Investorideas.com - #Tech News: NXT-ID Inc. (NASDAQ: $NXTD) Releases Financial Results for the Year Ended December 31, 2017

Investorideas.com - #Tech News: NXT-ID Inc. (NASDAQ: $NXTD) Releases Financial Results for the Year Ended December 31, 2017

NXT-ID,
Inc. (NASDAQ: NXTD), a provider of payment, credential
management, and authentication platform services, announces its financial
results for the year ended December 31, 2017.

2017 Year Highlights:

·       
Revenue
for 2017 was $23,316,969 compared to $7,736,320 for the previous year.

·       
Gross
Profit for 2017 was $11,631,522 compared to Gross Profit of $3,301,452 in 2016.

·       
Operating
expenses were $15,270,469 in 2017 compared to $10,011,540 in 2016.

·       
Operating
Loss for 2017 was reduced to $(3,638,947) compared to $(6,710,088) in 2016.

·       
Net
Loss Per Share was reduced to $(0.70) in 2017 from ($2.24) in 2016.

·       
*Adjusted
EBITDA for the year ended December 31, 2017, adjusted for non-cash charges, was
$1,947,839 compared to a loss of ($4,969,313) in 2016.

·       
Business
combination with Fit Pay, Inc. was completed in May 2017.