Mr. Gary Yeoman reports
ILOOKABOUT ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2018
iLookabout Corp.'s unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2018, and June 30, 2017, and the related management's discussion and analysis (MD&A), are available on SEDAR and on the company's website. Shareholders may request a hard copy of this material by directing their request to iLookabout, office of the chief financial officer, Suite 408, 383 Richmond St., London, Ont., N6A 3C4.
"Our core operations continue to remain stable and contribute to supporting our corporate infrastructure and the pursuit of strategic initiatives. We are particularly pleased with the progress of our collaborative efforts with Cherre Inc. to initiate the strategic planning and early-stage development of a platform to facilitate a real estate data marketplace utilizing blockchain technology. Our combined efforts have accelerated this initiative at a pace greater than initial expectations," said Gary Yeoman, chair and chief executive officer of iLookabout. "We are very eager to continue this joint initiative, which leverages the expertise and partnerships of both Cherre and iLookabout. We expect the resulting platform will address a clear market need that has not been addressable by alternative technologies to date."
HIGHLIGHTS OF FINANCIAL RESULTS
Three months ended June 30 Six months ended June 30
2018 2017 (1) 2018 2017 (1)
Revenue $ 2,323,085 $ 2,424,243 $ 4,715,023 $ 4,398,562
Comprehensive (loss) (405,023) (156,984) (288,417) (209,374)
Adjusted EBITDA, unaudited (2) 85,440 62,634 283,135 150,568
Discussion with respect to the above-noted results can be found in the company's
management's discussion and analysis.
(1) Restated for the impact of adoption of IFRS 15 (international financial reporting
standards).
(2) Adjusted EBITDA is an unaudited non-GAAP (generally accepted accounting principles)
measure and does not have any standardized meaning prescribed under IFRS, and,
therefore, may not be comparable with similar measures employed by other reporting
issuers. Management believes adjusted EBITDA provides meaningful information with
respect to the financial performance and value of the company, as items that may
obscure the underlying trends in the business performance are excluded. Adjusted
EBITDA is defined and calculated by the company as comprehensive income (loss) before
interest, taxes, depreciation/amortization of equipment and intangible assets,
share-based compensation expense, and other costs or income of a non-operating
and/or non-recurring nature. The company classifies income or costs as non-recurring
if income or costs similar in nature are not reasonably expected to occur within the
next two years nor have occurred during the prior two years, and such costs are
significant.
About iLookabout Corp.
iLookabout is a software, data analytics, data aggregation and visual intelligence company focused on real property. The company primarily serves the property assessment, property taxation, municipal, insurance and appraisal sectors, both public and private, in North America. iLookabout provides powerful data analytics to the real estate industry through its real property tax analytics software offering.
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