MONTREAL, QC--(Marketwired - August 22, 2017) - Engagement Labs Inc. (TSX VENTURE: EL) today released results for its second quarter ended June 30, 2017. Condensed interim consolidated Financial Statements and Management Report are available on SEDAR's website at www.sedar.com.
Company update: Improved revenue from continuing operations, new bookings totaling $1.86 million, improved gross margin and improved non-GAAP Adjusted EBITDA loss on a year-over-year comparison
Second Quarter Financial Highlights
Mr. Keller added: "The Company's singular focus on TotalSocial has gained significant momentum in Q2. We announced the launch of our predictive analytics capability (TotalSocial Predict), which represents a major enhancement to the TotalSocial technology platform. Our marketing and PR efforts have helped to raise awareness of Engagement Labs in the US and the UK, and have raised the profile of TotalSocial within our target audience. This had led to encouraging sales momentum for us in Q2, and other opportunities we have in the pipeline that give me optimism that we are on a good track. We now have leading brands as TotalSocial clients across a growing range of sectors, including: media, beauty, telecom, food, financial services and software. And lastly, our substantial cost reductions in 2016 have allowed us to improve our gross margins and reduce our losses, thus putting our cost base on a firmer footing."
About Engagement Labs
Engagement Labs (TSX VENTURE: EL) provides the world's leading brands with a unique and powerful way to drive sales and improve marketing ROI. Our TotalSocial® technology combines social media listening metrics with the world's only ongoing measure of offline word of mouth into a single dashboard, to allow marketers the ability to measure performance, diagnose areas of weakness and opportunity, and identify specific strategies and tactics to increase sales and improve marketing ROI. Our proprietary predictive analytics tie TotalSocial metrics to critical business outcomes. Engagement Labs has offices in the US, the UK and Canada.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. Except as required by law, Engagement Labs does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For media inquiries please contact:
KCSA Strategic Communications
[email protected] / [email protected]
212-896-1252 / 212-896-1207
Ed Keller
CEO
Engagement Labs
[email protected]
732.846.6800