Toronto, Ontario – November 10, 2015 – Imperus Technologies Corp. (“Imperus” or the “Company“) (TSX-VENTURE: LAB, Frankfurt: ISX, Frankfurt WKN: A12B58) pre-announces its expected unaudited stand-alone revenue and adjusted EBITDA for the three months ended September 30, 2015 for its Diwip Ltd. (“Diwip”) operating business. Imperus expects to report revenue of approximately CAD$5.9 million and adjusted EBITDA of approximately CAD$2.8 million for the three months ended September 30, 2015. Revenue and adjusted EBITDA for Diwip on a stand-alone basis in the second quarter of 2015 were CAD$5.9 million and CAD$1.1 million respectively, with third quarter EBITDA growth of 157% over the second quarter.
Yesterday, Imperus announced that it has exercised a definitive option to acquire one of the leading social casino businesses in Spain and Latin America, Akamon Entertainment Millennium, S.L. (“Akamon”). Akamon’s Q3 EBITDA grew 35% on a year over year basis. On a pro-forma basis assuming that it had acquired Akamon at the beginning of the third quarter, Imperus’s social casino operating business would have delivered revenue of CAD$10.7 million and adjusted EBITDA of approximately CAD$3.9 million in Q3 2015, growth of 3% in revenue and 87% in adjusted EBITDA over the second quarter. These results exclude Imperus’s parent company overhead, which going forward for fiscal 2016 is expected to be approximately CAD$3 million.
“First and foremost, these results reflect the underlying value in the Diwip assets. We grew profitability at Diwip by improving our marketing efficiency and successfully launching new games”, states James Lanthier, Imperus CEO. “We are highly confident that additional value in the Diwip player base can be unlocked by closing the Akamon acquisition and applying Akamon’s technologies to the Diwip player base.”
“These results speak to the strength of our social casino business, and underscore the rationale for our decision to focus Imperus exclusively on the social casino market opportunity. We look forward to closing our acquisition of Akamon and enjoying the significant strategic benefits which we expect it to contribute to our overall business. We expect these synergies to include applying Akamon’s leading CRM and player management methodologies to the Diwip player base, and rich cross-selling opportunities that will be created through a vastly expanded base of players and game library. We are confident that these synergies will enhance the positive underlying trends at Diwip, and we reaffirm our guidance of CAD $25 – 30 million in EBITDA for 2016.”
Imperus expects to release its full results for the three and nine months ended September 30, 2015 by the end of November 2015 and plans to announce a date for an investor conference call.
Financial Results and Non-GAAP Measures
Imperus has not audited or reviewed the financial results of Akamon or Diwip. The Company has included certain Non‐GAAP performance measures, namely EBITDA and adjusted EBITDA, within this press release. The Company believes that, in addition to conventional measures prepared in accordance with GAAP, Imperus and certain investors use this information to evaluate the Company’s performance and ability to generate cash, profits and meet financial commitments. These Non‐GAAP measures are intended to provide additional information, do not have any standardized meaning prescribed by IFRS, should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP and may not be comparable to similar measures presented by other issuers.
Imperus Technologies Corp., the parent company of Diwip, is a developer of social and mobile gaming for PC, Mac, iOS and Android platforms. Diwip designs, develops and distributes its top ranked social casino-themed games within online social networks (such as Facebook) and mobile platforms (such as Android or iPhone). All of Diwip’s games are free to play and generate revenue primarily through the in-game sale of virtual coins.
Mr. Arlen Hansen
E: firstname.lastname@example.orgImperus Technologies Corp.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute “forward looking information” which involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this press release, such forward looking information may use such words as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. Forward looking information includes, but is not limited to, the closing of the Akamon transaction, financing the Akamon transaction, the future prospects, financial results, operations and success of Akamon, Diwip and Imperus. Forward-looking information is provided for the purpose of presenting information about management’s current expectations relating to the future events and the operating performance of the company, and readers are cautioned that such information may not be appropriate for other purposes. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the company to finance the Acquisition, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Imperus or the Acquisition target operates. The foregoing list of factors is not exhaustive. Please see the Company’s short form prospectus dated March 27, 2015, the Company’s Annual Information Form dated December 6, 2014 and other documents available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
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