Adaptive Medias, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $1,097,827 compared to $1,113,185 a year ago. Loss from operations was $3,569,417 compared to $1,960,110 a year ago. Net loss was $3,632,403 or $0.23 per basic and diluted share compared to $1,922,078 or $0.32 per basic and diluted share a year ago. Revenues held steady despite a seasonally softer second quarter as well as significant changes in Adaptive Medias' sales force as the Company transitions away from its focus on low-margined advertising revenue to its higher-margin ad-tech video platform, Media Graph. During the first quarter, adjusted LBITDA (excluding stock compensation expenses) equaled $1.8 million compared with $1.9 million in the first quarter of 2015. The improvement reflects lower sales and marketing and research and development expenses, partially offset by higher legal and professional costs.

For the six months, the company reported revenue of $2,265,546 compared to $1,844,788 a year ago. Loss from operations was $10,506,442 compared to $3,100,430 a year ago. Net loss was $10,591,063 or $0.72 per basic and diluted share compared to $3,139,318 or $0.56 per basic and diluted share a year ago.