Marathon Patent Group (MARA) Misses Q1 EPS by 1c, Miss on Revenues

Marathon Patent Group (NASDAQ: MARA) reported Q1 EPS of ($0.16), $0.01 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $78 thousand versus the consensus estimate of $100 thousand.

Operating Results for the Quarter Ended March 31, 2017 / Subsequent Events

• Total revenue of $78 thousand and $2.1 million for the three months ended March 31, 2017 and March 31, 2016, respectively.
• Net operating loss was approximately $2.8 million (including non-cash expenses) for the three months ended March 31, 2017 compared to a net operating loss of $4.9 million for the three months ended March 31, 2016. The net operating loss includes non-cash operating expenses, which primarily relate to share based compensation and amortization and impairment of patents, in the amounts of $0.7 million and $3.0 million for the three months ended March 31, 2017 and March 31, 2016, respectively.
• Our GAAP net loss was $(0.19) per basic and diluted share for the three months ended March 31, 2017, with 19,059,559 weighted average basic and diluted shares outstanding as of March 31, 2017, compared to a GAAP net loss of $(0.26) per basic and diluted share for the three months ended March 31, 2016, with 14,967,141 weighted average basic and diluted shares outstanding as of March 31, 2016.
• On a per share basis, our Non-GAAP net loss was $(0.13) per basic and diluted share for the three months ended March 31, 2017, compared to a Non-GAAP net loss of $(0.16) per basic and diluted share for the three months ended March 31, 2016.
• Entered into agreement related to a payoff of the debt held by DBD Credit Funding, LLC.

For earnings history and earnings-related data on Marathon Patent Group (MARA) click here.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Goldman reinstates Estee Lauder rating, sees turnaround driving growth and margins
• Alphabet slides over 6% as AI brain drain and SpaceX slump converge