Espial Reports 2016 Third Quarter Results
Ottawa, Ontario - Nov 1, 2016 Transforming the viewing [ ]
Ottawa, Ontario - Nov 1, 2016 Transforming the viewing experience worldwide, Espial Group Inc. ( Espial or the Company ), (TSX:ESP), today announced its third quarter financial results for the three and nine month periods ended September 30, 2016.
Espial Q3 Highlights
Third quarter revenue of $6.0 million and adjusted EBITDA loss including acquisition related transaction costs was $1.9 million.
Completed the acquisition of Whole Home Solution Platform from ARRIS. With this acquisition, Espial gained an addressable subscriber base with millions of subscribers, a cloud hosted video service platform, and a talented engineering and operations team.
ARRIS, a multi-billion dollar manufacturer of set-top boxes and global leader in entertainment and communications technology, entered into a Software License and Distribution Agreement to resell and integrate Espial's product portfolio to service providers worldwide.
Introduced Espial Elevate cloud-hosted video solution and announced 3 new customers for this solution. Espial Elevate enhances the Whole Home Solution with Espial's G4 UX and IP Back Office solution to enable service providers to offer new, innovative IP video services.
Showcased Espial's proven RDK-based G4 Client solution, User Experience and back office solutions at IBC in Amsterdam and SCTE in Philadelphia.
Initiated a Normal Course Issuer Bid.
In Q3, we continued to roll-out NOS's next generation UMA TV service to positive reviews in Portugal. We've also entered the final stretch of working towards a commercial launch for Tele Columbus in Germany with our products. Our success with these customers is positively impacting our sales pipeline with service providers looking to adopt RDK based solutions. said Jaison Dolvane, CEO Espial. Our acquisition of the WHS Platform from ARRIS expands our immediate addressable subscriber base and increases our scale in revenue, customers and engineering talent. We also signed a licensing and distribution agreement with ARRIS which scales distribution, integration and deployment of Espial solutions to video service providers globally. Our execution on these and other milestones in Q3 positions us well as service providers seek competitive advantage by introducing new IP video services with immersive user experiences.
Financial Summary
For the three-month period ended September 30, 2016, the Company is reporting revenue of $6.0 million compared with revenue of $8.7 million for the three months ended September 30, 2015. Adjusted EBITDA loss, which includes $0.3 million of acquisition related transaction costs, for the third quarter of fiscal 2016 was $1.9 million compared to income of $2.3 million for the third quarter of fiscal 2015. Cash on September 30, 2016, was $44 million.
Q3 Financial Results
Third quarter revenues were $6,018,117 compared with revenues of $8,709,354 in the same period a year ago. Third quarter software license and royalty revenues were $3,448,616 compared to $5,217,518 in the third quarter of fiscal 2015. Professional services for the third quarters of 2016 and 2015 were $1,069,103 and $2,146,008 respectively. Maintenance and support revenues for the third quarter were $1,500,398 compared to $1,345,828 last year.
European revenues were $3,303,384 in the third quarter of 2016 compared to $2,318,270 in 2015. Asia revenues were $580,017 in the third quarter of 2016 compared to $694,704 in 2015. North American revenues were $2,134,716 in the third quarter of 2016 compared to $5,696,380 in 2015.
Gross margin for the third quarters of fiscal 2016 and 2015 was 71% and 77% respectively.
Earnings before interest, foreign exchange, taxes, stock compensation, depreciation and amortization (adjusted EBITDA) for the third quarter of fiscal 2016 was a loss of $1,885,253 compared to income of $2,333,472 in fiscal 2015.
Net loss, which includes non-cash items like depreciation, goodwill and intangibles, in the third quarter was $2,435,969 compared to net income of $2,203,314 last year.
Cash and cash equivalents on September 30, 2016, was $44,301,376
A complete set of financial statements and management's discussion and analysis for the quarter ended September 30, 2016 will be available at http://www.sedar.com.
Conference Call
The Company will be hosting a conference call to discuss the Q3 2016 financial results on November 1, 2016 at 5:00PM EDT and the phone number to join the results discussion is:
Toll Free line (Canada/US) 866-521-4909
Toll line (International/Local) 647-427-2311
The playback for the call will be available two hours after the call's completion and will be available until 11:59pm ET on December 1, 2016, at the following numbers and passcode:
Toll-free line: +1-855-859-2056 or +1-404-537-3406, Passcode: 7808819.
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
30/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/05/2026
Zero in on one that says yes (and no)
Andy Marken May 29, 2026
0 Comments
Hero image courtesy of Deposit Photos
For content creators the most difficu...
29/05/2026
With InfoComm 2026 just weeks away, NDI is giving attendees plenty of reasons to...
29/05/2026
Reaffirming a partnership that has defined Canadian sports broadcasting since 19...
29/05/2026
Mobile/tablet is No. 2 device for watching TV, suggesting that the sports-production industry needs to take another look at the format
Ring Digital's Sprin...
29/05/2026
Berliner Ensemble, one of Berlin's five major theater companies, has expande...
29/05/2026
Solid State Logic will showcase its new compact, fly-away TCA Tour audio product...
29/05/2026
Gerald (Jerry) Pierce, a pioneering technologist who helped shape the digital transformation of the motion picture industry, passed away last month on April 12 ...
29/05/2026
Paramount+ will be the English-language U.S. home for Barclays Women's Super...
29/05/2026
Further strengthening its virtualisation strategy to fully support broadcasters ...
29/05/2026
Swiss broadcaster Canal Alpha has deployed Harmonic's award-winning, software-based XOS Advanced Media Processor to modernize playout operations across cant...
29/05/2026
PTZOptics will showcase a new generation of intelligent video workflows at InfoComm 2026, June 17-19, Las Vegas. Visitors to booth N8227 will see how PTZOptics ...
29/05/2026
Arizona's Family has launched the Arizona's Family Sports (AZFS) streaming app, a new direct-to-consumer destination for live, local sports. The app is ...
29/05/2026
Starting in 2027, DAZN will be the exclusive home of The Canadian Football Leagu...
29/05/2026
Comcast Business has detailed the advanced network infrastructure it has deploye...
29/05/2026
In two-day event, leaders from academia and industry explored solutions to chall...
29/05/2026
The Basketball Tournament (TBT), now entering their 13th year of competition, ha...
29/05/2026
Roku has launched FOX One as a Premium Subscription on The Roku Channel in the U.S. Roku customers can now subscribe to FOX One using their Roku account for liv...
29/05/2026
In its sixth year, the broadcaster's coverage has become a global brand and ...
29/05/2026
Ratings Roundup is a rundown of recent ratings news and is derived from press re...
29/05/2026
The days are getting longer, the temperatures are rising, and playlists are filling up for the season. With summer around the corner, Spotify's global edito...
29/05/2026
New retro-inspired MPC announced
There are few devices that have gained the status held by Akai Pro's MPC range, and in recent years, the company have s...
29/05/2026
Save up to 30 on acclaimed titles
Following a successful launch at Superbooth 2026, Bjooks have revealed that they will be continuing the Kickstarter campa...
29/05/2026
Binaural monitoring application improved
Genelec have just released an update that brings some powerful new features to their HRTF-based binaural headphone ...
29/05/2026
6 June 2026 at SAE Institute, London, UK
IMSTA FESTA 2026 is almost upon us, with some of the biggest names in pro-audio set to descend upon SAE Institute i...
29/05/2026
Gerald (Jerry) Pierce, a pioneering technologist who helped shape the digital transformation of the motion picture industry, died April 12, 2026, at his home in...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Comparing 5 AI Video Enhancers for Restoring Old Video Quality
Kate Luvis May 29, 2026
0 Comments
Digitizing VHS, MiniDV, and other legacy formats doe...
29/05/2026
Studio Hamburg Builds New Post Pipeline with DaVinci Resolve Studio
Brie Clayton May 29, 2026
0 Comments
Workflow replaces a patchwork of legacy tools...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
At the Intersection of Music and Dance, an Epic Collaboration Boston Conservatory musicians and dancers found creative parallels in their recent performance o...
29/05/2026
Back to All News
Latino Film Institute Fellows Screen Their Short Films at the Egyptian Theatre
The Inclusion Fellowship and Spark Animation Grant uplifts 15 ...
29/05/2026
GLOOKAST LAUNCHES CINNAFILM TACHYON PLUGIN FOR MEDIA PRODUCER AND MEDIA SERVICES
This release first appeared here.
Visit our Tachyon product page or contact...
29/05/2026
May 29 2026, 09:00 (PDT) Dolby and rednote Bring More Immersive Storytelling to...
29/05/2026
Something fundamental has shifted in how people consume media. Audiences aren't abandoning television or radio content; they're just expanding how, wher...
29/05/2026
Youtube exclusive special drops today
Watch now
UKTV today announces another e...
29/05/2026
Back to All News
The Official Trailer of Physical 100 Italy, on Netflix From Se...
Espial Reports 2016 Third Quarter Results 
