Perk.com, the cloud-based mobile rewards platform provider, just reported financial results for Q1 2016. Total revenue increased 194% to $17.3m. The company completed its purchase of the Viggle App in February 2016. Net loss came in at $2.3m, due to last year’s increase in share-based compensation expenses as well as acquisition expenses.
Perk.com records revenue growth
During the first quarter 2016, Perk also partnered with mobile marketing firm Celltick to provide rewards for its Start app and drive its mobile rewards programme towards a larger audience.
Ted Hastings, Chief Executive Officer, Perk, commented on the months to come, saying:
“In the months ahead, we will continue to invest in marketing efforts that will contribute to the buildout of the Perk brand and look to increase our investments in our direct-ad sales team and Corona platform. We believe these efforts and investments will lead to an increase in advertising opportunities that will further generate higher revenues for the Company. We believe Perk’s mobile rewards platform offers advertisers a unique value proposition that allows brands to connect with consumers in meaningful ways that results in the monetization of our apps and websites as well as the apps of our third party publishers. We believe that as we continue to invest in our Corona platform and invest in building out seamless monetization partnerships and solutions for the platform, we will attract even more developers to join our existing network of over 300,000+ developers around the globe. We are focused on continuing to invest in organic growth and targeted acquisitions that accelerate our business objectives and produce solid returns for our shareholders over the long term.”