Vislink Q4 revenue $8.1M, net loss narrows to $2.4M; MilGov revenue up 75% in FY2023

Vislink Technologies, Inc.

2024-Q1 EPS reported -$0.39 vs consensus -$0.61 ▲ beat (+36.3%)

Q4 revenue $8.1M (up 9% YoY); net loss improved to $(2.4M) from $(5.5M) prior year.
FY2023 revenue $27.5M vs $28.1M; gross margin 51% (up from 46%); net loss $(9.1M) vs $(13.5M).
MilGov revenue grew 75% YoY; software & services exceeded 10% of total revenue; BMS assets acquired September 2023.
Cash and short-term investments $14.2M at Dec 31, 2023; management targets cash flow positive by 2025 and significant revenue growth in 2024.
AVDS orders: $2M from North America public safety; $1M from EMEA air force; backlog at highest post-pandemic level.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vislink Technologies, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $8.1 million, net income $(2.4) million, EPS $(0.99) per share.

Period: the fourth quarter ended December 31, 2023
Revenue: $8.1 million
Net income: $(2.4) million
EPS: $(0.99) per share
Result: reported results

Exact text from the filing

Fourth Quarter 2023 Financial Results ● Revenue increased to $8.1 million, compared to $7.4 million in the prior year period. ● Gross margin increased to 46%, up from 33% in the prior year period. The improvement in gross margin was due to the greater contribution of MilGov revenue and software and services to total revenue, partially offset by one-time manufacturing charges related to new products. ● Net loss attributable to common shareholders totaled $(2.4) million, or $(0.99) per share, an improvement compared to $(5.5) million, or $(2.36) per share, in the prior year period.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vislink Technologies, Inc. reported the full year ended December 31, 2023 results: revenue $27.5 million, net income $(9.1) million, EPS $(3.83) per share.

Period: the full year ended December 31, 2023
Revenue: $27.5 million
Net income: $(9.1) million
EPS: $(3.83) per share
Result: reported results

Exact text from the filing

Full Year 2023 Financial Results ● Revenue was $27.5 million, compared to $28.1 million in 2022. The change in revenue was a result of product line streamlining efforts, which started in 2022, and the discontinuation of lower-margin, sub-scale product lines. ● Gross margin increased to 51%, up from 46% in 2022. The increase was due to the greater contribution of software and services to total revenue. ● Net loss attributable to common shareholders totaled $(9.1) million, or $(3.83) per share, an improvement compared to $(13.5) million, or $(5.81) per share, in 2022.

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Source: SEC EDGAR

accession 0001493152-24-012199

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