NetworkNewsBreaks – GTX Corp (GTXO) Posts Q2 Sum
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Posted On: 08/21/2018 5:54:21 PM
NetworkNewsBreaks – GTX Corp (GTXO) Posts Q2 Summary
GPS technology-focused holding company GTX Corp (OTC: GTXO) this morning provided a summary of the company’s activities and achievements during the second quarter ended June 30, 2018. Per the update, GTX Corp’s overall revenue for the second quarter saw an increase of 7% over the same period of 2017. Subscriber revenue also demonstrated an increase, rising 108% over the second quarter of 2017. “We had an overall good quarter, with single- or double-digit increases or decreases in all the major metrics – revenues were up, subscribers were up, margins and profits were up, while our cost of operations, professional services, G&A and net losses decreased. Overall product revenues were slightly impacted due the launch of new products and not having enough inventory on hand before the end of the quarter, however a key metric worth noting is number of subscribers and subscriber revenue, both of which are fundamental to our overall success and have been increasing steadily over the past year. This quarter, our subscribers not only increased by 52% but the subscriber revenue increased by 108%; this is a very good indicator that we are adding higher-paying subscribers, which directly correlates to higher margins, higher profits and getting closer to cash flow positive,” GTX Corp CEO Patrick Bertagna stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
GPS technology-focused holding company GTX Corp (OTC: GTXO) this morning provided a summary of the company’s activities and achievements during the second quarter ended June 30, 2018. Per the update, GTX Corp’s overall revenue for the second quarter saw an increase of 7% over the same period of 2017. Subscriber revenue also demonstrated an increase, rising 108% over the second quarter of 2017. “We had an overall good quarter, with single- or double-digit increases or decreases in all the major metrics – revenues were up, subscribers were up, margins and profits were up, while our cost of operations, professional services, G&A and net losses decreased. Overall product revenues were slightly impacted due the launch of new products and not having enough inventory on hand before the end of the quarter, however a key metric worth noting is number of subscribers and subscriber revenue, both of which are fundamental to our overall success and have been increasing steadily over the past year. This quarter, our subscribers not only increased by 52% but the subscriber revenue increased by 108%; this is a very good indicator that we are adding higher-paying subscribers, which directly correlates to higher margins, higher profits and getting closer to cash flow positive,” GTX Corp CEO Patrick Bertagna stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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