AMERI Holdings, Inc. (NASDAQ: AMRH), a specialized SAP® cloud, digital and enterprise services company, today reported its first-quarter 2019 financial results.
First Quarter 2019 vs. Fourth Quarter 2018• Revenue of $10.7 million compared to $10.3 million;
• Gross profit of $2.1 million compared to $1.9 million;
• Gross margin of 20.0% compared to 18.5%;
• GAAP net loss of $(1.9) million compared to $(19.8) million;
• Loss per share of $(0.04) compared to $(0.55);
• Adjusted EBITDA was $(0.5) million compared to $(0.5) million; and
• Cash and cash equivalents were $1.7 million at March 31, 2019.
First Quarter 2019 vs. First Quarter 2018
• Revenue of $10.7 million compared to $11.1 million;
• Gross profit of $2.1 million compared to $2.3 million;
• Gross margin of 20.0% compared to 21.2%;
• GAAP net loss of $(1.9) million compared to $(2.1) million;
• Loss per share of $(0.04) compared to $(0.11); and
• Adjusted EBITDA was $(0.5) million compared to $(0.1) million.
Recent Operational Highlights:
Secured a solutions win in the quarter to implement a data lake strategy powered by SAP HANA for an existing Fortune 500 client;
Established an SAP Cloud Innovation Center in India; and
Participated at SAPPHIRE NOW and ASUG Annual Conference as a Diamond-level sponsor; held successful sessions that brought together clients and prospective clients to learn about how Ameri100 can help them to leverage SAP solutions to drive greater innovation and business transformation.
Note: As of May 10, 2019 Ameri100 has received gross proceeds of $1.5 million from the exercise of 4,699,312 Series ‘A’ warrants. Series ‘A’ warrants have an exercise price of $0.3123 per share. All pre-funded Series ‘B’ warrants were exercised during 2018.
Update on Google Cloud Premier Partner CertificationAmeri100 continues to upgrade its current partner status to Premier Partner in Google’s Cloud Partner Program to support the migration of mutual clients’ SAP computing environments to the cloud. As previously disclosed, the Company has completed the requirements for 4 of 4 required sales accreditations and, as of today, has completed the requirements for 8 of 12 required technical accreditations for Premier Partner status. Upon completion of the accreditation process, the Company expects to be the only pure-play SAP service provider in the Program. Parallel to and uninhibited by upgrading the partner status to Premier level, the Company has multiple joint sales cycles with Google Cloud in the current sales pipeline. The Company is also involved in multiple joint marketing activities co-funded by Google to drive additional customer demand.
About Ameri100
Ameri100 is a specialized SAP® cloud, digital and enterprise services company which provides SAP® services to customers worldwide. Headquartered in Atlanta, Georgia, Ameri100 has offices in the U.S. and Canada. The Company also has global delivery centers in India. With its bespoke engagement model, the Company delivers transformational value to its clients across industry verticals. For further information, visit www.ameri100.com.
