TUCSON, Ariz., April 4, 2016 /PRNewswire/ -- Today, Monday, April 4, 2016, AudioEye, Inc. (AEYE) ("AudioEye" or the "Company") will hold a conference call at 4:30pm ET to discuss financial results from the 2015 fiscal year and operating results for the first quarter of 2016. Details for the call are as follows:
Monday, April 4, 2016
4:30pm ET, 1:30pm PT
Conference Replay available 1 hour after the end of the conference
Conference Replay ends April 11, 2016
Replay Access Code: 10083511
Replay Access Code: 10083511
AudioEye key business results include unaudited cash contract sales bookings for the months of December 2015 through March 2016 of $638,147 including several household brands across a variety of industries. The pipeline of companies with proposals or contracts has continued to expand and is currently approximately $2,397,494 million. A similar pipeline report was approximately $945,045 at the end of September, 2015. This pipeline should be viewed in the context of our limited operating history which does not yet provide us enough information or evidence to reliably estimate conversion rates from a prospective customer to a customer with a signed contract.
About AudioEye, Inc.
Incorporated in 2005, AudioEye provides enhanced web access and usability for its clients' customers through AudioEye's Ally™ platform. The Ally+ product allows AudioEye's clients to reach more customers, build more brand loyalty, retain more customers and secure more repeat business.
AudioEye's common stock trades on the OTCQB under the symbol "AEYE". The Company maintains offices in Tucson and Atlanta.
Any statements in this press release about AudioEye's expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance are not historical facts and are "forward-looking statements" as that term is defined under the federal securities laws. All references to the Company's target 2016 operating and financial results are forward-looking. These statements are often, but not always, made through the use of words or phrases such as "believe", "anticipate", "should", "intend", "plan", "will", "expects", "estimates", "projects", "positioned", "strategy", "outlook" and similar words. You should read the statements that contain these types of words carefully. Such forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what is expressed or implied in such forward-looking statements. In particular, forecast operating results may be affected by a number of risks. These risks include our limited history closing significant customer contracts and deriving revenue therefrom; our limited financial resources and our need to raise additional capital to continue to grow; our highly concentrated base of customers, such that the loss of any single customer would have a material adverse impact on our business and operating results. In particular, due to our our limited history, it is difficult to predict the rate or timing of conversion of our sales pipeline or contract bookings into recognized revenue in accordance with GAAP. Accordingly, these disclosures should not be seen as indicative of future revenue in any given period or ever. There may be events in the future that AudioEye is not able to predict accurately or over which AudioEye has no control. Other risks are described more fully in AudioEye's filings with the Securities and Exchange Commission. Forward-looking statements reflect management's analysis as of the date of this press release and AudioEye urges you not to place undue reliance on these forward-looking statements. AudioEye does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or uncertainties after the date hereof or to reflect the occurrence of unanticipated events.
Non-GAAP Financial Measures
AudioEye has provided in this release information related to bookings that has not been prepared in accordance with GAAP. AudioEye uses this non-GAAP financial measure internally in analyzing its financial results and believes it is useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Our use of non-GAAP financial measures may not be consistent with the presentations by similar companies in our industry.
Bookings are comprised of the total value of new customer contracts closed during a specified period, including license, maintenance, services, term license and subscription renewals, that we believe to be firm commitments to provide our software solutions and related services. Bookings by their nature are significantly based on estimates and judgments that we make regarding total contract values, and our bookings growth projections are not meant as a substitute measure for revenue in accordance with GAAP. We believe our annual bookings growth projection is useful to investors as an additional means to reflect our annual business performance.
These non-GAAP estimates are not measurements of financial performance prepared in accordance with GAAP, and we are unable to reconcile these forward-looking non-GAAP financial measures to their directly comparable GAAP financial measures because the information described above which is needed to complete a reconciliation is unavailable at this time without unreasonable effort.
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