SRAX Reports Second Quarter of 2018
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Social Reality (SRAX) Reports Q3 Loss of $0.29, Revenues Miss
August 14, 2018 9:22 AM EDTSocial Reality (NASDAQ: SRAX) reported Q3 EPS of ($0.29), versus ($0.05) reported last year. Revenue for the quarter came in at $4.7 million versus the consensus estimate of $6.49 million.
Gross revenue was $4.7 million, compared to $5.9 million in the second quarter of 2017, which included high volume, low-margin revenue.Gross margin was 72%, compared to gross margin of 56% in the year ago quarter.Operating expenses were $5.4 million, compared to $3.3 million, reflecting a one-time $860,000 non-cash consulting fee paid in stock and ongoing headcount additions.Net loss was $3.0 million, which, in addition to the aforementioned consulting fee, included a one-time... More