YOU On Demand reports 16% increase in Q2 2016 revenues

YOU On Demand Holdings, Inc. (NASDAQ: YOD) has reported second quarter 2016 revenue of USD1.48 million compared to USD1.269 million in the first quarter 2016, an increase of 16.6. percent quarter over quarter, the company said.

Cost of revenue was approximately USD800,000 for the second quarter 2016, as compared to USD829,000 for the second quarter 2015. The company said the decrease of approximately USD29,000, or three percent, was primarily due to delays in expected revenue from specific content titles.

Gross profit for the second quarter 2016 was approximately USD680,000 as compared to gross profit of USD651,000 during the same period in 2015.

SG&A expenses for second quarter 2016, increased approximately USD150,000, to USD1.809 million, as compared to USD1.659 million in the second quarter 2015.

Net loss was USD1.588 million for the second quarter 2016 compared to USD1.317 million in the comparable 2015 period.

As of June 30, 2016 the company had cash of approximately USD2.4 million and total current assets of approximately USD6.9 million.

YOU On Demand Holdings, Inc. is a premium content video on demand service provider in China evolving into a global, mobile-driven, consumer data management platform for both enterprises and consumers.