Home Equities Score Here is why RealNetworks Inc (RNWK) stock sink on Monday

Here is why RealNetworks Inc (RNWK) stock sink on Monday

RealNetworks Inc (RNWK) stock struggled on Monday, April 26, 2021. RNWK stock lost 1.45% in the normal trading session on Monday and closed at $3.41 per share. it further declined in the after-hours and shed 15.25% to close at $2.89 per share.

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RNWK shares have soared 326.25% over the last 12 months. Over the past three months, the stock has gained 34.25%, while over the past six months, it has added 114.47%.

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Let’s see what’s going on with RNWK.

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Commencing public offering of common stock

On April 26, 2021, RealNetworks, Inc. commenced a proposed underwritten public offering of its common stock.

underwriters will get a 30-day option to purchase up to an additional 15% of the shares of common stock. The net proceeds will be used for working capital and general corporate purposes.

SIBR contract awarded to SAFR

On April 26, 2021, the United State air force (USAF) awarded a third Small Business Innovation Research (SBIR) contract to SAFR from RealNetworks. This contract enables SAFR to advance its computer vision platform to support perimeter protection and domestic search and rescue missions.

SAFR is  the world’s foremost facial recognition solution for live video, offering accurate, fast, unbiased face recognition and additional computer vision features

SAFR integration with Geutebrück G-Core VMS

On April 12, 2021, SAFR from RealNetworks, integrated its SAFR facial recognition system for live video with the Geutebrück G-Core VMS (Video Management System).

SAFR for Geutebrück is an AI layer that runs on top of the G-Core VMS which provides advanced video analytics that saves time and increases the efficiency of surveillance operations.

New SAFR version 3.4 launched

On April 06, 2021, SAFR from RealNetworks, Inc. released a new version of SAFR.

SAFR version 3.4enhanced security for face biometric authentication solutions by introducing new passive liveness detection and anti-spoofing features, for both masked and unmasked faces. 

Financial results

On February 10, 2021, RealNetworks reported its financial results* for the fourth quarter and full-year ended December 31, 2020.

Q4 2020 Financial Highlights

  • Revenue was $17.6 million in Q4 2020compared to $17.3 million in the prior-year period.
  • Q4 2020 gross profit margin was 77%, compared to 76% in Q4 2019.
  • In Q4 2020, RealNetworks net income was $6.1 million, or $0.16 per diluted share, compared to a net loss of $4.5 million, or $0.12 per diluted share in Q4 2019.
  • The company suffered an Adjusted EBITDA loss of $0.9 million in the reported quarter compared to a loss of $2.9 million in the prior-year period.

FY-2020 Financial Highlights

  • Revenue was $68.1 million for FY 2020 compared to $65.8 million in 2019.
  • FY 2020 gross profit margin was 76%, compared to 74% in FY 2019.
  • RealNetworks suffered a net loss of 4.8 million, or $0.13 per diluted share in FY 2020 compared to a net loss of $15.1 million, or $0.40 per diluted share in 2019.
  • Adjusted EBITDA was a loss of $8.6million in FY 2020 compared to a loss of $19.9 million in 2019.
  • RealNetworks had $23.9 million in unrestricted cash and cash equivalents on December 31, 2020, compared to $13.2 million on September 30, 2020, and $8.5 million on December 31, 2019.

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Conclusion

The only recent news is commencing of common stock which could be the reason behind its loss on Monday. We can’t say how RNWK stock will perform in the coming days.

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