RealNetworks Inc. (RNWK) shares plunged 6.12% in after-hours on Friday, December 31, 2021, and closed the weekly trading at $0.92. Even in the regular trading session of Friday, RNWK’s stock lost 2.00%. RNWK shares have fallen 37.18% over the last 12 months, and they have moved down 7.55% in the past week. Over the past three months, the stock has lost 39.88%, while over the past six months, it has declined 57.58%.
Let’s have a brief discussion about its latest news.
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RNWK introduced KONTXT
On December 14, 2021, RealNetworks® (RNWK), unveiled KONTXT® for Images to identify and stop scam images sent via text messages. This new service has now been deployed to two of the top three US mobile operators protecting A2P (Application to Person) and P2P (Person to Person) messaging channels.
There were some security gaps were discovered over the years by KONTXT security analysts in TelCo communication networks for messages sent to mobile devices via Multimedia Messaging Service protocol. When mobile subscribers send text messages that include images, they are sent over MMS instead of SMS (Short Message Service) which is a criminal problem, and spammers and fraudsters also use this route to send images that look like text messages to engage in phishing & smishing.
RNWK SAFR® at the Japanese construction sites
On November 30, 2021, SAFR® from RealNetworks, Inc. (RNWK), was selected as the facial recognition technology provider for a new biometric access control system in use at Japanese construction sites.
SAFR was developed by Nextware Corporation, Ltd., in conjunction with Kids-Way corporation, the new FACEma® access control, and health management system enable construction site workers to automatically register their attendance and departure while also checking body temperatures for fever symptoms.
RNWK latest financial results
On November 3, 2021, RealNetworks, Inc. (RNWK), released its financial results for the third quarter ended September 30, 2021.
Q3 2021 financial highlights
- RNWK revenue was $14.3 million in the third quarter of 2021 compared to $16.6 million in the third quarter of 2020.
- Total operating expenses were $17.67 million in Q3 2021 compared to $15.34 million in Q3 2020.
- It suffered a net loss of $7.7 million, or $0.16per diluted share in Q3 2021 compared to a net loss of $3.2 million, or $0.08 per diluted share in Q3 2020.
- In Q3 2021, adjusted EBITDA was negative $2.7 million compared to negative $1.9 million in Q3 2020.
- The company ended the third quarter with $29.0 million in unrestricted cash and cash equivalents compared to $29.9 million on June 30, 2021.
Well, there was no reason for its poor performance on Friday. we hope that it will commence Monday trading with positive energy.