Urbanimmersive Media Release
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www.Urbanimmersive.com

WGAN-TV | Real Estate Pros: Intro to Urbanimmersive Real Estate Photography Services | Guest: Urbanimmersive VP, Business Development and Partnerships François-Hugues Liberge | Episode: 148 | Thursday, 9 June 2022 | Urbanimmersive website | WGAN-TV Podcast
WGAN-TV | Real Estate Pros: Intro to Urbanimmersive Real Estate Photography Services | Guest: Urbanimmersive VP, Business Development and Partnerships François-Hugues Liberge | Episode: 148 | Thursday, 9 June 2022 | Urbanimmersive website | WGAN-TV Podcast


www.Urbanimmersive.com


www.Urbanimmersive.com

Urbanimmersive Announces Its 2022 Third Quarter Financial Results

SAINT-HUBERT, Quebec, Thursday, August 25 25, 2022 (GLOBE NEWSWIRE) -- Urbanimmersive Inc. (“Urbanimmersive,” the “Company” or “UI”) (TSV-V UI) (OTCQB: UBMRF) today announced select financial results and presents business highlights for its third quarter ended June 30, 2022. The financial statements and related management’s discussion and analysis (“MD&A”) can be viewed on SEDAR at https://www.sedar.com

HIGHLIGHTS

1. For its third quarter ended on June 30, 2022 (Q3-22), the Company's revenues totaled $2,850k compared to $1,102k for Q3-21, an increase of +$1,748k or 159%;
2. For Q3-22, the Company sold 6,270 immersive 3D tours compared to 1,551 tours in Q3-21, an increase of 4,719 tours (304%);
3. For Q3-22, EBITDA totalled $296k compared to $103k for Q3-21, an increase of $193k;
4. For Q3-22, operating activities generated cash flows of +$365k compared to generated cashflows of $11k for Q3-21, an increase of +$354k. Liquidities have increased by $100k over the quarter to reach $1,317k by June 30, 2022.


Source: Urbanimmersive

ACHIEVEMENTS

“During the last quarter, we devoted a lot of energy to complete the integration of the real estate photography service businesses acquired at the beginning of this fiscal year, while taking advantage of our overall service offer by improving and adding some value-added products and services. The integration of those businesses is already a great success for us, it validates our strategic plan for accelerated growth and sets the stage for the next steps. Although the real estate market is still weak with a number of real estate transactions in decline, we have nevertheless managed to grow our new photography service business while generating attractive margins that should improve over time", said Ghislain Lemire, President and CEO of Urbanimmersive.

The Company has also issued 331,241 shares at a price of $0.31 to some Officers and employees as variable compensation covering the most recent quarter.

Exceptionally for this quarter, no investor video conference call will be held.

TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.

About Urbanimmersive

Urbanimmersive develops and commercializes real estate photography technologies and services focused on redefining industry visual content standards. The Company all-in-one platform enables high-volume photography businesses to increase operational productivity delivering feature-rich 3D tours and floor plans, leading-edge property websites and high-resolution AI-indexed images. The Company operating segments include software (SaaS), 3D photography equipment and, in a growing number of North American cities, technology-powered real estate photography service business units leading the industry photo-shoots standards transformation. Learn more at urbanimmersive.com .

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Source: Urbanimmersive