MaxPoint Interactive, Inc. (MXPT) saw its loss narrow to $9.23 million, or $1.39 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $10.73 million, or $1.63 a share. On the other hand, adjusted net loss for the quarter narrowed to $7.78 million, or $1.17 a share from a loss of $9.70 million or $1.48 a share, a year ago.
Revenue during the quarter dropped 5.42 percent to $27.85 million from $29.45 million in the previous year period. Gross margin for the quarter expanded 164 basis points over the previous year period to 51.62 percent. Operating margin for the quarter stood at negative 32.46 percent as compared to a negative 35.50 percent for the previous year period.
Operating loss for the quarter was $9.04 million, compared with an operating loss of $10.46 million in the previous year period.
Adjusted EBITDA for the quarter stood at negative $4.93 million compared to negative $7.18 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 17.71 percent for the quarter compared to negative 24.39 percent in the last year period.
"We're off to a good start to the year, delivering Q1 revenue ex-TAC and adjusted EBITDA at the high end of our guidance while making progress against our strategic objectives," said Joe Epperson, MaxPoint's Co-founder and chief executive officer. "During the quarter, we continued to expand the reach of our data and intelligence across the entire marketing stack with new and expanded partnership agreements, while improving adjusted EBITDA by over $2 million year over year. We enter 2017 with further confidence in our ability to be adjusted EBITDA positive this year and cash flow positive in 2018."
For the second-quarter 2017, MaxPoint Interactive, Inc. projects revenue to be in the range of $23 million to $25 million.
Operating cash flow turns positive
MaxPoint Interactive, Inc. has generated cash of $7.46 million from operating activities during the quarter as against cash outgo of $0.90 million in the last year period.
The company has spent $2.08 million cash to meet investing activities during the quarter as against cash outgo of $0.90 million in the last year period.
The company has spent $9.22 million cash to carry out financing activities during the quarter as against cash outgo of $5.90 million in the last year period.
Cash and cash equivalents stood at $20.38 million as on Mar. 31, 2017, down 39.04 percent or $13.05 million from $33.43 million on Mar. 31, 2016.
Working capital drops significantly
MaxPoint Interactive, Inc. has witnessed a decline in the working capital over the last year. It stood at $11.98 million as at Mar. 31, 2017, down 47.78 percent or $10.96 million from $22.94 million on Mar. 31, 2016. Current ratio was at 1.33 as on Mar. 31, 2017, down from 1.51 on Mar. 31, 2016.
Days sales outstanding went down to 112 days for the quarter compared with 116 days for the same period last year.
At the same time, days payable outstanding went up to 80 days for the quarter from 78 for the same period last year.
Debt comes down significantly
MaxPoint Interactive, Inc. has recorded a decline in total debt over the last one year. It stood at $18.64 million as on Mar. 31, 2017, down 26.38 percent or $6.68 million from $25.32 million on Mar. 31, 2016. MaxPoint Interactive, Inc. has recorded a decline in short-term debt over the last one year. It stood at $18.64 million as on Mar. 31, 2017, down 26.38 percent or $6.68 million from $25.32 million on Mar. 31, 2016. Total debt was 27.47 percent of total assets as on Mar. 31, 2017, compared with 28.69 percent on Mar. 31, 2016. Debt to equity ratio was at 0.61 as on Mar. 31, 2017, up from 0.60 as on Mar. 31, 2016.
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