Oblong Announces Financial Results for Fourth Quarter and Full Year 2021

Oblong Schedules Second Quarter 2021 Conference Call for August 11, 2021

Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today reported financial results for the fourth quarter and full year ending December 31, 2021.

  • The Company’s total revenue increased 10% sequentially to $2.0 million for the fourth quarter of 2021 versus $1.8 million for the third quarter of 2021.
  • Revenue related to our Mezzanine™ collaboration suite of products increased 24% sequentially to $1.0 million for the fourth quarter of 2021 versus $0.8 million for the third quarter of 2021.
  • As of December 31, 2021, the Company had $9.0 million of cash and no debt.

“While the global pandemic has had a material effect on demand for our products over the last two years, it appears many of our longtime customers are now gradually re-opening their office environments and, in parallel, re-engaging in commercial discussions to upgrade their collaboration spaces. While Q4 revenue was driven largely by a full suite sale to one of our global clients, we believe their scale of deployment, and use case in combination with AR/VR systems, will become increasingly relevant in the future. Although the ongoing global effects of COVID-19 remain uncertain, workplaces are opening and being re-designed with next generation collaboration technologies and hybrid work at the forefront. It’s been a challenging few years but, we believe there is now a light at the end of this long tunnel as we all adapt to a new way of working,” commented Pete Holst, President and CEO of Oblong.

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