ID Watchdog Announces Record Revenues for First Quarter 2016

DENVER, May 2, 2016

• Employee Benefit revenues increased 152.8%
• Total revenues increased 102.6%
• Operating Income increased 110.0%

ID Watchdog, Inc. (TSX VENTURE: IDW) (PINKSHEETS: IDWAF) ("ID Watchdog" or the "Company"), provider of consumer-facing identity theft protection and resolution services, today announced its results for the first quarter ended March 31, 2016. All amounts are in U.S. dollars.

1st Quarter 2016 Highlights:

• Revenue: Revenue totaled $2,572,675 for the first quarter of 2016, an increase of $1,302,989, or 102.6%, from the first quarter of 2015.  During the first quarter of 2016, revenue from our employee benefit channel contributed $1,348,946 to the total increase in revenues, which was partially offset by a slight decrease in the other revenue channels.
• Gross Profit: Gross profit increased by 966,303, or 104.8%, from $922,037 during the first quarter of 2015 to $1,888,340 during the first quarter of 2016.  The gross margin rates for the first quarter of 2016 and 2015 were 73.4% and 72.6%, respectively. 
• Operating Income:  For the first quarter of 2016, Operating Income increased by $151,584 to $289,367 as compared with $137,783 for the similar period in 2015.
• Adjusted EBITDA:  For the first quarter of 2016, Adjusted EBITDA increased by $169,515 to $331,803 as compared with $162,288 for the similar period in 2015. Adjusted EBITDA margins for the first quarter of 2016 and 2015 were 12.9% and 12.8%, respectively.
• Cash Balances: Cash and cash equivalents as of March 31, 2016, totaled 1,933,232, an increase of $863,943 from our cash balances at December 31, 2015.

Second Quarter 2016 Guidance

	Three Months Ending June 30, 2015-Actual		Three Months Ending June 30, 2016- Guidance ARIVA.DE Börsen-Geflüster Kurse ID WATCHDOG INC. -   0,00%		Change vs. 2015
Employee Benefit Revenue	$917,519		$2,210,000 to $2,250,000		141% to 145%
Total Revenue	$1,296,265		$2,510,000 to $2,560,000		94% to 97%
Gross Margin	$966,980		$1,825,000 to $1,865,000		89% to 93%
Operating Income (1)	$137,119		$250,000 to $335,000		82% to 144%
Adjusted EBITDA	$159,141		$275,000 to $360,000		73% to 126%

ID Watchdog CEO, Michael Greene, stated, "We are pleased to report strong operating and financial performance in the first quarter of 2016, resulting in record total revenue and Adjusted EBITDA of $2,572,675 and $331,803, respectively.  We had exceptionally strong growth in or Employee Benefit Channel where revenue grew by 152.8% driven by very strong January 1 employee enrollments. The demand for our identity theft protection services remains very strong and we look forward to building on this success."

ID Watchdog, Inc.
Consolidated Statements of Operations
		Three Months Ended March 31,
		2016		2015
Revenue		$      2,572,675		$      1,269,686
Cost of revenue		684,335		347,649
Gross profit		1,888,340		922,037
Operating expense:
General and administrative expense		596,399		331,226
Benefit broker commission expense		602,988		215,904
Sales and marketing expense		357,150		212,619
Share-based compensation expense		27,269		14,293
Depreciation and amortization expense		15,167		10,212
		1,598,973		784,254
Operating income		289,367		137,783
Other income (expense):
Interest expense, net		(163,025)		(232,506)
Litigation provision		(39,808)		—
Gain on warrant liability		317,709		199,659
		114,876		(32,847)
Net income and comprehensive income applicable to ordinary shares		$      404,243		$       104,936
Basic and diluted net income per share applicable to ordinary shares		$            0.00		$             0.00
Weighted average number of shares outstanding - basic and diluted		129,824,454		121,834,997
Reconciliation of Net Income to Adjusted EBITDA
		Three Months Ended March 31,
		2016		2015
Net income		$         404,243 Werbung Mehr Nachrichten zur ID WATCHDOG INC. Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 16.06.24 - XTB DAX: DEUTLICHER Substanzverlust! --- Die aktuelle DAX-Analyse 16.06.24 - bullvestor Patent News: Wird dieses Unternehmen das nächste BioNTech sein? 16.06.24 - wallstreet:online ... Goldaktien im Direktvergleich: Barrick Gold oder Newmont Mining: Welche Goldaktie ist besser? Patent News    Wird dieses Unternehmen das nächste BioNTech sein? weiterlesen» Anzeige wo-site-teaser-box-17277_site-teaser-box_2024-06-16_09%253A00%253A00_2024-06-17_09%253A00%253A59