Chicken Soup for the Soul Entertainment Reports Second Quarter Results in Line With Expectations and Reiterates 2017 Full Year Financial Targets
“This filing does not give effect to the company’s August IPO and its positive impact on the company’s financial strength,” stated
Mr. Rouhana continued, “Our second quarter results are in line with our expectations. The vast majority of our revenue and adjusted EBITDA for 2017 will be recognized in our upcoming fourth quarter. This is consistent with our 2016 results where over 70 percent of our revenue and adjusted EBITDA was recognized in the fourth quarter. As indicated in our filing, we are reiterating our 2017 full year targets.”
In connection with its IPO and its listing on Nasdaq, the company was required to file its Form 10-Q for the second quarter of 2017 by
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This press release contains a non-GAAP financial measure (EBITDA), which is not recognized under GAAP, as a supplemental indicator of our operating performance. This non-GAAP financial measure is provided to enhance the readers understanding of our historical and current financial performance. EBITDA means earnings before interest, taxes, depreciation and amortization. Management believes EBITDA to be a meaningful indicator of our performance that provides useful information to investors regarding our financial condition and results of operations. The most comparable GAAP measure is operating income.
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