RealNetworks (RNWK) Reports Q1 Loss of $0.27 on Revenues of $15.9M; Offer 2Q Revs. Views
- Wall Street ekes out gains to close languid week
- 'Faster than Porsche but Safer than Volvo': Tesla (TSLA) Begins Model S Plaid Deliveries, Priced Between $131,100 and $145,600
- Oil hits multi-year highs in third weekly gain on demand recovery
- Snowflake (SNOW) Falls Following Investor Day Despite Strong Guidance, Analysts Bullish But Say Investors May Have Wanted More
- Dollar looks stronger as euro and sterling dip
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
RealNetworks (NASDAQ: RNWK) reported Q1 EPS of ($0.27), versus ($0.12) reported last year. Revenue for the quarter came in at $15.9 million, versus $16.82 million reported last year.
- Revenue of $15.9 million, driven by growth in AI-businesses offset by declines in some of the Company's foundation businesses
- 160% year-over-year revenue growth for SAFRTM driven by successes in the U.S. Federal market and in global commercial applications
- Net loss of $(10.6) million; adjusted EBITDA loss of $(3.0) million marking the seventh consecutive quarter of year-over-year improvement; adjusted EBITDA of $(2.4) million excluding Scener
- Completed public offering of common stock for approximately $20.3 million in net proceeds on April 29, 2021
"2021 got off to a strong start at Real," said Rob Glaser, Founder, Chairman, and Chief Executive Officer of RealNetworks. "We continued to progress in our strategic transformation to an AI-based company. Our first AI business, SAFR, grew approximately 160% year-over-year and our second AI business, KONTXT, grew 10% year-over-year. We told our AI story publicly for the first time to investors as part of our recent public offering, and as a result, raised approximately $20.3 million in net proceeds. These additional resources position us well to accelerate our AI efforts."
RealNetworks sees Q2 2021 revenue of $14-15.5 million.
For the second quarter ending June 30, 2021, RealNetworks expects to achieve the following results from continuing operations:
- Total revenue is expected to be in the range of $14.0 million to $15.5 million.
- Adjusted EBITDA loss is expected to be in the range of $(6.0) million to $(4.5) million, including Scener expenses of up to $750,000, and in the range of $(5.25) million to $(3.75) million, excluding Scener (which is in the process of being spun out).
As announced as part of the Company's April 2021 public offering, RealNetworks' management currently expects 2021 will be an investment year that will position the Company for double-digit revenue growth in 2022 and 2023.
For earnings history and earnings-related data on RealNetworks (RNWK) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Chewy (CHWY) Tops Q1 EPS by 12c, Revs Beat Slightly
- Beyond Air, Inc. (XAIR) Misses Q4 EPS by 96c
- ICE Mortgage Technology (ICE) Acquires eVault Technology from DocMagic for Encompass eClose
Create E-mail Alert Related CategoriesCorporate News, Earnings, Guidance, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!