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EXHIBIT 99.1

Oblong Reports 16% Sequential Revenue Growth for the Third Quarter of 2020

Sales of Mezzanine Products Increase 202% Sequentially to $1.1 Million

Gross Margin Improves Sequentially from 40% to 51%

    
November 16, 2020 -- (BUSINESS WIRE) Oblong, Inc. (NYSE American: OBLG) ("Oblong" or the "Company"), the award-winning maker of multi-stream collaboration solutions, today announced financial results for the three and nine months ended September 30, 2020.

Financial Highlights
Revenue of $3.3 million for the third quarter of 2020, compared to $2.4 million for the third quarter of 2019 and compared sequentially to $2.8 million for the second quarter of 2020.
Gross profit margin of 51% for the third quarter of 2020, compared to 33% for the third quarter of 2019 and compared sequentially to 40% in the second quarter of 2020.
Net loss of $2.1 million for the third quarter of 2020, compared to a net loss of $0.6 million for the third quarter of 2019 and compared sequentially to a net loss of $3.4 million in the second quarter of 2020.
Adjusted EBITDA (“AEBITDA”) loss of $1.0 million for the third quarter of 2020, compared to an AEBITDA loss of $0.1 million for the third quarter of 2019 and compared sequentially to an AEBITDA loss of $2.0 million for the second quarter of 2020. AEBITDA loss is a non-GAAP financial measure. See “Non-GAAP Financial Information” below for additional information regarding this non-GAAP financial measure, and “GAAP to Non-GAAP Reconciliation” later in this release for a reconciliation of this non-GAAP financial measure to net loss.
Cash balance of $2.7 million as of September 30, 2020.
Subsequent to the end of the third quarter of 2020, in October 2020, the Company: (i) completed a private placement of common stock for gross proceeds of $3.0 million, and (ii) completed an agreement with Silicon Valley Bank ("SVB") satisfying all outstanding obligations under the Loan Agreement with SVB, totaling $5.6 million, in exchange for a one-time cash payment of $2.5 million.
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The following information was filed by Glowpoint, Inc. (OBLG) on Monday, November 16, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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