SAN FRANCISCO, May 9, 2018 /CNW/ - Customer experience solutions
and software company McorpCX, Inc. (TSXV: MCX, OTCQB: MCCX)
("McorpCX" or the "Company") today reported its financial results
for the quarter ended March 31,
2018.
"We are pleased that our clients see the value in our services,
as our results for this quarter demonstrated our ability to add new
projects for existing clients while adding new clients, allowing us
to double year-over-year quarterly revenue. And while focused on
increasing services revenue, we are keeping a focus on expense
management as well." said Michael
Hinshaw, McorpCX President and CEO.
First Quarter 2018 Corporate Highlights:
- Revenue increased by 106% from $297,291 in the first quarter of 2017 to
$613,854 in the first quarter of
2018.
- Gross profit increased by 101% to $316,439 in the first quarter of 2018 from
$157,518 in the first quarter of
2017.
- The Company had a cash balance of $1,490,050 at March 31,
2018 compared to a cash balance of $1,616,076 at December 31,
2017.
Gregg Budoi, the Company's Chief
Financial Officer, stated: "While our investments in sales and
marketing have helped improve consulting services performance, we
are assessing ways to improve our existing products and services
offerings, as well as exploring the potential of new technology
platforms which may drive longer term, and deeper engagements with,
our clients."
For a complete discussion of the Company's financial condition
and operating results, please see "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and our
audited and unaudited financial statements and the accompanying
notes in our Form 10-Q for the three months ending March 31, 2018 and our Form 10-K for the year
ended December 31, 2017, as filed
with the Securities and Exchange Commission on EDGAR and with
Canadian securities regulators on SEDAR.
About McorpCX
McorpCX (http://mcorp.cx) is a customer experience services
company targeting the Global Customer Experience Management (CEM)
market estimated by marketsandmarkets to grow from USD 5.06 Billion in 2016 to USD 13.18 Billion by 2021. Customers range from
Fortune 100 brands to fast-moving mid-market leaders and other
customer-centric companies. McorpCX is focused on pursuing
value-enhancing growth opportunities for its shareholders.
For more information, please contact:
General Information: 1-866-526-2655 toll free in the U.S., or
+1-415-526-2655
Investors: ir@mcorp.cx
Website: http://mcorp.cx
Twitter: @McorpCX (https://twitter.com/mcorpcx)
Forward-Looking Statements
Certain statements contained in this press release may
constitute "forward-looking statements" within the meaning of
the United States securities laws
and applicable Canadian securities legislation. These statements
are, in effect, management's attempt to predict future events, and
thus are subject to various risks and uncertainties. Readers should
not place undue reliance on forward-looking statements, which
reflect management's views only as of the date hereof. All
statements, other than statements of historical fact, regarding our
financial position, business strategy and management's plans and
objectives for future operations are forward-looking
statements. When used in this press release, the words
"anticipate," "believe," "estimate," "expect," and "intend" and
words or phrases of similar meaning, as they relate to the Company
and its management are intended to help identify forward-looking
statements. Although we believe that management's
expectations as reflected in forward-looking statements are
reasonable, we cannot assure readers that those expectations will
prove to be correct. Forward-looking statements include
statements relating to the Company's business and operations as
well as the anticipated growth Global Customer Experience
Management (CEM) market. Such statements involve assumptions
relating to the Company's business, the ability of the Company to
execute on its business plan, the competitive environment of the
Company's products and services and the future development and
pricing of the Company's products and services. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results to be materially different from any future results
expressed or implied by these statements. Such factors include the
following: general economic and business conditions, changes in
demand for the Company's products and services, changes in the
competitive environment and the introduction of competing software
solutions by competitors, the Company's ability to complete any
future required financing and the Company's dependence upon and
availability of qualified personnel. In light of these and other
uncertainties, the forward-looking statements included in this
press release should not be regarded as a representation by the
Company that its plans and objectives will be achieved. These
forward-looking statements speak only as of the date of this press
release, and the Company undertakes no obligation to update or
revise the statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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SOURCE McorpCX, Inc.