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GAIN Capital Reports Third Quarter 2017 Results

Key Results and Highlights for the Third Quarter
Net revenue increased 13% year-over-year to $81.3 million
GAAP net loss of $2.6 million, or $0.04 per share; adjusted net income of $2.1 million, or $0.05 per share
Recognized a non-cash charge associated with the refinancing of Convertible Senior Notes due 2018
Adjusted EBITDA of $14.7 million, compared to $3.3 million Q3 2016
Retail OTC and ECN average daily volume increased by 6% and 53%, respectively

BEDMINSTER, N.J., October 26, 2017 /PRNewswire/ -- GAIN Capital Holdings, Inc. ("GAIN") (NYSE: GCAP), a leading global provider of online trading services, announced financial results for the third quarter of 2017.

Net revenue for the quarter was $81.3 million, up from $72.2 million in the third quarter of 2016. Adjusted net income for the quarter was $2.1 million, which excludes a non-recurring, non-cash charge associated with the refinancing of $71.8 million of Convertible Senior Notes due 2018, compared to an adjusted net loss of $5.8 million in the third quarter of 2016. Adjusted EBITDA for the quarter was $14.7 million, up from $3.3 million in the third quarter of 2016. GAIN’s financial highlights are included in the chart below.

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Net Income/(Loss)
$
(2.6
)
 
$
(4.7
)
 
$
(7.5
)
 
$
14.5

Adjusted Net Income/(Loss)(1)
$
2.1

 
$
(5.8
)
 
$
(4.9
)
 
$
24.1

 
 
 
 
 
 
 
 
Net Revenue
$
81.3

 
$
72.2

 
$
238.9

 
$
296.1

Operating Expenses
(66.6
)
 
(68.9
)
 
(211.1
)
 
(233.4
)
Adjusted EBITDA(1)
$
14.7

 
$
3.3

 
$
27.8

 
$
62.7

 
 
 
 
 
 
 
 
Diluted GAAP EPS
$
(0.04
)
 
$
(0.11
)
 
$
(0.12
)
 
$
0.25

Adjusted EPS(1)
$
0.05

 
$
(0.12
)
 
$
(0.09
)
 
$
0.49

___________________________________
Note: Dollars in millions, except per share amounts and where noted otherwise. Columns may not add due to rounding.
1See below for reconciliation of non-GAAP financial measures.

“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 levels,” said Glenn Stevens, CEO of GAIN Capital. “Our year-over-year growth in revenue and adjusted EBITDA


The following information was filed by Gain Capital Holdings, Inc. (GCAP) on Thursday, October 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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