Oblong, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 04:06 pm EDT
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Oblong, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.956 million compared to USD 1.33 million a year ago. Net loss was USD 1.05 million compared to USD 9.03 million a year ago. Basic loss per share from continuing operations was USD 0.78 compared to USD 4.37 a year ago.
For the six months, sales was USD 1.99 million compared to USD 2.87 million a year ago. Net loss was USD 2.27 million compared to USD 13.57 million a year ago. Basic loss per share from continuing operations was USD 1.4 compared to USD 6.57 a year ago.
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.