Toronto (February 14, 2019) — NexJ Systems Inc. (TSX: NXJ), the pioneer of intelligent customer management software for the financial services industry, today announced financial results for its fourth quarter ended December 31, 2018.
- $6.2M of revenue for the fourth quarter is similar to the same period in the prior year
- $170K in Adjusted EBITDA loss for the fourth quarter is a $322K improvement over $492K in Adjusted EBITDA loss for the same period in the prior year
- $15K of net income for the fourth quarter is a $704K improvement over the net loss of $689K for the same period in the prior year
- $22.4M in revenue for the year represents 18% decrease over the prior year
- $3.3M in Adjusted EBITDA loss for the year as compared to Adjusted EBITDA of $27K for the prior year
- $3.9M in net loss for the year as compared to net loss of $1.9M in the prior year
“In my first two quarters as CEO, our primary focus has been on customer acquisition and retention and we are encouraged that more prospects are engaging in our sales process. We intend to continue concentrating on these areas in 2019 and beyond,” said Paul O’Donnell, CEO, NexJ Systems Inc. “As a software company, we have placed high priority on accelerating our strategic product development initiatives and have optimized the resource allocation to research and development from professional services. Whilst this may lead to a short term revenue impact from our professional services activities, this will ultimately secure higher valuation and return for shareholders.”
Conference Call Information
NexJ will be hosting an earnings report conference call on February 14, 2019 at 5:00 p.m. ET. The call can be accessed via webcast or by phone by dialing 1- 416-764-8609 (Toronto local or international) or 1-888-390-0605 (North America Toll Free). Investors should dial in approximately 10 minutes before the teleconference is scheduled to begin.
A replay of the call will be available beginning on February 14, 2019 at 8:00 p.m. ET through 11:59 p.m. on February 21, 2019 and can be accessed by dialing 416-764-8677 (Toronto local) or toll-free at 1-888-390-0541 and using password 971713 #.