Oblong Announces Second Quarter 2020 Financial Results

LOS ANGELES–(BUSINESS WIRE)–Oblong, Inc. (NYSE American: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today announced financial results for the three months ended June 30, 2020.

Financial Highlights

  • Revenue of $2.8 million for the second quarter of 2020, compared to $2.4 million for the second quarter of 2019.
  • Gross profit margin of 40% for the second quarter of 2020, compared to 33% for the second quarter of 2019.
  • Net loss of $3.4 million for the second quarter of 2020, compared to a net loss of $0.9 million for the second quarter of 2019.
  • Adjusted EBITDA (“AEBITDA”) loss of $2.0 million for the second quarter of 2020, compared to an AEBITDA loss of $0.3 million for the second quarter of 2019. AEBITDA loss is a non-GAAP financial measure. See “Non-GAAP Financial Information” below for additional information regarding this non-GAAP financial measure, and “GAAP to Non-GAAP Reconciliation” later in this release for a reconciliation of this non-GAAP financial measure to net loss.
  • Cash balance of $4.1 million as of June 30, 2020. […]

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