Symbility Solutions Announces 2017 Financial Guidance

By a News Reporter-Staff News Editor at Investment Weekly News -- Symbility Solutions Inc. ("Symbility" or the "Corporation") (TSX.V: SY), a global software company focused on modernizing the insurance industry, is pleased to announce fiscal 2017 Guidance. In 2017, the Corporation estimates that it will generate revenue in the range of $40 million to $42 million. This revenue growth is expected to generate Adjusted EBITDA1 in the range of $2 million to $3 million. The Corporation also expects to have positive cash flow.

"The momentum we created in 2016 saw Symbility sign some significant new contracts in North America and Europe; plus, entry into Australia, which lead to revenue growth beyond our original expectations," commented James Swayze, CEO of Symbility Solutions. "Considering our continued expansion in pipeline opportunities and the ongoing momentum in our sales cycles, we are confident that we can maintain our revenue growth rate in this range while generating sufficient operational leverage to achieve a positive Adjusted EBITDA margin."

1 Adjusted EBITDA is a non-IFRS measure and is calculated as earnings before interest income, taxes, depreciation and amortization, impairment losses, stock-based compensation, and other non-recurring gains or losses including transaction costs related to acquisition and restructuring cost. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Adjusted EBITDA does not have any standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures presented by other companies. Adjusted EBITDA should not be considered in isolation or as a substitute for net earnings (loss) prepared in accordance with IFRS as issued by IASB. All other financial measures referenced herein have been prepared in accordance with International Financial Reporting Standards unless stated otherwise.

Keywords for this news article include: Investment and Finance, Symbility Solutions Inc.

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