“In the second quarter, we achieved solid results overall with two particularly strong areas: our SAFR Facial Recognition platform and our free-to-play casual mobile games.”- Rob Glaser, Chairman and CEO, RealNetworks
RealNetworks has issued its Q2 results, for the quarter ended June 30th, 2019.
The results reflect the company’s unusual revenue mix in the wake of its acquisition of Napster, the music streaming brand. With the latter bringing in $28.6 million in revenues in the second quarter, it accounted for the bulk of RealNetworks’ $44.2 million in Q2 revenues. This reflects a growth trend, compared against $39.5 million in revenues (of which Napster contributed $24.3 million) in Q1; and against revenues of about $15.7 million in the corresponding period a year ago.
The revenues also reflect “solid traction” in RealNetworks’ efforts in free-to-play mobile games, according to CEO Rob Glaser; and growing interest in RealNetworks’ SAFR facial recognition platform, for which “booking were up significantly quarter-over-quarter.”
In his commentary, Glaser also emphasized SAFR’s technological sophisticated, asserting that the biometric security platform “continued to shine technically, retaining its position in the NIST ratings as the fastest and smallest of the most accurate Facial Recognition Systems.”
RealNetworks’ net result for the quarter was a loss of about $9.5 million, compared to a loss of about $6.9 million in the same quarter last year. Its adjusted EBITDA loss for the latest quarter was $6.3 million, compared to an EBITDA loss of $5.8 million a year ago.
Looking ahead, RealNetworks anticipates revenues in the range of $43 to $46 million for the third quarter, with an anticipated adjusted EBITDA loss in the range of $2.5 million to $5.5 million.
August 7, 2019 – by Alex Perala