FB pixel

RealNetworks reports continued growth from facial recognition in Q3 financial report

RealNetworks reports continued growth from facial recognition in Q3 financial report
 

Digital media software company RealNetworks has announced significant financial progress in the third quarter financial report, the company says in a press release.

RealNetworks had already announced great success for its SAFR biometric facial recognition software in its Q2 2019 report that saw revenues of $44.2 million. According to current figures, the third quarter revenue rose to $45.0 million from just $17.6 million during the same timeframe last year.

The SAFR live video artificial intelligence and biometric facial recognition platform was recently integrated with the Nvidia Metropolis Software Partner Program to improve technology deployment in smart city projects. In June, SAFR biometric facial recognition was rolled out in a museum in Europe on MOBOTIX cameras to provide live analytics.

Some other financial highlights include free-to-play casual mobile games such as Delicious World which led to a 30 percent year-over-year revenue increase, a 35 percent decrease in operating expenses compares to the same period in the previous year, and an adjusted EBITDA loss of $3.2 million compared to a loss of $6.3 million in the prior quarter and a loss of $3.3 million in the prior year period.

In May, RealNetworks reported Napster had been added to the parent company’s product portfolio that resulted in a positive net income of $1.5 million in that quarter. In August, RealNetworks and Napster entered a loan agreement for $10.0 million to use for working capital and business activities, out of which $6.1 million was available at the end of the third quarter.

“In the third quarter, we continued to make solid progress with two key growth initiatives: our SAFR facial and object recognition platform and free-to-play casual mobile games,” said Rob Glaser, Chairman and CEO of RealNetworks. “For SAFR, we entered into new verticals through partnerships with systems integrators and GPU market leader, NVIDIA. We also gained traction in our commercialization efforts through collaborations with leading Video Management Systems.”

“In Games, our free-to-play casual mobile games continued to perform well and scale up,” Glaser added. “This is particularly true with Delicious World, which is on track to become our most successful casual game ever in terms of revenue and engagement even though it’s only been in global release for six months. These successes, along with our ongoing commitment to carefully manage our costs, have resulted in a significant improvement on the bottom line.”

For the fourth quarter, the company is expecting revenue in the range of $40.0 million to $43.0 million, and an adjusted EBITDA loss in the range of $2.0 million to $5.0 million.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Biometrics deployments expand protection against fraud and lying about your age

Biometrics are protecting against false claims of all sorts in several of the most-read articles of the past week on…

 

UN says law enforcement should not use biometrics to surveil protestors

Law enforcement agencies should not use biometric technology to categorize, profile or remotely identify individuals during protests, the United Nations…

 

How to explain the EUDI Wallet? Industry and citizens discuss Europe’s digital ID

The European Digital Identity (EUDI) Wallet is well on its way towards becoming a reality. To explain the major impact…

 

Decentralize face authentication for control, stronger protection: Youverse

The implementation method of biometric face authentication has become increasingly important in recent years due to the limitations of traditional…

 

Researchers develop display screens with biometric sensor capabilities

Traditional display screens like those built into smartphones require extra sensors for touch control, ambient light, and fingerprint sensing. These…

 

Meta, porn industry and Kansas governor weigh in on age verification

As Europe mulls how to restrict access to certain content for minors, Meta offers its own solution. Meanwhile, U.S. states…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read From This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events