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Earnings report Highlights
Revenues for the three months ended March 31, 2019 decreased by $0.38 million, or 3%, as compared to the three months ended March 31, 2018, mainly because we did not pursue certain low margin, professional services business during the three months ended March 31, 2019.
Our gross margin was 20% for the three months ended March 31, 2019, as compared to 21% for the three months ended March 31, 2018. The decrease in gross margin was due to one project related to solution based revenue which has lower margins, and no such revenue was applicable for the comparable period of 2018.
Our operating loss was $1.3 million for the three months ended March 31, 2019, as compared to $1.4 million for the three months ended March 31, 2018.
Our cash position was approximately $1.7 million as of March 31, 2019, as compared to $1.4 million as of December 31, 2018, an increase of approximately $0.3 million primarily due to the funds received from exercise of warrants.
We incurred recurring losses as a result of costs and expenses related to our selling, general and administration activities and acquisition strategy. As of March 31, 2019, we had negative working capital of $3.2 million and cash of $1.7 million. Historically, our principal sources of cash have included bank borrowings and sales of securities. Our operating expenses are likely to continue to grow and, as a result, we will need to generate significant additional revenues to cover such expenses.
AMERI HOLDINGS INC.
Ameri Holdings, Inc. specializes in delivering SAP cloud, digital and enterprise services to clients worldwide. Its services center around SAP and include technology consulting, business intelligence, cloud services, application development/integration and maintenance, implementation services, infrastructure services, and independent validation services, all of which can be delivered as a set of managed services or on an on-demand service basis, or a combination of both.
Earnings report Highlights
Revenues for the three months ended March 31, 2019 decreased by $0.38 million, or 3%, as compared to the three months ended March 31, 2018, mainly because we did not pursue certain low margin, professional services business during the three months ended March 31, 2019.
Our gross margin was 20% for the three months ended March 31, 2019, as compared to 21% for the three months ended March 31, 2018. The decrease in gross margin was due to one project related to solution based revenue which has lower margins, and no such revenue was applicable for the comparable period of 2018.
Our operating loss was $1.3 million for the three months ended March 31, 2019, as compared to $1.4 million for the three months ended March 31, 2018.
Our cash position was approximately $1.7 million as of March 31, 2019, as compared to $1.4 million as of December 31, 2018, an increase of approximately $0.3 million primarily due to the funds received from exercise of warrants.
We incurred recurring losses as a result of costs and expenses related to our selling, general and administration activities and acquisition strategy. As of March 31, 2019, we had negative working capital of $3.2 million and cash of $1.7 million. Historically, our principal sources of cash have included bank borrowings and sales of securities. Our operating expenses are likely to continue to grow and, as a result, we will need to generate significant additional revenues to cover such expenses.
AMERI HOLDINGS INC.
Ameri Holdings, Inc. specializes in delivering SAP cloud, digital and enterprise services to clients worldwide. Its services center around SAP and include technology consulting, business intelligence, cloud services, application development/integration and maintenance, implementation services, infrastructure services, and independent validation services, all of which can be delivered as a set of managed services or on an on-demand service basis, or a combination of both.