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Realnetworks Inc (RNWK) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

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Realnetworks Inc

CIK: 1046327 Ticker: RNWK

Exhibit 99.1
REALNETWORKS ANNOUNCES FIRST QUARTER 2022 FINANCIAL RESULTS


SEATTLE — May 4, 2022
- RealNetworks, Inc. (Nasdaq: RNWK), an emerging leader in AI-based software and solutions, today announced its financial results for the first quarter ended March 31, 2022.

Revenue was $13.3 million, net loss of $(5.2) million and Adjusted EBITDA loss of $(3.8) million
Launched SAFR SCAN, the company's first integrated hardware-software product
Appointed Mike Cooley as President for KONTXT, Messaging, and Telecom

Management Commentary
“In March, we launched SAFR SCAN, a video door station for access control which is the company's first integrated hardware-software product in our 27-year history. SAFR SCAN delivers excellent performance, security, and reliability at less than half the price of previous competitive products. We're very encouraged by the early feedback we're hearing from industry partners and experts and we're excited to begin commercial shipments later this quarter,” said Rob Glaser, Founder, Chairman, and Chief Executive Officer of RealNetworks.

“A second major development I'm excited about is the appointment of Mike Cooley as President for KONTXT, Messaging, and Telecom. Mike has an outstanding track record of growing and building businesses in the carrier market and I believe he's the right person to drive growth and take KONTXT to the next level."

First Quarter 2022 Financial Results
Revenue was $13.3 million, compared to $13.4 million in the prior quarter and $15.9 million in the prior year period.
Net loss attributable to RealNetworks was $(5.2) million, or $(0.11) per diluted share, compared to a net loss of $(1.8) million, or $(0.04) per diluted share, in the prior quarter and a net loss of $(10.4) million, or $(0.27) per diluted share, in the prior year period.
Adjusted EBITDA was a loss of $(3.8) million compared to Adjusted EBITDA loss of $(3.7) million in the prior quarter and Adjusted EBITDA loss of $(3.0) million in the prior year period.
Strong balance sheet with unrestricted cash and cash equivalents of $21.8 million and no debt as of March 31, 2022.

Business Outlook
For the second quarter ending June 30, 2022, RealNetworks expects to achieve the following results:

Total revenue is expected to be in the range of $11.0 million to $12.5 million.
Adjusted EBITDA loss is expected to be in the range of $(6.0) million to $(4.5) million.

Conference Call and Webcast Information
RealNetworks will host a conference call today to review its results and discuss its performance at approximately 4:30 p.m. ET / 1:30 p.m. PT. Participants can access the conference call by dialing 1-888-221-3881 (United States) or 1-646-828-8193 (international). A telephonic replay of the call will also be available shortly after the completion of the call, until 11:59 p.m. ET on Wednesday, May 18, 2022, by dialing 1-844-512-2921 (United States) or 1-412-317-6671 (international) and entering the replay pin number: 7077659.

A live webcast will be available on RealNetworks’ Investor Relations site under the Events & Presentations section at http://investor.realnetworks.com and will be archived online upon completion of the conference call.



The following information was filed by Realnetworks Inc (RNWK) on Wednesday, May 4, 2022 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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Inside Realnetworks Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

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Realnetworks Inc provided additional information to their SEC Filing as exhibits

Ticker: RNWK
CIK: 1046327
Form Type: 10-Q Quarterly Report
Accession Number: 0001046327-22-000067
Submitted to the SEC: Fri Aug 12 2022 5:22:16 PM EST
Accepted by the SEC: Fri Aug 12 2022
Period: Thursday, June 30, 2022
Industry: Computer Programming Services

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