Net Element today posted its
first-quarter results and key quarterly milestones, reporting revenue growth of
13% and a sharp cut in net loss per share.
Net revenues were $5.5 million
for the first quarter of 2015, an increase of 13% compared to revenues of $4.8
million a year ago.
The company reported a
first-quarter 2015 adjusted net loss of $1.6 million, or a loss of $0.04 per
share, compared to a loss of $3.5 million, or a loss of $0.11 per share, for
the comparable quarter of last year.
Gross Margin for the three
months ended March 31, 2015, was $926,135 (17%) as compared to $1,314,985 (27%)
for the three months ended March 31, 2014.
Net Element also highlighted
several first-quarter achievements, including:
·
Executed financing of up to $24 million
·
Agreed to acquire global payments innovator
PayOnline
·
Surpassed 1 million recurring Russia mobile
payment subscribers
·
Launched UAE-based joint venture to exclusively
deliver Net Element payment-as-a-service solutions to Gulf States and India
markets
·
Provided payment solutions for the 2015 College
Football Playoff National Championship presented by AT&T
·
Appointed industry veteran Eric Kirk as Aptito
Executive Vice President
·
Aptito named 2014′s most innovative product and
wins silver in Best in Biz Awards
·
Sales Central version 1.2 released, a
cloud-based, proprietary management portal for Net Element sales partners
·
Upgraded Aptito mPOS software to version 2.3
powerful all-in-one hospitality solution
“We’re pleased with our continued growth in revenues and reduced costs
for the first quarter of 2015,” Net Element CEO Oleg Firer stated in the news
release. “Going forward we will continue to focus on increased gross margins
through acquisitions and providing additional, higher margin services such as
Aptito.”
For more information visit
www.netelement.com
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