SAN ANTONIO, Texas, June 17, 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 April 30, 2019, the Company’s third quarter for FY2019.
Key Financial Highlights for the Third Quarter of Fiscal Year 2019 (Ended April 30, 2019)
- Revenue increased by 658% to $1.485 million compared to $196,000 for the third quarter of FY2018.
- Gross profit increased to $715,000 compared to $90,000 for the third quarter of FY2018.
- Gross margin increased to 48% compared to 46% for the third quarter of FY2018.
- Adjusted EBITDA loss of $102,000, excluding all non-cash items and one-time transactional expenses, improved by 64% compared to an Adjusted EBITDA loss of $281,000 for the third quarter of FY2018.
- Average monthly revenue per customer (ARPU) was $723.
- Net customer count increased by 374% to 688. […]