earnings
confidence high
sentiment negative
materiality 0.75
Oblong Q2 revenue down 35% to $1.3M; net loss of $9.0M includes $6.4M impairment
TaoWeave, Inc.
2022-Q2 EPS
reported -$0.44
vs consensus -$61.20
▲ beat
(+99.3%)
- Revenue $1.3M vs $2.0M in Q2 2021; net loss $9.0M vs $2.2M loss a year ago.
- Recorded $6.4M non-cash impairment on goodwill and other assets during the quarter.
- Cash $5.1M with no debt; adjusted EBITDA loss of $1.5M vs $1.6M prior year.
- CEO states Company exploring strategic alternatives including potential sale or merger.