uSell.com Announces 2014 Results
Processed $16.7 Million in Gross Merchandise Value Over Last 9 Months of 2014; Year-Over-Year Increase of 89% in Orders Completed; Conference Call to be Held Today at 4:30pm EDT
(firmenpresse) - NEW YORK, NY -- (Marketwired) -- 04/01/15 -- uSell.com (OTCQB: USEL), the leading US-based reCommerce marketplace that instantly finds cash offers for used smartphones and electronics, announced today annual revenues of $6.7 million for 2014, representing a 24 percent increase over 2013. Gross Merchandise Value of $16.7 million was realized for the nine months ended December 31, 2014.
Nik Raman, Chief Executive Officer, stated, "For three years now, we have been investing in our technology to enable small, professional buyers to purchase used smartphone and tablet inventory through our platform. In terms of developing our technology, refining our analytics, and honing in on the path to building the dominant marketplace platform in the industry, there has been no year as critical as 2014. Three things occurred in 2014 that will shape our future. Firstly, we completed the evolution of our business from a ''lead gen model'' to a marketplace model. Secondly, we completed a three-year technological journey that culminated in the launch of our Managed by uSell service model. Lastly, we recognized the shifting landscape in our still rapidly expanding industry and identified where our business can create significant shareholder value. We believe that, from a technology perspective, we are positioned better than anyone else to capture this opportunity. We also feel that, as we continue to evolve our technology, the know-how and intellectual capital that we have accumulated over the last three years puts us at a distinct advantage to competition."
Facilitated over 480,000 transactions to-date and currently attract over 1 million visitors to our website each month
Completed a material change to our business model in the first quarter of 2014, which positively impacted a number of our marketplace metrics
Launched the Managed by uSell service in October via a 3rd party logistics partner
Increased prices offered to sellers, leading to higher conversion rates and throughput
Increased Orders Completed by 89% year-over-year to 237,800 devices while increasing sales and marketing expenditure by just 23%
Completed a public offering of 1,550,000 Units at $3.00 per Unit, consisting of one share of common stock and one-half warrant to purchase one share of common stock, generating net proceeds of $3.7 million
For the year ended December 31, 2014, revenues were $6.7 million, a 24 percent increase from $5.4 million in the year ended December 31, 2013. Operating loss for the year ended December 31, 2014 increased by $1.5 million, from a loss of $4.2 million in the year ended 2013 to a loss of $5.7 million. Net loss for the year ended December 31, 2014 increased by $3.0 million, from a loss of $4.3 million in the year ended 2013 to a loss of $7.3 million. The resulting EPS is ($1.15), as compared to ($0.95) a year earlier. Of note, for the year ended December 31, 2014, there was $3.7 million of noncash items which represented depreciation and amortization, stock based compensation, amortization of debt discount into interest expense, and change in fair value of derivative liability. Cash balances improved from $489,000 on December 31, 2013 to $2.4 million on December 31, 2014.
uSell.com will host a conference call on Wednesday, April 1, 2015 at 4:30pm EDT. The Company will discuss its 2014 operating and financial results and its strategy and outlook for 2015. The conference call will be hosted by Nik Raman, Chief Executive Officer, and Jennifer Calabrese, Chief Financial Officer. The live conference call can be accessed by dialing (866) 952-1907 or (785) 424-1826. Participants should ask for the uSell.com Earnings Conference Call.
Date: Wednesday, April 1, 2015
Time: 4:30PM EDT
Dial-in Number: (866) 952-1907
International Dial-in Number: (785) 424-1826
Participants are recommended to dial-in approximately 10 minutes prior to the start of the event. A replay of the call will be available approximately two hours after completion through April 15, 2015. To listen to the replay, dial (800) 723-0549 (domestic).
uSell.com is a reCommerce marketplace that helps individuals turn unused items into cash. uSell ensures that customers get the highest payouts with the least amount of hassle by facilitating risk-free transactions with professional buyers. For uSell''s buyers, uSell offers a scalable technology, marketing, logistics, and analytics solution that provides a high volume of inventory at a low acquisition cost. Visit
Hayden IR
917-658-7878
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Datum: 01.04.2015 - 06:47 Uhr
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