Quotient Technology Inc. (QUOT) saw its loss widen to $11.31 million, or $0.13 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $9.82 million, or $0.12 a share.
Revenue during the quarter grew 17.71 percent to $66.47 million from $56.47 million in the previous year period. Gross margin for the quarter contracted 1251 basis points over the previous year period to 47.16 percent. Operating margin for the quarter stood at negative 17.50 percent as compared to a negative 17.26 percent for the previous year period.
Operating loss for the quarter was $11.63 million, compared with an operating loss of $9.75 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $8.78 million compared with $2.19 million in the prior year period. At the same time, adjusted EBITDA margin improved 934 basis points in the quarter to 13.21 percent from 3.87 percent in the last year period.
"We delivered strong third quarter results, highlighted by record volume across the network and increased digital marketing by many of our retail and CPG partners. We also signed new partnerships that expand our digital distribution and solidify us as a leading platform for digital promotions and media," said Steven Boal, chief executive officer of Quotient. "Greater scale on and off our Owned and Operated properties creates additional opportunities as we continue to invest in Quotient Insights, using shopper data to tie sales to media campaigns."
For fiscal year 2016, Quotient Technology Inc. forecasts revenue to be in the range of $267.80 million to $270.80 million.
For the fourth-quarter 2016, Quotient Technology Inc. forecasts revenue to be in the range of $68 million to $71 million.
Operating cash flow improves significantly
Quotient Technology Inc. has generated cash of $8.98 million from operating activities during the nine month period, up 62.36 percent or $3.45 million, when compared with the last year period.
The company has spent $49.18 million cash to meet investing activities during the nine month period as against cash outgo of $4.89 million in the last year period.
The company has spent $2.24 million cash to carry out financing activities during the nine month period as against cash outgo of $11.74 million in the last year period.
Cash and cash equivalents stood at $92.50 million as on Sep. 30, 2016, down 51.31 percent or $97.49 million from $189.99 million on Sep. 30, 2015.
Working capital decreases marginally
Quotient Technology Inc. has witnessed a decline in the working capital over the last year. It stood at $195.19 million as at Sep. 30, 2016, down 3.85 percent or $7.81 million from $203 million on Sep. 30, 2015. Current ratio was at 5.69 as on Sep. 30, 2016, up from 5.34 on Sep. 30, 2015.
Days sales outstanding went down to 80 days for the quarter compared with 83 days for the same period last year.
At the same time, days payable outstanding went down to 21 days for the quarter from 39 for the same period last year.
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