VR Education’s (VRE) 2018 results published today are a testament to a robust 2018, which saw the company become a publicly listed business and launch its flagship ENGAGE platform. 2018 revenue was up 15% YoY and came in 7% ahead of our forecast. Lower than forecast cost of sales and G&A expenses saw VRE’s EBITDA loss come in 30% below our forecast. The company ended 2018 with a robust balance sheet: net cash of €3.5m (+3% vs. our forecast) compared to net debt of €1
06 Mar 2019
Strong 2018 results cap off an eventful year
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Strong 2018 results cap off an eventful year
Engage XR Holdings PLC (EXR:LON) | 2.0 0 0.0% | Mkt Cap: 10.5m
- Published:
06 Mar 2019 -
Author:
Brendan D’Souza -
Pages:
8
VR Education’s (VRE) 2018 results published today are a testament to a robust 2018, which saw the company become a publicly listed business and launch its flagship ENGAGE platform. 2018 revenue was up 15% YoY and came in 7% ahead of our forecast. Lower than forecast cost of sales and G&A expenses saw VRE’s EBITDA loss come in 30% below our forecast. The company ended 2018 with a robust balance sheet: net cash of €3.5m (+3% vs. our forecast) compared to net debt of €1