Oblong Q3 revenue $1.2M (-33% YoY); net loss $7.2M on $5.2M impairment

TaoWeave, Inc.

2022-Q3 EPS reported -$0.67 vs consensus -$61.20 ▲ beat (+98.9%)

Revenue $1.2M vs $1.8M in Q3 2021, down 33%.
Net loss $7.2M includes $5.2M non-cash impairment; prior year loss $0.7M.
Adjusted EBITDA loss improved to $1.4M from $1.7M.
Cash $4.1M with no debt as of Sept 30, 2022.
CEO cites possible business combination or sale as strategic option.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TaoWeave, Inc. reported third quarter ending September 30, 2022 results: revenue $1.2 million, net income Net loss of $7.2 million.

Period: third quarter ending September 30, 2022
Revenue: $1.2 million
Net income: Net loss of $7.2 million
Result: reported results

Exact text from the filing

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. • Net loss of $7.2 million for the third quarter of 2022, compared to a net loss of $0.7 million

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TaoWeave, Inc. filing history →

Source: SEC EDGAR

accession 0000746210-22-000048

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