reports 2009 Operating Results
Monexa Technologies Corp Reports 2009 Operating Results
About this update from Santa Rosa Resources Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Apr. 22, 2010 (Canada NewsWire Group) -- /CNW/ -- Monexa Technologies Corp. (TSX-Venture: MXA) today announced its quarterly and annual financial results for the year ended December 31, 2009.For the year ended December 31, 2009 revenue was $4.2M, a 26% decrease compared to $5.7M for the year ended December 31, 2008 and the net loss increased to ($1.7M) from ($939K) for 2008.For the quarter ended December 31, 2009 revenue was $903K as compared to $1.4M in the corresponding period in 2008. The net loss for the quarter was ($628K) as compared to a ($238K) net loss in the prior comparable quarter in 2008. EBITDA loss was ($593K), up from ($199K) loss in the corresponding quarter in 2008.John Jacobson, President and CEO said \"The emerging Cloud Computing and Software-as-a-Service (\"SaaS\") market continues to expand, producing a new annual record number of signed revenue contracts and reseller agreements in 2009. We're aggressively pursuing new customers. To provide the necessary funding, we raised $1.6M during 2009 and in 2010.\"Achievements in 2009:- Rebranded the company \"Monexa Technologies Corp.\" to better reflectthe strategy of monetization for cloud computing and SaaSapplications.- Introduced a new user interface and API for Monexa Billing on demand,and added numerous new features.- In Q3 and Q4 2009, closed a non-brokered private placement of 10.4Mshares for total net proceeds of $1.2M to fund new customeracquisition.- Acquired a record number of new customers in 2009.- Achieved Level 1 certification to Payment Card Industry Data SecurityStandard (PCI-DSS) and completed the implementation of a newtransaction interface to the Canadian and US banking systems. Monexacan now process all of its customers' payments through its own PCI-DSS compliant data centre.- The company reduced operating costs and increased efficiency byimplementing a new customer service strategy and partnership thatcontributed to increasing the Gross Margin percentage by 7% (2009 46%vs. 2008 39%).Non-GAAP measuresEBITDA is a key measure used by management to evaluate the Company's performance. Management believes that EBITDA is useful as it provides an indication of the results generated by the Company's business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consi...