IDI Announces 2016 First Quarter Financial and Operating Results

Data and analytics company drives innovation, executing on growth in all segments and providing customers with market leading products

Business Highlights

  • Consolidated revenue increased to $39.4 million for the first quarter 2016 from $1.3 million for the first quarter 2015
  • Information Services and Performance Marketing segments contributed $11.0 million and $28.4 million in revenue, respectively
  • Achieved adjusted EBITDA of $2.4 million and positive cash flow from operating activities
  • Significant advancement of next-generation data analytics platform, idiCORE™
  • Continued new customer acquisition in anticipation of idiCORE release
  • Strategic partnership between Fluent and LiveRamp, an Acxiom company, to enable real-time custom audience creation and targeting
  • Rapid adoption of Fluent’s mobile app install product offering

BOCA RATON, Fla.–(BUSINESS WIRE)–May 5, 2016– IDI, Inc. (NYSE MKT: IDI), a data and analytics company, today reported revenue of $39.4 million and adjusted EBITDA of $2.4 millionfor the first quarter ended March 31, 2016.

“Following a transformational year in 2015, the first quarter demonstrated that we executed extremely well on all fronts,” commented Derek Dubner, CEO of IDI. “Both our Information Services and Performance Marketing segments saw robust growth, providing great momentum for full year 2016. We are pleased with the evolution of our data analytics platform, vertical penetration and customer acquisition, culminating with the commercial launch of our leading-edge, investigative solution, idiCORE, which occurred in April 2016. With this commercial launch, and the continued success of Fluent, we believe we are well positioned for the rest of the year to drive growth and strong earnings.”

Fluent CEO, Ryan Schulke, stated, “After a breakout 2015 of increased client demand for Fluent’s people-based marketing products, we are excited to be expanding our offerings to new verticals and formats. Our advertising partners span across all consumer-facing verticals, and Fluent’s customer acquisition platform and capabilities are enabling a differentiated foundation by which we can deliver highly-valuable, data-driven marketing services at scale.”

Financial Highlights

Total revenue was $39.4 million, with our Information Services and Performance Marketing segments contributing $11.0 million and $28.4 million, respectively, for the first quarter 2016, compared to $1.3 million, with our Information Services and Performance Marketing segments contributing $1.3 million and $0, respectively, for the first quarter 2015. Net cash provided by operating activities was $0.5 million for the first quarter 2016, compared to net cash used in operating activities of $1.9 million for the first quarter 2015. Adjusted EBITDA was $2.4 million for the first quarter 2016, compared to negative $0.8 million for the first quarter 2015. Cash and cash equivalents was $10.1 million as of March 31, 2016.

The Company reported a net loss of $6.8 million, a result of $7.4 million in non-cash share-based payments, partially offset by a $3.5 million income tax benefit for the first quarter 2016.

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.

RELATED LINKS: https://ididata.com and http://www.fluentco.com

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 we are well positioned for the rest of the year to drive growth and strong earnings. 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.

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

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

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

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Use of Non-GAAP Financial Measures

Management evaluates the financial performance of our business on a variety of key indicators, including adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure equal to net income (loss), the most directly comparable financial measure based on US GAAP, plus net loss from discontinued operations, interest expense, net, depreciation and amortization, share-based payments, and other adjustments, and minus income tax benefits, as noted in the table below.

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Source: IDI, Inc.

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

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