Oblong Inc. Provides Preliminary Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2019
April 16, 2020 at 05:39 pm EDT
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Oblong Inc. provided preliminary earnings guidance for the fourth quarter and full year ended December 31, 2019. The company expects revenue of approximately $5.4 million in the fourth quarter of 2019 compared to $2.9 million in the fourth quarter of 2018. Approximately $3.2 million of the expected fourth quarter 2019 revenue was related to Oblong Industries, with no contribution from Oblong Industries in the fourth quarter of 2018. Net loss of approximately $5.6 million in the fourth quarter of 2019, compared to a net loss of $2.7 million in the fourth quarter of 2018.
For the year, the company expects revenue of approximately $12.8 million for full-year 2019 compared to $12.6 million for full-year 2018. Approximately $3.2 million of the expected full-year 2019 revenue was related to Oblong Industries, with no contribution from Oblong Industries in 2018.
Oblong Inc. is a provider of patented multi-stream collaboration products and managed services for video collaboration and network solutions. The Companyâs flagship product is called Mezzanine, a family of turn-key products that enable dynamic and immersive visual collaboration across multi-users, multi-screens, multi-devices and multi-locations. Mezzanine allows multiple people to share, control and arrange content simultaneously, from any location, enabling all participants to see the same content in its entirety at the same time in identical formats, resulting in enhancements to both in-room and virtual videoconference presentations. The Company has two segments: Collaboration Products and Managed Services. Collaboration Products segment represents the Oblong Industries business surrounding its Mezzanine product offerings. Managed Services segment represents the Oblong business surrounding managed services for video collaboration and network solutions.
OBLONG, INC. 