IDI Announces 2015 Financial and Operating Results

Data and analytics company completes transformational year, accomplishing significant milestones in its business strategy

Business Highlights

  • Acquired Fluent, Inc., on December 8, 2015, a leader in people-based, digital marketing and customer acquisition, serving over 500 leading consumer brands and direct marketers
  • Fluent revenue grew from $68 million in 2014 to $144 million in 2015 with strong earnings
  • Ended 2015 with $13.5 million in cash and cash equivalents
  • Over 2,000% increase of new customer acquisition in anticipation of idiCORE™ release
  • Released BETA version of next-generation data analytics platform, idiCORE
  • Established key data relationships acquiring billions of records
  • Launched risk management solutions idiBASIC™ and idiVERIFIED™
  • Discontinued legacy business and refocused all operational resources on data and analytics business
  • Completed staffing of Seattle technology team led by industry veteran Ole Poulsen

BOCA RATON, Fla.–(BUSINESS WIRE)–Mar. 14, 2016– IDI, Inc. (NYSE MKT: IDI), a data and analytics company, today reported revenue of $10.8 million for the three months ended December 31, 2015, and $14.1 million for the full year. The 2015 period includes $10.1 million in revenue from Fluent for the period of December 9, 2015, to year end.

“Following management’s formation of the data fusion business, initial capital raise and acquisition of Interactive Data, LLC in late 2014, 2015 proved to be a transformational year for IDI,” commented Derek Dubner, CEO of IDI. “In a year that was strategically focused on investment and development, we have laid the groundwork for a very successful business, while still ending the period with strong cash flow. Our acquisition of Fluent executed our plan to expand into the consumer marketing industry and provided key synergies. We see the momentum continuing for strong growth in 2016 and anticipate north of $170 million in revenue with continued strong earnings.”

IDI Vice Chairman Dr. Philip Frost stated, “We entered 2016 with great enthusiasm, in the enviable position of leveraging world-class, proprietary technology and a proven management team to compete in a rapidly growing market. I believe IDI is building a truly differentiated company in the field of data and analytics.”

Financial Highlights

Total revenue was $10.8 million for the three months ended December 31, 2015, and $14.1 million for the full year. The 2015 period includes $10.1 million in revenue from Fluent for the period of December 9, 2015, to year end. Cash and cash equivalents was $13.5 million as of December 31, 2015.

The Company reported a net loss of $32.6 million, a result of $45.0 million in non-cash share-related expenses (which includes a one-time expense of $39.7 million) offset by a $16.7 millionincome tax benefit, for the three months ending December 31, 2015. Net loss from continuing operations was $42.6 million, a result of $48.5 million in non-cash share-related expenses (which includes a one-time expense of $39.7 million) offset by a $16.6 million income tax benefit and net loss from discontinued operations was $42.0 million (which includes a $41.1 millionnon-cash disposal of discontinued operations) for the year ended December 31, 2015.

IDI also announced the appointment of Derek Dubner as Chief Executive Officer, and that Peter Tan, former Co-CEO, is no longer employed by IDI.

About IDI, Inc.

At IDI, we believe that time is your most valuable asset. Through powerful analytics, we transform data into intelligence, in a fast and efficient manner, so that our clients can spend their time on what matters most – running their organizations with confidence. Through leading-edge, proprietary technology and a massive data repository, our data and analytical solutions harness the power of data fusion, uncovering the relevance of disparate data points and converting them into comprehensive and insightful views of people, businesses, assets and their interrelationships. We empower clients across markets and industries to better execute all aspects of their business, from managing risk, conducting investigations, identifying fraud and abuse, and collecting debts, to identifying and acquiring new customers. At IDI, we are dedicated to making the world a safer place, to reducing the cost of doing business, and to enhancing the consumer experience.

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipate,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward looking statements include statements about whether 2015 was a transformation year for IDI; whether we will be able to capitalize on the key synergies following the Fluent acquisition; whether we will achieve the projections and whether IDI will be a truly differentiated company in the field of data and analytics. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release and are advised to consider the factors listed above together with the additional factors under the heading “Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K, as may be supplemented or amended by the Company’s Quarterly Reports on Form 10-Q and other SEC filings. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

FINANCIAL PROJECTIONS

This press release contains certain financial projections. These financial projections relate to future performance and reflect our views as at the date of this release and are subject to known and unknown risks, uncertainties and assumptions that may cause future results, performance or achievements to differ materially from those expected. We believe the expectations reflected in these financial projections are reasonable but no assurance can be given that these expectations will prove to be correct and these financial projections should not be unduly relied upon. We cannot guarantee future results, level of activity, performance or achievements. Consequently, we make no representation that the actual results achieved will be the same in whole or in part as those set out in the financial projections.

The financial projections contained in this release are expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance upon any such financial projections, which speak only as of the date made. Except as required by applicable law, we do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any financial projections to reflect any change in our expectations or any change in events, conditions, assumptions or circumstances on which any such financial projections are based.

IDI, INC.
CONSOLIDATED BALANCE SHEET
(Amounts in thousands, except share data)
(unaudited)

Attention: The internal data of table “7” is corrupted!

(1) All share data for all periods have been retroactively restated to reflect IDI’s 1-for-5 reverse stock split, which was effective on March 19, 2015.


IDI, INC.
CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
(Amounts in thousands, except share data)
(unaudited)

Attention: The internal data of table “8” is corrupted!

(1) All share data for all periods have been retroactively restated to reflect IDI’s 1-for-5 reverse stock split, which was effective on March 19, 2015. Earnings per share tables may contain summation differences due to rounding.


IDI, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
(Amounts in thousands, except share data)
(unaudited)

Attention: The internal data of table “9” is corrupted!

 

Source: IDI, Inc.

IDI, Inc.
Jordyn Kopin, 646-356-8469
Director, Investor Relations
JKopin@ididata.com

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