(TheNewswire)
November 1, 2018 / TheNewswire / Toronto, ON – RIWI Corp. (CSE: RIW) (the “Company” or “RIWI”), a global trend-tracking and prediction technology firm, reported its financial results for the three- and nine-month periods ended September 30, 2018.
The Company’s financial results are highlighted by its continued revenue growth trend this year, generating US$360,000 in revenue in the first quarter of 2018, US$691,000 in the second quarter of 2018, and US$807,000 in the third quarter.
RIWI was profitable in the three months ended September 30, 2018, generating US$299,000 in net income. RIWI was also profitable over the nine months ended September 30, 2018, generating US$150,000 in net income.
“The RIWI team focuses on signing new long-term contracts and establishing strong recurring revenue streams,” said Neil Seeman, RIWI’s CEO. “This inflection point in growth comes at a time when RIWI is increasingly responding to inbound requests from long-term clients that have rigorously tested our products and now see RIWI as a ‘must-have’ privacy-compliant data collection platform,” he added.
RIWI’s Condensed Interim Financial Statements and Management Discussion and Analysis for the three- and nine-month periods ended September 30, 2018 and 2017, are available via RIWI’s website at https://riwi.com and on SEDAR at www.sedar.com.
A recent video interview with RIWI’s CEO, in which Mr. Seeman discusses the Company’s four business lines, growth drivers and recurring sales model, may be found at RIWI’s homepage: https://riwi.com.
About RIWI
RIWI is a global trend-tracking and prediction technology firm. On a monthly or annual subscription basis, RIWI offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries. https://riwi.com.
RIWI CORP.
Signed: “Neil Seeman”
Neil Seeman, Chief Executive Officer
For more information, please contact:
Daniel Im, Chief Financial Officer
danielim@riwi.com | 1 416 205 9984 ext. 2
CAUTION REGARDING FORWARD-LOOKING INFORMATION:
Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and RIWI does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Company’s expectations or beliefs regarding future events. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.
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