MaxPoint Interactive, Inc. (MXPT) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $2.50 million, or $ 0.37 a share in the quarter, against a net loss of $4.63 million, or $0.71 a share in the last year period. On an adjusted basis, net profit for the quarter stood at $3.90 million, or $0.58 a share compared with a net loss of $3.53 million, or $0.54 a share in the last year period.
Revenue during the quarter grew 12.95 percent to $46.30 million from $40.99 million in the previous year period. Gross margin for the quarter expanded 287 basis points over the previous year period to 54.66 percent. Operating margin for the quarter period stood at positive 5.92 percent as compared to a negative 10.81 percent for the previous year period.
Operating income for the quarter was $2.74 million, compared with an operating loss of $4.43 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $6.80 million compared to negative $1.52 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 14.69 percent for the quarter compared to negative 3.72 percent in the last year period.
"We ended 2016 exceeding our revenue ex-TAC and adjusted EBITDA expectations and executed strongly against all of our strategic objectives," said Joe Epperson, MaxPoint's Co-Founder & chief executive officer. "We enter 2017 with a solid foundation to build upon to realize our vision and achieve adjusted EBITDA profitability in 2017."
For financial year 2017, MaxPoint Interactive, Inc. expects revenue to be in the range of $101 million to $105 million.
For the first-quarter 2017, MaxPoint Interactive, Inc. expects revenue to be in the range of $18 million to $19.20 million.
Operating cash flow remains negative
MaxPoint Interactive, Inc. has spent $5.85 million cash to meet operating activities during the year as against cash outgo of $14.68 million in the last year.
The company has spent $7.55 million cash to meet investing activities during the year as against cash outgo of $11.92 million in the last year.
The company has spent $3.47 million cash to carry out financing activities during the year as against cash inflow of $54.81 million in the last year period.
Cash and cash equivalents stood at $24.22 million as on Dec. 31, 2016, down 41.13 percent or $16.92 million from $41.14 million on Dec. 31, 2015.
Working capital drops significantly
MaxPoint Interactive, Inc. has witnessed a decline in the working capital over the last year. It stood at $19.58 million as at Dec. 31, 2016, down 40.64 percent or $13.41 million from $32.99 million on Dec. 31, 2015. Current ratio was at 1.40 as on Dec. 31, 2016, down from 1.60 on Dec. 31, 2015.
Days sales outstanding went down to 43 days for the quarter compared with 49 days for the same period last year.
At the same time, days payable outstanding went down to 28 days for the quarter from 35 for the same period last year.
Debt comes down
MaxPoint Interactive, Inc. has recorded a decline in total debt over the last one year. It stood at $27.49 million as on Dec. 31, 2016, down 11.96 percent or $3.74 million from $31.22 million on Dec. 31, 2015. MaxPoint Interactive, Inc. has recorded a decline in short-term debt over the last one year. It stood at $27.49 million as on Dec. 31, 2016, down 11.96 percent or $3.74 million from $31.22 million on Dec. 31, 2015. Total debt was 30.78 percent of total assets as on Dec. 31, 2016, compared with 29.10 percent on Dec. 31, 2015. Debt to equity ratio was at 0.71 as on Dec. 31, 2016, up from 0.60 as on Dec. 31, 2015.
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