TORONTO – Revenue growth of 104% year-over-year helped to cut net losses at Yangaroo.
The digital media management company reported $629,352 in revenue for the second quarter ended June 30, up from $307,976 in the same period last year, while net losses for the period improved 68% to ($709,891) from ($2.24 million). EBITDA also improved 59% year-over-year.
Despite the loss, president and CEO Gary Moss said that the company is “on target for profitability”.
"Yangaroo has once again seen record revenues in the quarter," he said in a statement. "This is particularly significant in what is traditionally a slow period, with higher revenues a result of increased usage by existing clients, the addition of new clients, and the migration from SD to HD for music videos and television advertising."
