Sign In  |  Register  |  About Sunnyvale  |  Contact Us

Sunnyvale, CA
September 01, 2020 10:10am
7-Day Forecast | Traffic
  • Search Hotels in Sunnyvale

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Creative Realities Confirms Guidance for 2H2023; Announces Third Quarter 2023 Earnings Conference Call Information

  • Projects record revenue of $27.3M - $29.3M for 2H/2023
  • Projects record revenue of $46.4M - $48.4M for FY2023
  • Reiterates forward 12-month revenue projection of $60 million- $80 million

LOUISVILLE, Ky., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Creative Realities, Inc. (“Creative Realities,” “CRI,” or the “Company”) (NASDAQ: CREX, CREXW), a leading provider of digital signage and media solutions, announces expectation to achieve specific analyst consensus guidance for the second half of 2023 and conference call to review results for the three and nine months ended September 30, 2023.

The Company projects record revenues between $11.3 and $12.3 million and between $16.0 and $17.0 million in the third and fourth quarters of 2023, respectively, in-line with analyst consensus estimates for the combined second half of 2023. This would result in record second half and fiscal year revenues of between $27.3 and $29.3 million and between $46.4 and $48.4 million, respectively.

Mr. Mills commented, “As we approach the end of the fiscal year, we have enhanced visibility and confidence into our anticipated full year results, which we anticipate will meet consensus analyst expectations for the second half and full year 2023 despite a previously disclosed shift in timing of revenue recognition on installation activities associated with the deployment of a large media network for an experiential leisure client. The revenue ramp associated with that particular contract shifted as installation activities began in October 2023 following resolution of a prior supply chain issue. The total revenue commitment of this engagement remains intact – it is just timing that has changed.”

“We previously communicated that the Company projects forward 12-month revenues between third quarter 2023 and second quarter 2024 of between $60 million to $80 million. We reiterate this projection and continue to expect significant improvements in profit margins, the net effect of which, working with our debt reduction plan, will generate significant free cash flow and reduce our leverage ratio” added Mr. Mills.

As of September 30, 2023, the Company had cash on hand of $8.4 million, an increase of $5.1 million from the position of $3.3 million as of the June 30, 2023. The Company raised net proceeds of approximately $5.4 million through a public offering of common stock on August 17, 2023, the bulk of which the Company intends to use for the repayment of debt. The Company has re-paid approximately $4.4 million in debt principal thus far in 2023 with long term debt now approximately $16.0 million as part of its stated strategy to reduce its debt and improve its leverage ratio.

The Company will provide balance of the year updated guidance on Adjusted EBITDA and Backlog, as well as issue new guidance for Revenue and Adjusted EBITDA for 2024, on its earnings conference call for the three and nine months ended September 30, 2023. The call is scheduled for Friday, November 10, 2023, at 9:00 am Eastern Time, which will include prepared remarks and materials from management followed by a live Q&A. The call will be hosted by Rick Mills, Chief Executive Officer, and Will Logan, Chief Financial Officer.

Prior to the call, participants should register at https://bit.ly/CRIearnings2023Q3. Once registered, participants will receive the dial-in info and a unique PIN to join the call and participate in the live event.  An archived edition of the earnings conference call will also be posted on our website later that same day and will remain available for one year.

About Creative Realities, Inc.

Creative Realities helps clients use place-based digital media to achieve business objectives such as increased revenue, enhanced customer experiences, and improved productivity. The Company designs, develops and deploys digital signage experiences for enterprise-level networks, and is actively providing recurring SaaS and support services across diverse vertical markets, including but not limited to retail, automotive, digital-out-of-home (DOOH) advertising networks, convenience stores, foodservice/QSR, gaming, theater, and stadium venues.

With its recent acquisition of Reflect Systems, Inc. (“Reflect”), a leading provider of digital signage software platforms, the Company is poised to extend its product and service offering and accelerate growth in SaaS revenue. While Reflect provided a broad range of digital signage solutions, Reflect’s flagship products are the market-leading ReflectView digital signage platform and Reflect AdLogic ad management platform. ReflectView is the industry’s most comprehensive, scalable, enterprise-grade digital signage platform, powering enterprise customer networks. Meanwhile, Reflect AdLogic has become the benchmark for digital signage powered ad networks, delivering nearly 50 million ads daily. The acquisition of Reflect also brought to the Company a media sales division with the expertise and relationships to help any digital signage venue owner develop and execute a monetization plan for their network.

Cautionary Note on Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and includes, among other things, discussions of our business strategies, product releases, future operations and capital resources. Words such as "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance, conditions or results. They are based on the opinions, estimates and beliefs of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors, many of which are outside of our control, that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Some of these risks are discussed in the “Risk Factors” section contained in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2022 and in our Quarterly Report on Form 10-Q for the period ended June 30, 2023, and the Company’s subsequent filings with the U.S. Securities and Exchange Commission. Important factors, among others, that may affect actual results or outcomes include: our strategy for customer retention, growth, product development, market position, financial results and reserves, our ability to execute on our business plan, our ability to retain key personnel, our ability to remain listed on the Nasdaq Capital Market, our ability to realize the revenues included in our future guidance and backlog reports, our ability to satisfy our upcoming debt obligations and other liabilities, the ability of the Company to continue as a going concern, potential litigation, supply chain shortages, and general economic and market conditions impacting demand for our products and services. Readers should not place undue reliance upon any forward-looking statements. We assume no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Media Inquiries
Christina Davies
cdavies@ideagrove.com

Investor Relations
ir@cri.com
https://investors.cri.com/


Primary Logo

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Sunnyvale.com & California Media Partners, LLC. All rights reserved.