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/PRNewswire/ --
The Company expects revenues for the full year 2021 to be in the range of
For the month of
"Fortune 500 U.S. brands are increasingly relying on Sabio's proprietary streaming TV, and mobile DSP along with its AppScience analytics platforms to effectively and efficiently reach cable cutting consumers in
The preliminary results set forth above are based on management's initial review of the Company's operating and financial results for Q4 2021 and FY2021 and are subject to change as these results have not been audited or reviewed. Final reported results could differ from these preliminary results following the completion of quarter-end and year-end accounting procedures, final adjustments, and other developments arising between now and the time that the Company's financial results are finalized, and such changes could be material. The Company's independent auditor,
A more complete description of the Company's financial position will be provided in the upcoming filing of the Company's financial statements and MD&A which are anticipated to be filed on SEDAR and made available on the Company's website on or around
These estimates are subject to a number of cautionary statements, assumptions, contingencies and risks as set forth in this news release. The foregoing outlook and expectations constitute forward-looking statements and financial outlook and are qualified in their entirety by the "Forward-Looking Statements" cautionary statement below. The purpose of this financial outlook is to provide readers with early guidance regarding management's current reasonable expectations as to the anticipated results for the calendar year 2021 and Q4-2021. Readers are cautioned that this financial outlook may not be appropriate for other purposes.
About Sabio
For more information, visit: sabio.inc and/or AppSci.io.
Use of Non-IFRS Measures
This press release makes reference to certain non-IFRS (International Financial Reporting Standards) measures including, but not limited to Adjusted EBITDA. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS. Rather, these non-IFRS measures are provided as additional information to complement IFRS measures by providing a further understanding of operations from management's perspective. Accordingly, non-IFRS measures should not be considered in isolation nor as a substitute for analysis of financial information reported under IFRS. Management believes that these non-IFRS measures provide useful information to investors in measuring the financial performance of Sabio for the reasons outlined below.
Management uses Adjusted earnings before interest, income taxes, depreciation, and amortization ("Adjusted EBITDA") as a key financial metric to evaluate Sabio's operating performance as a complement to results provided in accordance with IFRS. The term "Adjusted EBITDA", as defined by management, refers to net income (loss) before adjusting earnings for finance costs, income taxes, stock-based compensation, amortization, non-recurring items, and severance costs.
We believe that the items excluded from Adjusted EBITDA are not connected to and do not represent the operating performance of Sabio. We believe that Adjusted EBITDA is useful supplemental information as it provides an indication of the results generated by Sabio's main business activities prior to taking into consideration how those activities are financed and taxed as well as expenses related to stock-based compensation, depreciation, amortization, restructuring costs, other expense (income), and foreign exchange (gain) loss. Accordingly, we believe that this measure may also be useful to investors in enhancing their understanding of Sabio's operating performance. It is a key measure used by Sabio's management and board of directors to understand and evaluate Sabio's operating performance, to prepare annual budgets and to help develop operating plans.
Forward-Looking Statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, including but not limited to the release of Q4 2021 and FY 2021 results, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events that may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors disclosed in the Filing Statement which is publicly available on SEDAR at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither the
*eMarketer 2021 research
SOURCE
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