ID Watchdog Announces Results for the Second Quarter 2016

DENVER, Aug. 4, 2016

• Employee Benefit revenues increased 144.3%
• Total revenues increased 96.9%
• Gross profit increased 100.7%

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 2nd quarter ended June 30, 2016. All amounts are in U.S. dollars.

2nd Quarter 2016 Highlights:

• Revenue: Revenue totaled $2,552,390 for the second quarter of 2016, an increase of $1,256,125, or 96.9%, from the second quarter of 2015.  Revenue from our Employee Benefit Channel increased $1,323,855, or 144.3%, from $917,519 for the three months ended June 30, 2015 to $2,241,374 for the three months ended June 30, 2016. 
• Gross Profit: Gross profit increased by $973,717, or 100.7%, from $966,980 during the second quarter of 2015 to $1,940,697 during the second quarter of 2016.  The gross margin rates for the second quarter of 2016 and 2015 were 76.0% and 74.6%, respectively.
• Operating Income:  For the second quarter of 2016, operating income improved by $53,740 to $190,859 as compared with $137,119 for the similar period in 2015.
• Adjusted EBITDA:  For the second quarter of 2016, adjusted EBITDA improved by $317,088 to $476,229 as compared with $159,141 for the similar period in 2015.
• Cash Balances: Cash and cash equivalents as of June 30, 2016, totaled $2,246,527, an increase of $1,177,238 from our cash balances at December 31, 2015.

Third Quarter 2016 Updated Guidance

	Three Months Ended September 30, 2015 --Actual		Three Months Ending September 30, 2016 -- ARIVA.DE Börsen-Geflüster Kurse ID WATCHDOG INC. -   0,00% Guidance		Change vs. 2015
Employee Benefit Revenue	$1,001,814		$2,225,000 to $2,275,000		122% to 127%
Total Revenue	$1,377,583		$2,475,000 to $2,525,000		80% to 83%
Gross Margin	$1,000,287		$1,800,000 to $1,850,000		80% to 85%
Operating Income (1)	$186,047		$140,000 to $190,000		(25%) to 2%
Adjusted EBITDA	$211,150		$300,000 to $350,000		42% to 66%

ID Watchdog CEO, Michael Greene, stated, "We are pleased to report solid operating and financial performance in the second quarter of 2016, resulting in record second quarter revenue and Adjusted EBITDA of $2,552,390 and $476,229, respectively.   We continue to experience exceptionally strong growth in our Employee Benefit Channel where revenue grew by over 144% driven by our robust January 1, 2016 employee enrollments."

Mr. Greene continued, "As we look forward to the third quarter of 2016, we anticipate we will increase our Employee Benefit Channel revenue by 122%-127% over the prior year quarter, deliver gross margin around 72.5% and an Adjusted EBITDA margin of approximately 13%.  We remain highly confident we will exceed our goal of $10 million in revenue for calendar 2016."

ID Watchdog, Inc. Consolidated Statements of Operations
		Three Months Ended June 30,				Six Months Ended June 30,
		2016		2015		2016		2015
Revenue		$    2,552,390		$    1,296,265		$ 5,125,065		$     2,565,951
Cost of revenue		611,693		329,285		1,296,028		676,934
Gross profit		1,940,697		966,980		3,829,037		1,889,017
Operating expense:
General and administrative expense		512,222		377,673		1,108,621		708,899
Benefit broker commission expense		586,910		220,954		1,189,898		436,858
Sales and marketing expense		365,336		209,212		722,486		421,831
Share-based compensation expense		268,729		11,066		295,998		25,359
Depreciation and amortization expense		16,641		10,956		31,808		21,168
		1,749,838		829,861		3,348,811		1,614,115
Operating income		190,859		137,119		480,226 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 - dpa-AFX Ministerpräsident Weil: Scholz unangefochtene 'Nummer eins' der SPD 16.06.24 - dpa-AFX Verdi fordert vor zweiter Banken-Tarifrunde Angebot der Arbeitgeber 16.06.24 - dpa-AFX Energiespar-Impuls durch Energiekrise hält an 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