uSell.com Announces First Quarter 2015 Results
Year-Over-Year Increase of 39% in Orders Completed; Processed $19.5 Million in Gross Merchandise Value Over Last 12 Months
(firmenpresse) - NEW YORK, NY -- (Marketwired) -- 05/14/15 -- uSell.com (OTCQB: USEL), the leading US-based reCommerce marketplace that instantly finds cash offers for used smartphones and electronics, announced today results for the first quarter ended March 31, 2015.
Facilitated over 500,000 transactions to-date
Increased Orders Completed by 39%, year-over-year, to 46,700 devices while decreasing sales and marketing expenditures by 7%
Processed $19.5 million in Gross Merchandize Value over last 12 months, since tracking this metric
Implemented $2.4 million in annualized savings in marketing spend and marketing staff; effects beginning in April
The cost cutting measures were implemented in response to shifting industry dynamics, wherein carrier trade-in programs have begun to advertise heavily and collect large volumes of used consumer smartphones. In response to this shift, uSell made the strategic decision to pursue a wholesale device acquisition strategy rather than relying solely on direct to consumer marketing.
Nik Raman, Chief Executive Officer, stated, "Given the increasing importance of the carrier trade in programs, uSell has decided to shift the bulk of its investment from consumer marketing to technology. uSell is uniquely positioned to utilize its marketplace technology to enable large wholesalers and processors that purchase from the carriers to sell to our ever growing network of buyers. Growth through such wholesale channels will enable us to expand our marketplace in a far more efficient manner."
For the first quarter ended March 31, 2015, revenues were $2.1 million, a 113% increase from $1.0 million for the quarter ended March 31, 2014. Net loss for the quarter ended March 31, 2015 decreased by $1.3 million, from a loss of $2.8 million for the quarter ended March 31, 2014 to a loss of $1.5 million. The resulting EPS is ($0.20), as compared to ($0.55) in the year-ago quarter.
For the quarter ended March 31, 2015, there was $0.4 million of non-cash expenses, resulting from stock-based compensation and depreciation and amortization. For the quarter ended March 31, 2014, there was $2.0 million of non-cash expenses, which mainly resulted from the amortization of the remaining debt discount into interest expense upon the conversion of certain convertible notes in February 2014, the change in the market value of the derivative liability on the convertible notes through the date of conversion, stock-based compensation expense and depreciation and amortization. As of March 31, 2015, the Company had $1.1 million in cash.
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
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 14.05.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 1358906
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
NEW YORK, NY
Phone:
Kategorie:
E-Commerce
Anmerkungen:
Diese Pressemitteilung wurde bisher 220 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"uSell.com Announces First Quarter 2015 Results
"
steht unter der journalistisch-redaktionellen Verantwortung von
usell.com, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
