Welcome to our dedicated page for CREATIVE REALITIES news (Ticker: CREX), a resource for investors and traders seeking the latest updates and insights on CREATIVE REALITIES stock.
Creative Realities, Inc. (NASDAQ: CREX) is a creative technology company that specializes in designing, developing, and deploying marketing technology experiences. With a focus on digital marketing technology and solutions, the company transforms the consumer and shopper journey into intelligent, responsive, and immersive experiences.
Creative Realities operates in one reportable segment: marketing technology solutions. It caters to global retail companies, luxury brands, advertising networks, outdoor clients, enterprises, and other organizations. The company offers a suite of solutions, including digital merchandising systems, omnichannel customer engagement systems, interactive digital shopping assistants, advisors and kiosks, and high-end audio-visual networks.
In the realm of marketing technologies, Creative Realities provides services in mobile, social media, point-of-sale transactions, beaconing, and web-based media. It has developed thousands of digital solutions that inspire and enhance customer experiences. The company's flagship products, ClarityHub™, ReflectView™, and AdLogic™, are designed specifically for the food service, retail, and media network segments, providing robust, scalable, and reliable cloud-based solutions.
Creative Realities has reported record revenue, gross profit, and adjusted EBITDA for the fiscal year ended December 31, 2023, showcasing strong financial growth. The company's recent initiatives include deployment services to EMEA integrators in North America, aiming to capitalize on key verticals such as Retail, Convenience Stores, and Food Service/Restaurant Segments.
The company is also well-positioned as a go-to resource for large-scale deployments in North America, offering project management, procurement, installation services, and ongoing support, including content creation. Creative Realities was recognized as one of the fastest-growing digital signage software platforms in 2023 by Invidis Consulting, with 275,000 active licenses and a growth rate surpassing the market average.
With a mission to use omnichannel technologies to inspire better customer experiences, Creative Realities continues to innovate and expand its offerings across diverse vertical markets. The company remains committed to providing enterprise-level networks with recurring SaaS and support services, ensuring effective and engaging digital marketing solutions.
Creative Realities, Inc. (NASDAQ: CREX, CREXW) announced a significant new agreement to deploy infrastructure solutions for up to 5,000 digital media assets for Starlite Media at outdoor shopping centers across the U.S. This project follows Starlite Media's existing network of over 6,000 media assets in top U.S. markets. The strategic partnership, valued at around $2 million for the initial deployment, is expected to generate an additional backlog of approximately $50 million. CEO Rick Mills emphasized the potential of on-premise digital media and the company's capability to serve large enterprise customers. The announcement follows a trend of strategic growth and increased revenue opportunities in the digital signage sector, particularly in retail and digital-out-of-home advertising.
Creative Realities, Inc. (NASDAQ: CREX, CREXW) has confirmed its compliance with the Nasdaq Minimum Bid Price Requirement after receiving a notification from Nasdaq stating that the company's closing bid price has been at least $1.00 per share for the last 10 consecutive business days, from March 27 to April 10, 2023. Previously, in October 2022, the Company was notified that it had fallen below this requirement. The recent announcement indicates that the matter is now resolved, allowing the Company to focus on its business operations without concerns about potential delisting.
Creative Realities specializes in digital signage and media solutions aimed at enhancing customer experiences and improving productivity across various sectors, including retail and foodservice.
Creative Realities, Inc. (CREX, CREXW) announced a significant contract to deploy a digital-out-of-home (DOOH) advertising network across 1,000 locations in the U.S., valued at up to $46 million. This project is supported by the customer’s private equity funding over an 18-month installation period. The contract positions CRI for substantial organic growth and contributes to a revised revenue guidance of $60 million for 2023. The company’s backlog now exceeds $110 million following this agreement. CRI continues to enhance its market position, showcasing technical expertise and enterprise-scale capabilities in digital signage and media solutions.
Creative Realities (NASDAQ: CREX, CREXW) announced record Q4 2022 revenue of $10.5 million, a 94% increase year-over-year, contributing to a FY2022 revenue of $43.3 million, up 41%. The company achieved an Adjusted EBITDA of $3.8 million for the year, a remarkable 215% jump from 2021. Additionally, annual recurring revenue reached $14.8 million. For 2023, the revenue guidance increased to exceed $60 million, with a backlog revenue projected up to $110 million. The company underlines its robust growth from client acquisitions and strategic initiatives.
Creative Realities, Inc. (NASDAQ: CREX, CREXW) announced significant updates for shareholders ahead of its earnings call on March 30, 2023. The Company's Special Committee has rejected an acquisition offer from Pegasus Capital Advisors, deeming it undervalued. Additionally, CRI confirmed that it exceeded its revenue target of $43 million for 2022 and plans to raise its revenue guidance for 2023. The upcoming earnings call will also address the success of CRI's digital drive-thru product and its growth strategy following the acquisition of Reflect Systems, extending its SaaS offerings. The company emphasizes ongoing value creation for shareholders.
Creative Realities, Inc. (NASDAQ: CREX, CREXW) announced a one-for-three reverse stock split effective March 27, 2023, to comply with Nasdaq's minimum bid price requirement. Every three shares will be combined into one, reducing authorized shares from 200 million to 66.67 million. This split aims to help maintain the company's Nasdaq listing and will not change shareholders' equity percentages, aside from fractional shares being rounded up. Share certificates will be exchanged through Computershare, the transfer agent. The company provides digital signage solutions and has expanded its offerings following the acquisition of Reflect Systems, Inc., focusing on SaaS revenue growth.
Creative Realities, Inc. (NASDAQ: CREX, CREXW) will announce its financial results for the year ending December 31, 2022 on March 30, 2023, before market opening. A conference call is scheduled for the same day at 9:00 am ET featuring CEO Rick Mills and CFO Will Logan. Participants must register via the provided link to join the webcast. The company recently acquired Reflect Systems, Inc., enhancing its digital signage solutions and SaaS offerings, positioning itself for accelerated growth. The acquisition includes market-leading products like the ReflectView platform, which serves enterprise customers.
Creative Realities, Inc. (NASDAQ: CREX, CREXW) has launched the AdLogic Inventory Insights tool, enhancing its Reflect AdLogic Platform for media networks. This tool provides unprecedented inventory visibility, enabling sales teams to forecast sales more accurately and optimize profit margins by reducing waste. Key features include real-time reporting of advertising slots and data on availability. The tool is designed for diverse industries, including retail and healthcare, offering a competitive edge in place-based advertising. Creative Realities continues its commitment to innovation in digital media management.
Creative Realities, Inc. (NASDAQ: CREX, CREXW) announced an amendment to its acquisition agreement with Reflect Systems, extending the maturity date of a $2.5 million Secured Promissory Note from February 17, 2023, to February 17, 2024. This amendment eliminates the previous balloon payment requirement but increases the interest rate from 0.59% to 4.60%. Additionally, the cash merger consideration will be reduced by $0.2 million, contingent upon the collection of certain receivables. An escrow agreement was also amended, allowing for the release of $250,000 in escrowed funds. The changes aim to provide financial flexibility and improve liquidity for the Company.
Creative Realities, Inc. (NASDAQ: CREX, CREXW) will host the Digital Signage Federation’s first Meet ‘n Mingle event of 2023 on February 15 at the Derby Museum, Churchill Downs. The event, running from 3:30 PM to 8 PM, aims to connect key players in the digital signage industry. It will feature tabletop exhibits and panel discussions focused on digital signage's role in Quick Service Restaurants and Health Care. The event is free for qualified attendees, with tickets priced at $15 for members and $35 for the public. Registration includes food, beverage, and museum access. Visit the DSF website for registration details.
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