UpSnap announces financial results for the third quarter of 2018 of the Canadian stock exchange: UP.CN

TORONTO, Nov. 28, 2018 (GLOBE NEWSWIRE) – UpSnap Inc. (CSE: UP) ("UpSnap" or the "Company"), a provider of mobile and intention-oriented advertising solutions, today announced third quarter (Q3)) financial results for the three and nine months ended September 30, 2018.

"We continue to strive to establish intentional direct mail as the engine of growth and continue to see strong demand from new and existing customers," said Bruce Howard, CEO of UpSnap. "By 2019, we anticipate that IDM will continue to grow as customers recognize the unique value proposition of tracking online consumer behavior and using data to more effectively engage their target audience." . "

Third quarter financial highlights

• Recognized Direct Mail ("IDM") revenue was $ 248,000 in the third quarter of 2018 compared to $ 192,000 in the second quarter of 2018. Revenue from MDE for the nine months ended September 30, 2018 amounted to 518,000 USD, compared to nil for the same period in 2017.
• IDM mailers sent have increased by 35% between the second quarter of 2018 and the third quarter of 2018. The revenues generated by IDM are recorded at the time of the sending of the senders.
• Average IDM reseller order increased from $ 1,600 in the second quarter of 2018 to $ 2,300 in the third quarter of 2018, an increase of 44%.
• Total operating revenues were $ 861,000 for the third quarter of 2018, compared to $ 1.1 million for the third quarter of 2017. Total operating revenues were 2%, $ 7 million for the nine months ended September 30, 2018, compared to $ 3.3 million for the nine months ended September 30, 2017.
• Total operating cost of $ 1.2 million for the third quarter of 2018, compared with $ 1.0 million for the third quarter of 2017. Total operating cost for the nine-month period ended 30 September 2018 amounted to $ 3.2 million, compared with $ 3.3 million for the nine-month period ended September 30, 2017. Total operating cost of $ 241,000 for Q3 2018 and USD 564,000 for the first nine months of the year contributed to the development and launch of IDM technology.
• The operating loss is set at $ 311,000 for the third quarter of 2018, compared to a gain of $ 53,000 for the third quarter of 2017. The operating loss is expected to be $ 3 million. is $ 610,000 for the nine-month period ended September 30, 2018, compared with a loss of $ 23,000 for the nine-month period ended September 30, 2017.

This press release should be read in conjunction with the unaudited financial statements of UpSnap and the accompanying notes as at and for the quarter ended September 30, 2018, as well as the accompanying MD & A. These documents have been filed with certain securities regulatory authorities in Canada and are available on SEDAR (www.sedar.com) and on the UpSnap website at www.upsnap.com.

About UpSnap
UpSnap offers a highly targeted, data-driven mobile advertising aimed at attracting the ideal audience for large and small brands. By combining proprietary proprietary data with real-time analytics, UpSnap goes beyond localization to deliver agnostic and results-driven campaigns that produce qualified and engaged customers. UpSnap tailors each campaign according to unique business objectives, providing the right customers for more meaningful visibility and better business results.

For more information, please contact:

Caution regarding forward-looking information
Certain information presented in this press release constitutes forward-looking information. Forward-looking information is often, but not always, identified by words such as "search", "anticipate", "hope", "plan", "continue", "estimate", "expect", "may "," will, "" intends, "" could, "" could, "" should, "" expected, "" believe, "and similar expressions.

Although the forward-looking statements in this press release are based upon what the management of the Company believes to be reasonable assumptions as of the date of this press release, the Company can not assure investors that actual results will be consistent with these statements. prospective. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that cause actual results to differ from those expressed or implied by these forward-looking statements. These statements should not be read as guarantees of future performance or results, and they will not necessarily be indicative of the achievement of results.

The forward-looking statements contained in this news release are made as of the date of this press release and are based on what the management of the Company considers to be reasonable assumptions. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as permitted under applicable securities laws. In addition, the company assumes no responsibility for the accuracy and completeness of the forward-looking statements set forth in this press release. The forward-looking statements above specifically relate to the forward-looking statements of the Company.

The CSE has not reviewed, approved or disapproved the contents of this press release.