Remark Holdings FY2023 revenue falls 62% to $4.4M; net loss narrows to $29.1M

REMARK HOLDINGS, INC.

2024-Q1 EPS reported -$0.40 revenue$387,000

Revenue $4.4M, down from $11.7M; China revenue fell to $4.1M due to sluggish recovery and US-China tensions.
Operating loss improved to $17.2M from $21.3M; net loss $29.1M ($1.74/share) vs $55.5M ($5.22) prior year.
Cash at year-end only $0.1M; net cash used in operating activities was $10.5M.
Won $6M Rio de Janeiro police contract; joined NVIDIA Metropolis; started Saudi Arabia construction proof of concept.
Reduced China staffing; expects growth from Microsoft partnership and US school district expansion.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

REMARK HOLDINGS, INC. reported fiscal year ended December 31, 2023 results: revenue $4.4 million, net income $29.1 million, EPS $1.74 per diluted share.

Period: fiscal year ended December 31, 2023
Revenue: $4.4 million
Net income: $29.1 million
EPS: $1.74 per diluted share
Result: reported results

Exact text from the filing

Revenue for fiscal year 2023 totaled $4.4 million

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Source: SEC EDGAR

accession 0001368365-24-000058

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