LIMERICK, IRELAND — (Marketwired) — 11/10/16 — (NASDAQ: OHGI), a leading carrier-grade VoIP solution for mobile providers and smartphones, today announced its financial results for the third quarter and nine month period ended September 30, 2016. One Horizon sells its white label Voice over IP technology to cellular operators around the world and operates its own direct-to-consumer brand Aishuo inside China. Company–s patented technology consumes 10x less cellular bandwidth per minute and uses 8x less battery life than competing mobile VoIP technologies making it an ideal smartphone app for affordable voice roaming and for use in emerging markets that have older cellular infrastructures.
Brian Collins, CEO of One Horizon Group, stated, “Today, our VoIP technology is live all over the world and, most importantly, is now available to millions throughout new emerging markets. The successful deployment and value we created for Smart Communications and their subscribers, validated our business model and confirmed the value of our technology with other leading carriers. We have closed contracts with three carriers in Latin America and Africa in the third quarter and we are currently in active discussions with other carriers in Latin America, Africa, Asia and the Middle East.”
Signed licensing agreement with ., Brazil–s leading Voice and Data services provider with over 100,000 enterprises as clients and millions of subscribers in Latin America. One Horizon–s agreement with Hyette, to go live first in Brazil and Colombia, marks the Company–s first entrance into Latin America and falls in line with its initiative to deploy their technology throughout the region.
Signed licensing agreement with Zimbabwe–s leading mobile network operator. The application allows Zimbabweans to make low cost, high-quality phone calls and is fully integrated with Zimbabwe–s leading secure mobile payment wallet. This marks the Company–s first deployment in Africa.
Sold its second software license in the Philippines for its data roaming VoIP solution, branded Marino All Abroad, specifically targeting seafarers with a higher estimated ARPU due to the longevity of their travels. The service is offered through Smart Communications, the Philippines– leading wireless service provider targeting approximately 460,000 Filipino seafarers worldwide. One Horizon receives over $4 per seafarer subscriber.
Released a new cashless payment service for mobile operators to allow users to purchase call credit using their debit or credit card.
Released new software that allows app users to purchase packages of minutes and to automatically renew their package subscription when it expires.
Aishuo teamed up with global data-roaming SIM-card providers to offer its subscribers a direct, inside-Aishuo-app purchase of a local SIM-card for their chosen destination. The SIM-card is delivered to the subscribers home in China before they leave on vacation. Aishuo–s travel SIM-card is used to give the subscriber affordable cellular Internet access so they can call China using the Aishuo app for the same price as a local call. We believe this is a unique and powerful combination for Chinese travelers.
Mr. Collins continued, “Downloads of our B2C application, Aishuo, continue to increase, totaling 43 million as of last month. It is important to note that while our competitors are offering their applications for free, we are monetizing our subscribers because Aishuo offers a tremendous value for the user. It is our technological advantage on the often poor quality Chinese cellular networks that drives users to pay for Aishuo calls rather than seek a free, low quality, often dropped, call from other Chinese VoIP apps. Today, we continue to focus on increasing the number of downloads and building our brand. As the market matures and becomes educated to the benefits of our technology versus our competitors, we are confident revenue growth will follow.”
Revenue for the nine months ended September 30, 2016 was approximately $1.3 million as compared to approximately $1.2 million for the nine months ended September 30, 2015, an increase of 7.7%. Revenue for the three months ended September 30, 2016 was approximately $287,000 as compared to approximately $319,000 for the three months ended September 30, 2015, a decrease of 10.0%.
Loss before taxes for the nine months ended September 30, 2016 was approximately $4.20 million as compared to loss of approximately $4.18 million for the same period in 2015. The small increase in loss was primarily due to the increase in operating expenditure less the increase in revenue mentioned above. Loss before taxes for the three months ended September 30, 2016 was approximately $1,503,000 as compared to net loss of approximately $1,617,000 for the same period in 2015. The decrease in loss was primarily due to reduction in operating expenses mentioned above. Management believes the net loss will decrease and eventually become net income going forward with our growth in the business in Asia and also elsewhere in the world.
One Horizon Group, Inc. (NASDAQ: OHGI) a leading developer and operator of carrier-grade optimized VoIP solutions for mobile telcos and enterprises. The company currently services over 43 million subscribers across 20 licensed brands worldwide. The technology is one of the world–s most bandwidth-efficient mobile VoIP, messaging and advertising platforms for smartphones. Founded in 2012, the Company now has operations in Ireland, Switzerland, the United Kingdom, China, India, Singapore, Hong Kong and Latin America. For more information on the Company please visit
This news release may contain “forward-looking” statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company–s products, as well as additional risks and uncertainties that are identified and described in Company–s SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
Capital Markets Group, LLC
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