HIGHLIGHTS
- For Q4-2022, the Company generated revenues of
$2,310k compared to$1,090k for Q4-21, an increase of+$1,220k or +112%; - For 2022, the Company generated revenues of
$8,337k compared to$4,069k for 2021, an increase of+$4,268k or +105%; - During the year, the Company continued its accelerated growth plan by completing the acquisition of 6 businesses in
North America , including 6offering real estate photography services (Immophoto, Tours Virtuales, Virtual Access Tours, Imoto and Agento Marketing) as well as an online marketplace platform (RocketPhoto). Those acquisitions represent a total purchase price of$8.0m and were financed by a term loan of$2.0m , the issuance of shares ($4.2m ), the Company's liquid assets ($0.6m ) and a balance of purchase of$0.2m ; - In
September 2022 , the Company launched a franchise program for its 3D photography solutions inNorth America ; - In
October 2022 , the Company completed the strategic acquisition of HomeVisit fromCoreLogic, LLC , for a purchase price of$9.0m , subject to some adjustments.
SELECTED FINANCIAL INFORMATION
Three-month period ended | Three-month period ended | Twelve-month period ended | Twelve-month period ended | |
In thousands $ | In thousands $ | In thousands $ | In thousands $ | |
Revenues | 2,310 | 1,090 | 8,337 | 4,069 |
COGS and direct charges | 1,295 | 423 | 4,070 | 1,440 |
Gross margin (before amortization) | 1,015 | 667 | 4,176 | 2,629 |
Amortization | 362 | 258 | 1,266 | 730 |
Operating expenses | 1,412 | 671 | 5,066 | 2,622 |
EBITDA* | (103) | (74) | (74) | 98 |
Other expenses (revenues) | (951) | 1,569 | (477) | 3,238 |
Net income (loss) | 273 | (1,577) | (1,590) | (3,709) |
Basic net income (loss) per share | 0.01 | (0.04) | (0.04) | (0.15) |
* Q4-22 EBITDA has been adjusted (
2022 EBITDA has been adjusted (
ACHIEVEMENTS
“In 2022, we devoted a lot of effort in pursuing our accelerated growth strategic plan put in place last year, having had to use creativity to deal with hostile real estate and stock markets. We are more than satisfied with the results obtained so far, having been able to complete many important strategic acquisitions throughout the year as well as HomeVisit in
Options grant and shares issuance
The Company has granted 1,050,000 share purchase options to employees and consultants according to the terms of its share option plan. These options are exercisable at
Investor Video Conference Call
UI will be hosting a video conference to discuss its 2022 annual results and answer questions at
About
Caution of Forward-Looking Statements
Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management estimates or opinions change.
For more information, please contact:
President & CEO
514-394-7820 X 202
ghislainlemire@urbanimmersive.com
Simon Bédard, CA, CPA, CFA, MBA
Chief Financial Officer
514 394-7820 X 224
simonbedard@urbanimmersive.com
Source:
2023 GlobeNewswire, Inc., source