Blue Calypso Reports Third Quarter 2016 Financial Results

DALLAS, Nov. 10, 2016 (GLOBE NEWSWIRE) -- Blue Calypso, Inc. (OTCQB:BCYP), an innovator of mobile consumer activation, engagement and social advocacy solutions for product brands and brick-and-mortar retailers, reported financial and operating results for its third quarter ended September 30, 2016.

Third Quarter 2016 Financial Highlights vs. Year-Ago Quarter
  • Revenue in Q3 2016 totaled $0.3 million versus $0.5 million in Q3 2015
  • Total operating expenses were $1.4 million versus $1.1 million in Q3 2015
  • Net loss in Q3 2016 was $1.1 million versus a net loss of $0.8 million in Q3 2015

Key Third Quarter 2016 and Subsequent Highlights
  • Launched new pilot engagement with Fortune Global 500 beverage company
  • Commenced new pilot engagement with Pizza Hut franchisee in Chicago market
  • Targeted new services revenue opportunity within existing pipeline of business
  • Secured new national horticultural clients for 2017 tagging programs
  • Expanded technology platform to improve user experience
  • Shifted sales and marketing efforts to channel partners
  • Deployed KIOSentrix┬« platform across approximately 4,000 U.S. retail locations and 20,000 products in the nine months ending September 30, 2016

Third Quarter 2016 Financial Results

Revenue in the third quarter of 2016 decreased approximately 49% to $0.3 million versus $0.5 million in the third quarter of 2015. The decrease in revenue is from our project based revenue which is subject to timing of development projects and as a result of licensing fees associated with related settlements.

Cost of revenue in the third quarter of 2016 totaled $0.2 million versus $0.4 million in the same year-ago quarter. The decrease in cost of revenue is primarily attributable to costs operating our development labs and fees paid in connection with reached settlements.

Total operating expenses, including cost of revenue, for the third quarter of 2016 increased to $1.4 million versus $1.1 million in the third quarter of 2015. The increase in total operating expenses is primarily attributable to the increase in share based compensation.