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Oblong | 10-Q: Q3 2024 Earnings Report

Oblong | 10-Q: Q3 2024 Earnings Report

Oblong | 10-Q:2024财年三季报
美股SEC公告 ·  2024/11/07 21:33

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Oblong reported Q3 2024 revenue of $578,000, down 33.7% year-over-year from $872,000 in Q3 2023. The decline was primarily due to lower demand for Mezzanine products and reduced Managed Services revenue. Gross profit margin decreased to 14% from 26% in the prior year quarter.Operating loss widened to $1.07 million from $925,000 in Q3 2023, mainly due to severance costs from headcount reductions. The Managed Services segment saw revenue fall 15.4% to $510,000, while Collaboration Products revenue dropped 74.7% to $68,000 year-over-year.Oblong is exploring strategic alternatives to enhance shareholder value, including potential business combinations, reverse mergers, or sale of the company. Management believes the COVID-19 pandemic has fundamentally altered demand for in-office collaboration technologies, impacting Mezzanine product sales. The company is seeking partnerships or acquisitions of early-stage tech firms with market-validated products to drive growth.
Oblong reported Q3 2024 revenue of $578,000, down 33.7% year-over-year from $872,000 in Q3 2023. The decline was primarily due to lower demand for Mezzanine products and reduced Managed Services revenue. Gross profit margin decreased to 14% from 26% in the prior year quarter.Operating loss widened to $1.07 million from $925,000 in Q3 2023, mainly due to severance costs from headcount reductions. The Managed Services segment saw revenue fall 15.4% to $510,000, while Collaboration Products revenue dropped 74.7% to $68,000 year-over-year.Oblong is exploring strategic alternatives to enhance shareholder value, including potential business combinations, reverse mergers, or sale of the company. Management believes the COVID-19 pandemic has fundamentally altered demand for in-office collaboration technologies, impacting Mezzanine product sales. The company is seeking partnerships or acquisitions of early-stage tech firms with market-validated products to drive growth.
Oblong报告2024年第三季度营业收入为578,000美元,同比下降33.7%,去年第三季度为872,000美元。收入的下降主要是由于对Mezzanine产品的需求下降以及管理服务收入减少。毛利润率从去年的26%降至14%。营业亏损扩大至107万美元,去年第三季度为925,000美元,主要是由于裁员产生的遣散费。管理服务部门的收入下降了15.4%,降至510,000美元,而协作产品的收入同比下降74.7%,降至68,000美元。Oblong正在探索战略选择以提升股东价值,包括潜在的业务合并、反向并购或公司出售。管理层认为,COVID-19疫情根本改变了对办公室协作技术的需求,从而影响了Mezzanine产品的销售。公司正在寻求与市场验证产品的早期科技公司的合作或收购,以推动增长。
Oblong报告2024年第三季度营业收入为578,000美元,同比下降33.7%,去年第三季度为872,000美元。收入的下降主要是由于对Mezzanine产品的需求下降以及管理服务收入减少。毛利润率从去年的26%降至14%。营业亏损扩大至107万美元,去年第三季度为925,000美元,主要是由于裁员产生的遣散费。管理服务部门的收入下降了15.4%,降至510,000美元,而协作产品的收入同比下降74.7%,降至68,000美元。Oblong正在探索战略选择以提升股东价值,包括潜在的业务合并、反向并购或公司出售。管理层认为,COVID-19疫情根本改变了对办公室协作技术的需求,从而影响了Mezzanine产品的销售。公司正在寻求与市场验证产品的早期科技公司的合作或收购,以推动增长。
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