Oblong Announces Financial Results for First Quarter 2021
– Pipeline of Opportunities Remain Robust Ahead of Office Reopenings
– Releases Initial Version of MezzanineTM Cloud Service to Select Customers
– Management to Conduct Conference Call Today at 4:30 p.m. ET
Los Angeles -- May 13, 2021 -- (BUSINESS WIRE) Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today reported financial results for the first quarter of 2021.
Q1 2021 and Recent Operational Highlights
• Introduced early-stage version of its MezzanineTM cloud collaboration product
• Expanded product development team to accelerate engineering and software development
• Invested in sales resources to expand distribution channels in anticipation of office reopenings
• Began trading on the Nasdaq Capital Market in February 2021 and simplified its capital structure by eliminating all outstanding preferred stock
“As each month passes, enterprises are getting closer to a broad return to office environments. We are confident that the ‘return to the office’ will be a substantial catalyst for the acceleration of our business,” commented Pete Holst, Chairman and CEO of Oblong. “There are thousands of conference rooms where Mezzanine’s unique collaboration technology can be deployed when office reopenings occur. Further, as a natural and critically important extension of the Mezzanine conference room hubs, are the tens of thousands of team members that will, upon commercial launch, be able to enjoy the benefits of Mezzanine through our cloud offering designed for team members working remotely. Our growing, vertically-diverse pipeline of opportunities that address both in-room and hybrid next generation collaboration for the hybrid worker supports this optimism. Transforming team collaboration remains a priority for companies in our target market and, while ‘return to office’ announcements are encouraging, the actual re-openings are progressing at a measured and cautious pace. While near-term visibility into market re-openings remains uncertain, we are confident that our long-term vision that Mezzanine and the Mezzanine Cloud solution being developed will be an essential part of how team members engage with data to inform critical business decisions.
The following information was filed by Glowpoint, Inc. (OBLG) on Thursday, May 13, 2021 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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Ticker: OBLG CIK: 746210 Form Type:10-Q Quarterly Report Accession Number: 0000746210-21-000034 Submitted to the SEC: Thu May 13 2021 4:06:33 PM EST Accepted by the SEC: Thu May 13 2021 Period: Wednesday, March 31, 2021 Industry: Telephone Communications No Radiotelephone