Noble Iron Inc. announced its interim unaudited consolidated financial results for the three- and six-month periods ended June 30, 2016, reporting the launch of FleetLogic, a mobile and desktop software application for equipment technicians, operators and managers.
Financial highlights include:
- Revenue of $12.3 million during first six months of 2016, compared to revenue of $12.2 million during the same period in 2015. Second quarter revenue of $5.8 million, compared to $6.6 million during the same period in 2015
- First six months Adjusted EBITDA loss of ($0.6) million, compared to $0.1 million gain during the same period in 2015. Second quarter EBITDA loss of ($0.4) million, compared to $0.2 million gain during the same period in 2015
- During the second quarter, the Company launched "FleetLogic" and booked $0.4 million in deferred SaaS revenue for itin Q2, and will recognize the revenue during Q3.
