Oblong (NASDAQ: OBLG) reported Q2 EPS of ($0.08), $0.01 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $2.05 million versus the consensus estimate of $4.04 million.

Pete Holst, Chairman and CEO of Oblong, commented, “The recent selection of Mezzanine by one of the world’s most prominent digital entertainment companies is incremental proof that reinforces the prioritization of hybrid collaboration and the importance of envisioning new types of workspaces as employees begin a measured return to corporate office environments. Beyond this initial engagement phase, we are managing a number of proposed and actual pilot implementations across a variety of industries that have incredible potential to scale in concert with our customers\' vision of a redesigned workplace. As we build our next-generation of hybrid workspace solutions, investments in product development, design and customer engagement will be our core focus over the coming months.”

Holst continued, “In spite of recent dynamics related to Covid-19 variants across the world and a tempered return to commercial office spaces, we continue to see growing inquiries and requests to test and implement prototypes that address hybrid collaboration and, more importantly, increase engagement and accelerate productivity. Following the closure of many commercial spaces over the last 18 months, recent trends indicate that the \'full\' return of employees is both unlikely and moving at a much more cautious pace than originally anticipated. While near-term employee engagement is likely to remain mostly remote, we believe there are growing indicators that applicability of our solutions and substantial domain expertise will have massive commercial appeal for the workforce of the future. Macro data continues to support significant growth for hybrid communications tools, and the market opportunity is highly compelling.”

Holst concluded, “Subsequent to the end of the second quarter, our board appointed two new independent directors, Mr. Matt Blumberg and Ms. Debby Meredith, to the board. They are dedicated, successful leaders with unique executive-level experience, strategic insights, and track records of success in technology that we are fortunate to leverage at Oblong. Elevating our corporate governance with these two talented professionals was timely as we continue to invest in engineering and product development for long-term growth.”

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