MaxPoint Interactive, Inc. (MXPT) saw its loss narrow to $2.93 million, or $0.44 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $4.80 million, or $0.74 a share. On the other hand, adjusted net loss for the quarter narrowed to $1.92 million, or $0.29 a share from a loss of $3.75 million or $0.58 a share, a year ago.
Revenue during the quarter grew 4.03 percent to $37.42 million from $35.97 million in the previous year period. Gross margin for the quarter expanded 76 basis points over the previous year period to 52.90 percent. Operating margin for the quarter stood at negative 7.11 percent as compared to a negative 12.80 percent for the previous year period.
Operating loss for the quarter was $2.66 million, compared with an operating loss of $4.60 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.88 million compared to negative $1.92 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 2.35 percent for the quarter compared to negative 5.35 percent in the last year period.
"We executed strongly against our strategic plans during the quarter and our third quarter results provide increased confidence in our ability to achieve adjusted EBITDA profitability in 2017,” said Joe Epperson, MaxPoint's Co-founder and chief executive officer. "We have a solid plan and continue to execute against our broader vision, launching two new products, Customer Catalyst and PathPoint, during the quarter. Customer Catalyst reimagines the standard CRM marketing model by accurately matching physical addresses to digital audiences and enhancing existing customer data with real-time purchase intent and location history. PathPoint, a groundbreaking solution for in-store consumer pathing and insights, enables retailers to be competitive with their ecommerce counterparts by providing that same level of customer pathing intelligence formerly exclusive to online retailers. These new products, and our third quarter results, further demonstrate MaxPoint’s commitment to inspiring transformational changes in how our clients go to market and bring us one step closer to realizing our vision."
For the fourth-quarter, MaxPoint Interactive, Inc. expects revenue to be in the range of $25.50 million to $29.50 million.
For financial year 2016, MaxPoint Interactive, Inc. expects revenue to be in the range of $93 million to $97 million.
Operating cash flow remains negativeMaxPoint Interactive, Inc. has spent $6.93 million cash to meet operating activities during the nine month period as against cash outgo of $4.42 million in the last year period. The company has spent $5.07 million cash to meet investing activities during the nine month period as against cash outgo of $10.23 million in the last year period.
The company has spent $4.97 million cash to carry out financing activities during the nine month period as against cash inflow of $50.57 million in the last year period.
Cash and cash equivalents stood at $24.12 million as on Sep. 30, 2016, down 50.63 percent or $24.74 million from $48.86 million on Sep. 30, 2015.
Working capital drops significantly
MaxPoint Interactive, Inc. has witnessed a decline in the working capital over the last year. It stood at $15.64 million as at Sep. 30, 2016, down 56.75 percent or $20.53 million from $36.17 million on Sep. 30, 2015. Current ratio was at 1.34 as on Sep. 30, 2016, down from 1.68 on Sep. 30, 2015.
Days sales outstanding went down to 86 days for the quarter compared with 89 days for the same period last year.
At the same time, days payable outstanding went down to 69 days for the quarter from 82 for the same period last year.
Debt comes downMaxPoint Interactive, Inc. has recorded a decline in total debt over the last one year. It stood at $26.12 million as on Sep. 30, 2016, down 5.43 percent or $1.50 million from $27.62 million on Sep. 30, 2015. MaxPoint Interactive, Inc. has recorded a decline in short-term debt over the last one year. It stood at $26.12 million as on Sep. 30, 2016, down 5.43 percent or $1.50 million from $27.62 million on Sep. 30, 2015. Total debt was 32.11 percent of total assets as on Sep. 30, 2016, compared with 25.43 percent on Sep. 30, 2015. Debt to equity ratio was at 0.76 as on Sep. 30, 2016, up from 0.51 as on Sep. 30, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
