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 InquiriesChristina
Daviescdavies@ideagrove.com
Investor
Relationsir@cri.comhttps://investors.cri.com/
Creative Realities (NASDAQ:CREXW)
Graphique Historique de l'Action
De Août 2024 à Sept 2024
Creative Realities (NASDAQ:CREXW)
Graphique Historique de l'Action
De Sept 2023 à Sept 2024