SAFR rollout boosts RealNetwork quarterly earnings
RealNetworks has reported Q3 2018 revenue of $17.6 million, and sequential improvements in gross margin and net loss, as it progresses with the roll-out of its SAFR facial recognition platform.
Quarterly revenue for RealNetworks was up from $15.7 million in the previous quarter, but down from $18.6 million in the same quarter a year ago. Gross margin from continuing operations was 76 percent, following a 71 percent gross margin in both the previous quarter and Q3 2017. RealNetworks net loss was $6 million, or $0.16 per share, compared to a loss of $6.9 million, or $0.18 per share in Q2 2018, and of $4.5 million, or $0.12 per share a year earlier.
“We are encouraged by our performance in the third quarter, which marked a return to sequential revenue growth,” said Rob Glaser, Chairman and Chief Executive Officer of RealNetworks. “We are very excited by the market’s initial reaction to our SAFR facial recognition platform, which we announced on July 17th. We have already signed partnerships with two major systems integrators: Net One Partners in Japan and Seventh in Brazil, with more on the way. We also launched Scener in the third quarter. Scener is a new product and business that was incubated inside of RealNetworks to redefine the over-the-top video experience by integrating synchronized commentary directly with OTT video.”
RealNetworks also published a guide to best practices for using facial recognition in schools, and added support for Windows to the SAFR platform during the quarter.