- Revenue increased 2% to $82.4 million from $81.1 million. Principal revenues totalled $79.7 million, which represents 1% growth, as compared to $78.8 million. Other partner revenue totalled $2.7 million, which represents 18% growth, as compared to $2.3 million.
- Gross profit was $10.1 million, or 12% of total revenue, compared to $10.1 million, or 12% of total revenue.
- Total ongoing operating expenses, which consist of employment expenses, marketing, technology, and other operating expenses, were $8.2 million compared to $8.1 million.
- Net income totalled $0.3 million, or $0.02 per diluted share, compared to $0.8 million, or $0.05 per diluted share.
- Adjusted EBITDA was $2.3 million, before share-based compensation expenses, compared to $2.5 million, before share-based compensation expenses.
- As of September 30, 2016, total funds available, comprised of cash and cash equivalents together with restricted cash and amounts with payment processors, was $55.6 million. Net operating cash, which is defined as total funds available less amounts payable to loyalty program partners, was $11.9 million.
|Total All Channels|
|Points/Miles Transacted (in 000s)||6,100,500||5,432,399||12||%||6,633,624||-8||%|
|No. of Points/Miles Transactions||606,555||594,936||2||%||630,489||-4||%|
- Launched a new hotel award redemption service with Hawaiian Airlines, a leading regional US airline, which allows their HawaiianMiles members to redeem their frequent flyer miles to pay for hotel bookings at over 150,000 properties around the globe.
- Launched the AIR MILES Travel Hub with Canada's AIR MILES® Reward Program, a new web-based booking platform that allows AIR MILES Collectors to book stays at more than 150,000 hotels and all-inclusive resorts around the world.
- Subsequent to quarter-end, expanded the functionality of the Miles&More Points Travel Service so that members of the Lufthansa program can use their miles to pay for all or part of a hotel booking.