information Minds + Machines 2015 Results

[garptrader]

Key financials from period
• Billings¹: up 58% to $7.9 million (2014: $5 million);
• Revenue: up 232% to $6.3 million (2014: $1.9 million);
• Operating expenses: down 8% $12.2 million (2014: $13.1 million);
• Profit on auctions: $7.9 million (2014: $33.7 million);
• Adjusted EBITDA² for period: loss of $2.5 million (2014: $20.9 million profit);
• Cash reserves at 31 December 2015: $34.7 million (31 December 2014: $45.8 million) after $9.1 million
expended on share buy-backs and $10.7 million to cover operating activities in period;
• On a consolidated basis, a total loss for the year of $10 million (2014: $22.1 million profit); and
• 2015 loss per share of 1.20 cents compared to 2014 earnings per share of 2.67 cents.

¹ Billings provide insight into the sales of MMX's domain names since payment is typically collected at the time of invoice with revenue
then being ratably recognized over the term of a domain. As such billing figures for the year should not be viewed as audited revenue
figures for the year.
² Earnings before interest, tax, depreciation & amortisation and other non-cash charges where earnings are calculated on the basis of
billings as opposed to accounting revenue.

http://mmx.co/wp-content/uploads/2016/04/MMX-2015-Audited-Financials-RNS.pdf

 

[garptrader]

Here are the MMX TLDs....

http://mmx.co/portfolio/

 

[garptrader]

A few examples...
.Boston
.Miami
.Fashion.
.Law
.Wedding
.Fit
.Work
.London
.Basketball

 

[East Street]

Here is the condensed version: M+M hopes to continue operating by selling their 'premium name' inventories, primarily via referrals, after losing a bunch of money in two of the three areas of the formerly vertically integrated business model. Their growth / continuing operations strategy is to acquire new extensions and repeat process.

 

[dordomai]

I am not good at reading financial statements but it appears that are not profitable at the moment, despite their high premium pricing?

On a consolidated basis, a total loss for the year of $10 million

I thought that their business model would not cost much but it appears that they spend $1 million/month for their operations.

Operating expenses: down 8% $12.2 million (2014: $13.1 million);