Elephant Talk Reports Q1

Elephant Talk reports 2015 first quarter financial results.

May 13, 2015

2 Min Read

NEW YORK, NY -- Elephant Talk Communications Corp. (NYSE MKT: ETAK) (“Elephant Talk” or the “Company”), a global provider of Software Defined Network Architecture (ET Software DNA® 2.0) platforms and cyber security solutions, today announced total revenue of approximately $5.0 million for the quarter ended March 31, 2015 as compared to a restated $5.4 million recorded in the first quarter of 2014. Non-GAAP revenue* increased to $8.0 million in the March 2015 quarter from $6.5 million in the year-ago quarter. Net Loss for the quarter was approximately $2.1 million versus a restated loss of approximately $5.2 million reported in the first quarter of 2014. Adjusted EBITDA* was approximately $2.3 million for the first quarter of 2015 versus approximately a restated $6,000 in the same quarter of the prior year.

Recent Highlights:

  • LOWI, Vodafone’s newest MVNO brand in Spain powered by Elephant Talk’s platform recently topped a critical mass user number, a significant success for a brand launched just 5 months ago. Building on this success, the Company is working with Vodafone to not only increase the numbers of users on our platform in Spain, but is looking to work with new brands in new geographic markets.

  • Elephant Talk signed a new platform contract in Brazil, subject to our customer obtaining a MVNO license from Anatel, the Brazilian regulator. The customer is expected to obtain all of the necessary licenses and permits to operate in the market later this summer and if all goes well, the Company expects the platform to be up and running by the end of 2015.

  • Momentum at ValidSoft continues with the signing of ImageWare Systems, its third new commercial customer contract in 2015. ImageWare Systems is a market leader in identity management solutions serving a varied client and partner portfolio where it delivers a single, best in class platform of biometric solutions designed to manage millions of identities worldwide. The ImageWare Systems relationship provides ValidSoft with an immediate existing pipeline of contracts, which are currently under development and deployment.

Elephant Talk Communications Corp. (NYSE MKT:ETAK)

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