Toronto (October 25, 2018) — NexJ Systems Inc. (TSX: NXJ), a provider of intelligent customer management solutions to the financial services industry, today announced financial results for its third quarter ended September 30, 2018.
- $5.3M of revenue for the third quarter as compared to $5.7M in the third quarter last year
- $686K in Adjusted EBITDA loss for the third quarter as compared to $391K of Adjusted EBITDA loss reported in the third quarter last year
- $995K of net loss for the third quarter as compared to $1.2M of net loss reported in the third quarter last year
“I am encouraged that our focus on customer retention and acquisition has led to an increase in revenue over last quarter, however, our goal remains to return to year-over-year revenue growth”, said Paul O’Donnell, CEO, NexJ Systems Inc. “We fully expect the incremental sales opportunities we are seeing will yield more positive results going forward”.
Conference Call Information
NexJ will be hosting an earnings report conference call on October 25, 2018 at 5:00 p.m. ET. The call can be accessed via webcast or by phone by dialing 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 October 25, 2018 at 8:00 p.m. ET through 11:59 p.m. on November 1, 2018 and can be accessed by dialing toll-free at 1-888-390-0541 and using password 405716.
This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.
The term “Adjusted EBITDA” refers to net income (loss) before adjusting for share-based payment expense, depreciation and amortization, lease-exit charges, net, deferred share unit expense, restructuring costs, foreign exchange gain (loss), finance income, finance costs, and income taxes. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.
The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.
About NexJ Systems Inc.
NexJ Systems is a provider of Intelligent Customer Management solutions for the financial services industry. Individually, NexJ’s award winning products use artificial intelligence to improve customer service and increase advisor and banker productivity. Together, the Intelligent Customer Management suite delivers a continuously-learning, cognitive application that recommends the right intelligence-augmented actions for users to deliver personalized customer service at scale and grow their business.
Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail email@example.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, like us on Facebook or hang out with us on Google+.