SAN ANTONIO, Dec. 16, 2019 (GLOBE NEWSWIRE) — Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, announced today financial results for the three months ended October 31, 2019, the Company’s first quarter for FY2020.
- Revenue increased to $1.589 million compared to $1.522 for the first quarter of FY2018, driven by organic growth.
- Gross profit increased to $786,000 compared to $765,000 for the first quarter of FY2019.
- Gross margin remained consistent at 50% compared to 50% for the first quarter of FY2019.
- Adjusted EBITDA loss of $23,000, excluding all non-cash items and one-time transactional expenses, improved by 59% compared to an Adjusted EBITDA loss of $57,000 for the first quarter of FY2019.
- Average monthly revenue per customer (ARPU) was $754.
- Net customer count increased to 708.