Telenav, Inc. Provides Earnings Guidance for the First Quarter Ending September 30, 2019; Announces Goodwill Impairment for the Fourth Quarter Ended June 30, 2019
August 08, 2019 at 04:05 pm EDT
Telenav, Inc. provided earnings guidance for the first quarter ending September 30, 2019. For the first fiscal quarter ending September 30, 2019, total revenue is expected to be $62 million to $64 million, assuming approximately $6 million from the OpenTerra transaction with Grab and excluding advertising revenue. Net loss is expected to be $4.5 million to $5.5 million.
The company announced goodwill impairment for the fourth quarter ended June 30, 2019. For the quarter, the company reported Goodwill impairment of $2,556,000.