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uSell.com, Inc. is a technology based company focused on extracting the maximum value from used mobile devices, at large scale. uSell acquires products from both individual consumers, on its website, uSell.com, and from major carriers, big box retailers, and manufacturers through its subsidiary, We Sell Cellular. These devices are then distributed globally, leveraging both a traditional sales force and an online marketplace where professional buyers of used smartphones compete to buy inventory in an on-demand fashion. Through participation on uSell's marketplace platforms and through interaction with uSell's salesforce, buyers can acquire high volumes of inventory in a cost effective manner, while minimizing risk.

Visit www.uSell.com and http://wesellcellular.com

Key Business Highlights for Third Quarter and First Nine Months of 2017:

  • Launched new platform to enable select buyers to purchase directly through an online portal
  • Continued to invest in warehouse operations in order to increase capacity, decrease processing lead-time, and provide device level traceability to suppliers
  • Largest supplier’s share of purchases dropped to 34% for the three months ended September 30, 2017, down from 62% during the same period in 2016
  • Gross Merchandise Volume (“GMV”), a non-GAAP financial measure, which we began reporting for the second quarter, increased by 37% and 30% for the quarter and the nine months ended September 30, 2017, respectively

Key Financial Highlights for Third Quarter 2017:

  • Revenues increased by $4,056,000, or 16%, to $28,873,000 for the three months ended September 30, 2017, from $24,817,000 for the three months ended September 30, 2016
  • Operating loss for the three months ended September 30, 2017 was $288,000, compared to $7,000 for the three months ended September 30, 2016, a change of $281,000
  • Net loss for the three months ended September 30, 2017 was $625,000, compared to $412,000 for the three months ended September 30, 2016
  • Adjusted EBITDA, a non-GAAP financial measure, was $203,000 for the three months ended September 30, 2017, compared to $590,000 for the three months ended September 30, 2016
  • GMV, which is a non-GAAP financial measure, increased by 37% to $34.0 million for the three months ended September 30, 2017, compared to $24.8 million for the three months ended September 30, 2016

Key Financial Highlights for Nine Months Ended September 30, 2017:

  • Revenues increased by $8,043,000, or 11%, to $81,142,000 for the nine months ended September 30, 2017, from $73,099,000 for the nine months ended September 30, 2016
  • Operating loss for the nine months ended September 30, 2017 was $546,000, compared to $1,075,000 for the nine months ended September 30, 2016, an improvement of $529,000, or 49%
  • Net loss for the nine months ended September 30, 2017 was $2,520,000, compared to $2,535,000 for the nine months ended September 30, 2016
  • Adjusted EBITDA, a non-GAAP financial measure, was $909,000 for the nine months ended September 30, 2017, compared to $793,000 for the nine months ended September 30, 2016
  • GMV, a non-GAAP financial measure, increased by 30% to $95.1 million for the nine months ended September 30, 2017, compared to $73.1 million for the nine months ended September 30, 2016

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Company Information

uSell.com, Inc.
171 Madison Avenue
17th Floor
New York, NY 10016

Issue Type: Common Stock
Sector: Services
Industry: Retail (Catalog and Mail Order)

Management

Daniel Brauser
Executive Chairman

Nikhil Raman
Chief Executive Officer

Jennifer Calabrese
Interim Chief Financial Officer


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hart@haydenir.com




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