RealNetworks to Issue Q3 Update on Oct. 30

Biometrics News - RealNetworks to Issue Q3 Update on Oct. 30

Seattle-based RealNetworks has set a date for the publication of its third quarter results for 2019: they will be issued on October 30, after market close.

Judging by RealNetworks’ Q2 report issued in August, the forthcoming should reflect an interesting revenue mix. RealNetworks acquired the music streaming platform Napster by doubling its stake in the company earlier this year, with the latter bringing in $28.6 million of RealNetworks’ $44.2 million in revenues in the second quarter. RealNetworks also offers mobile games, an area in which CEO Rob Glaser reported “solid traction” in the Q2 update.

Both of these business areas are somewhat odd bedfellows with respect to RealNetwork’s flagship biometric offering, SAFR, a facial recognition system designed for security surveillance deployments. In Q2, Glaser said that bookings for SAFR had significantly increased quarter-over-quarter. The company had brought on Jay Burrell as its new Chief Revenue Officer in the spring of this year, with a mandate to boost SAFR sales.

RealNetworks also asserted in its Q2 report that revenues for Q3 were anticipated to be in the range of $43 to 46 million, while an adjusted EBITDA loss of somewhere between $2.5 and 5.5 million was also expected. This could reflect a significant improvement over RealNetworks’ adjusted EBITDA loss of $6.3 million in Q2.

The company says its Q3 report will arrive alongside a conference call scheduled to begin at 4:30pm ET on October 30. This will also be streamed online through RealNetworks’ investor relations site, with a replay archived upon the call’s completion.

October 11, 2019 – by Alex Perala