bbsn27 May 2017 13:18
may have a lot of money but, they are losing money fast
Net Revenue has increased by 22% to £17.7 million (2015: £14.6 million). Growth was focussed in H1 2016 (38% growth versus the same period in 2015), centred around the Euro 2016 football tournament, and slipped in H2 2016 (7% growth versus the same period in 2015)
? Gross Profit has risen by 26% to £7.7 million (2015: £6.1 million)
? A material share of the revenue growth versus 2015, £4.1 million (128% growth) was from a low margin revenue stream, earning less than 10% Gross Profit. This activity is expected to cease in 2017
? EBITDA loss has reduced by 74% to £3.5 million (2015: £13.6 million). This includes the benefit of a £1.4 million foreign exchange gain (2015: £0.2m loss)
? Cash outflow from operating activities has reduced by 46% to £4.5 million (2015: £8.3 million)
? The Group now has offices in 3 locations (2015: 9)
? The Group completed a £10 million fundraise (before expenses) on 6 January 2016
? The Group continues its commitment to the APAC region with increased headcount and the formation of a legal entity, Brave Bison Asia Pacific Pte.
? Headcount at year-end including contractors has reduced by 44% to 81 (2015: 144