SITO Mobile Ltd. (SITO) saw its loss widen to $1.35 million, or $0.07 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $0.44 million, or $0.03 a share.
Revenue during the quarter surged 33.58 percent to $7.46 million from $5.58 million in the previous year period. Gross margin for the quarter expanded 218 basis points over the previous year period to 51.88 percent. Operating margin for the quarter stood at negative 14.08 percent as compared to a negative 12.45 percent for the previous year period.
Operating loss for the quarter was $1.05 million, compared with an operating loss of $0.70 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.30 million compared to negative $0.23 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 4.06 percent for the quarter compared to negative 4.14 percent in the last year period.
"Our 138% year-over-year growth in Media Placement revenue, combined with our bullish outlook highlights the complete transformation SITO Mobile has made, from a declining SMS business to a fast-growing mobile media technology and data company," said Rory O'Connell, Interim chief executive officer of SITO Mobile.
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