U-Vend, Inc. Announces Record 2015 Financial Results

SANTA MONICA, CA--(Marketwired - May 3, 2016) - U-Vend, Inc. (OTCQB: UVND) (the "Company"), a consumer products and technology company that develops, distributes, and markets next-generation self-serve electronic kiosks and merchandisers with a digital component across North America, today announced the financial results for the Company's fiscal year ended December 31, 2015.

"While I am pleased that we were able to increase our 2015 year over year revenues by over 332%, I am equally pleased with our operational performance supporting the continued implementation of the robust business foundation needed to support the continued expansion of our business model," stated Raymond Meyers, CEO of U-Vend, Inc. "As we anticipate introducing and penetrating the market with our Frozen Pond™ Premium Ice Cream product, the Official Ice Cream of the NHL®, and secure sizable retail and wholesale distribution partners, we expect to continue to meet our internal goal of period over period revenue growth. The globally-recognized brand partnerships we have been able to establish, the creative consumer products we are developing; coupled with the geographical expansion of our retail self-serve kiosk and merchandiser locations, provide us with tremendous long-term opportunity," added Meyers.

Select Financial Data Year Ended December 31, 2015

• Revenues for the twelve months ended December 31, 2015 increased 332% to $891,227 as compared to revenue of $268,804 for the twelve months ended December 31, 2014
  
  
• Gross profits for the year ended December 31, 2015 increased 386% to $351,228 as compared to gross profit of $90,965 for the year ended December 31, 2014
  
  
• Gross margin for the year ended December 31, 2015 increased to 39.8% as compared to gross margin of 33.8% for the year ended December 31, 2014
  
  
• Net loss for the year ended December 31, 2015 increased 2.4% to $2,050,574 as compared to a net loss of $2,002,586 for the year ended December 31, 2014
  
  
• Basic and diluted net loss per share of ($0.15) per common share for the twelve months ended December 31, 2015 compares to the ($0.23) net loss per common share for the twelve months ended December 31, 2014
  
  

A full analysis of results for the year ended December 31, 2015 is available in the Company's Form 10-K, which is available on the Company's website at www.u-vend.com or through the Securities and Exchange Commission's Edgar database at www.sec.gov.