GAIN Capital Reports Operating Metrics for Q3, Revenues and Profit Retreat QoQ
- Over yearly basis, the company revenue was higher 12.6 percent year-over-year.
GAIN Capital Holdings, Inc. (NYSE: GCAP), the largest provider of retail FX in the United States, has just released its financial results for the third quarter ending September 30, 2017, showing a strong uptick in revenues relative to last year. However, the group’s financial metrics were pointed firmly lower when compared with the second quarter.
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GAIN’s net revenues under the US GAAP for Q3 2017 came in at $81.3 million, constituting a drop of 17.2 percent compared with $98.1 reported back in the second quarter. Over a yearly basis, the company revenue was higher 12.6 percent year-over-year from $72.2 million.
Furthermore, the nine month period ending September 30, 2017 netted a revenue drop of 19.3 percent year-on-year, having declined to $238.9 million from $296.1 million reported back in the same period of 2016.
Another area of strength this quarter at GAIN Capital was its adjusted EBITDA which was reported at $14.7 million, up 345 percent from only $3.3 million in the three months through September 30, 2016.
In terms of Gain Capital’s bottom line, the adjusted quarterly GAAP net income achieved $2.1 million compared to an adjusted net loss of $5.8 million in the third quarter of 2016. Gain Capital’s net income was $13.9 million in the second quarter.
CEO Glenn Stevens commented: "Our solid third quarter results reflect GAIN's ability to continue to execute and create value, even amid a period of multi-year low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term levels. Our year-over-year growth in revenue and adjusted EBITDA reflect our strategic focus on organic growth initiatives and effective cost management, which is on track to deliver total fixed cost savings of $15 million for 2017. The combination of strong cash flow generation and recent capital raises has improved our balance sheet and provided GAIN increased flexibility to pursue growth opportunities while continuing to return cash to shareholders."
GAIN Capital Holdings, Inc. (NYSE: GCAP), the largest provider of retail FX in the United States, has just released its financial results for the third quarter ending September 30, 2017, showing a strong uptick in revenues relative to last year. However, the group’s financial metrics were pointed firmly lower when compared with the second quarter.
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GAIN’s net revenues under the US GAAP for Q3 2017 came in at $81.3 million, constituting a drop of 17.2 percent compared with $98.1 reported back in the second quarter. Over a yearly basis, the company revenue was higher 12.6 percent year-over-year from $72.2 million.
Furthermore, the nine month period ending September 30, 2017 netted a revenue drop of 19.3 percent year-on-year, having declined to $238.9 million from $296.1 million reported back in the same period of 2016.
Another area of strength this quarter at GAIN Capital was its adjusted EBITDA which was reported at $14.7 million, up 345 percent from only $3.3 million in the three months through September 30, 2016.
In terms of Gain Capital’s bottom line, the adjusted quarterly GAAP net income achieved $2.1 million compared to an adjusted net loss of $5.8 million in the third quarter of 2016. Gain Capital’s net income was $13.9 million in the second quarter.
CEO Glenn Stevens commented: "Our solid third quarter results reflect GAIN's ability to continue to execute and create value, even amid a period of multi-year low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term levels. Our year-over-year growth in revenue and adjusted EBITDA reflect our strategic focus on organic growth initiatives and effective cost management, which is on track to deliver total fixed cost savings of $15 million for 2017. The combination of strong cash flow generation and recent capital raises has improved our balance sheet and provided GAIN increased flexibility to pursue growth opportunities while continuing to return cash to shareholders."