Facial recognition and computer vision specialist RealNetworks has issued its quarterly results for the third quarter.
The company saw revenues of $17.6 million for the quarter, up from $15.7 million in Q2 but slightly down compared to Q3 of last year, which brought revenues of $18.6 million. Its net result for Q3 of 2018 was a loss of $6 million, compared to a net loss of $6.9 million in Q2 and a net loss of $4.5 million a year ago. Its adjust EBITDA result was a loss of $3.4 million.
In a statement announcing the results, RealNetworks CEO Rob Glaser said his team is “encouraged” by the company’s performance and “the market’s initial reaction to our SAFR facial recognition platform,” which the company launched this past summer. Glaser highlighted his firm’s SAFR partnerships with Japan’s Net One Partners and Brazilian video surveillance specialist Seventh, adding that there are “more on the way.”
Glaser also highlighted his firm’s launch of Scener, which he described as a product and service aimed at “integrating synchronized commentary directly with OTT video.”
RealNetworks says that revenues for the fourth quarter are expected to be between $17.5 million and $19.5 million, and that it anticipates an adjusted EBITDA loss between $2 million and $4 million.
November 13, 2018 – by Alex Perala