NTN Buzztime Inc (NYSEAMERICAN:NTN) announced its financial results for Q4 of 2017 in the first week of this month.
The company revealed that its total revenue for Q4 was $5.3 million which is a slight decline compared to the $6 million that NTN Buzztime made in Q4 of 2016. The lower revenue is believed to be due to the fact that it had fewer advertising programs and lower site count. The firm also reported its direct costs at $1.7 million, thus marking a decline compared to the $2.1 million that the company made in the fourth quarter of 2016. This decline was caused by various factors including service provider expenses, depreciation, and other costs within the advertising programs.
NTN Buzztime also reported that there were some positive figures in some areas. For example, there was an increase in the firm’s gross margin at 67 percent for Q4, 2017 versus 65 percent in Q4 of the previous year. Administrative, general and selling expenses recorded a slight decline in the fourth quarter of 2017 coming in at $4.0 million compared to $4.1 million in Q4 of the previous year.
EBITDA was for Q4 2017 came in at $117,000 which is a significant margin from the $390,000 reported in the previous year. The net loss for Q4 was $0.25 per share or $639,000 which was slightly higher than the loss of $0.22 per share or $459,000 as reported in Q4 of the previous year. The results of the fourth quarter have a lot to do with the fact that the firm has been investing in product development and making changes to its sales and marketing team on an effort scale up.
“In the fourth quarter, we completed the Buffalo Wild Wings software integration and delivered the first batch of new tablets with magnetic swipe, EMV, and NFC capabilities,” stated NTN Buzztime CEO, Ram Krishnan.
The CEO also stated that the company kicked off an order and pay rollout in numerous locations in December last year and that it also entered into a contract in January. He also added that the company is focused on providing promotions and positive experiences to its customers.
NTN Buzztime stock closed the latest trading session on Friday at $5.88.