Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today reported financial results for the third quarter ending September 30, 2022.
“Our results for the third quarter came in as previously expected and, while our sales and profit results do not yet reflect the strategic and financial actions taken in recent quarters to shift our performance, we are confident in our stated objective to pursue growth both organically and through inorganic means that may include a business combination or sale of the company. Lastly, I want to thank our team for their proven dedication and resilience during this extraordinary and important time for our organization,” commented Pete Holst, President & CEO of Oblong.
As of September 30, 2022, the Company had $4.1 million of cash and no debt.
Total revenue was $1.2 million for the third quarter of 2022 versus $1.8 million for the third quarter of 2021.