iSign Reports First Quarter 2021 Results

Rhea-AI Summary

iSign Solutions (OTC PINK:ISGN) reported a 36% revenue increase to $259,000 for Q1 2021 compared to $190,000 in Q1 2020. The growth is attributed to maintenance renewals and increased transaction volume. Operating expenses fell by 20% to $370,000, while the net loss decreased by 44% to $190,000, reflecting improved operational efficiency. The company continues to explore new revenue opportunities in Europe and remains optimistic about future growth. More details will be available in the upcoming Quarterly Report on Form 10-Q.

Positive

• 36% increase in revenue to $259,000 YoY.
• Operating expenses decreased by 20% to $370,000.
• Net loss decreased by 44% to $190,000 YoY.
• Management expresses optimism about accelerating revenue growth.

Negative

• None.

SAN JOSE, CA / ACCESSWIRE / May 17, 2021 / iSign Solutions Inc. ("iSIGN") (OTC PINK:ISGN), a leading supplier of electronic signature and other software solutions enabling secure and cost-effective management of document-based digital transactions, today reported total revenue of $259,000 for the quarter ended March 31, 2021, an increase of $69,000, or 36%, compared to total revenue of $190,000 for the prior year.

"Our improving performance compared to last year is partially due to the timing of certain maintenance renewals and of certain expenses, and partially to a sustained increase in transaction volume," said Philip Sassower, co-chairman and chief executive officer for iSIGN. "We continue making progress in developing new revenue in Europe and remain cautiously optimistic about the company's outlook for accelerating revenue growth throughout 2021 and beyond."

For the quarter ended March 31, 2021, operating expenses were $370,000, a decrease of $90,000, or 20%, compared to operating expenses of $460,000 in the prior year. This decrease primarily was due to the timing and size of certain professional services costs, offset by an increase in commissions.

For the quarter ended March 31, 2021, the net loss was $190,000, a decrease of $149,000, or 44%, compared to a net loss of $339,000 in the prior year. This decrease primarily was due to a $159,000 decrease in loss from operations, offset by a $10,000 increase in interest expenses.

Additional financial information regarding iSIGN's operating results for the quarter ended March 31, 2021, will be available in the Company's Quarterly Report on Form 10-Q that will be filed with the Securities and Exchange Commission and available at www.sec.gov.

ABOUT iSIGN

iSIGN (formerly known as Communication Intelligence Corporation or CIC) is a leading provider of digital transaction management (DTM) software enabling fully digital (paperless) business processes. iSIGN's solutions encompass a wide array of functionality and services, including electronic signatures, simple-to-complex workflow management and various options for biometric authentication. These solutions are available across virtually all enterprise, desktop and mobile environments as a seamlessly integrated software platform for both ad-hoc and fully automated transactions. iSIGN's software platform can be deployed both on-premise and as a cloud-based service, with the ability to easily transition between deployment models. iSIGN is headquartered in Silicon Valley. For more information, please visit our website at www.isignnow.com. iSIGN's logo is a trademark of iSIGN.

FORWARD LOOKING STATEMENTS

Certain statements contained in this press release, including without limitation, statements containing the words "believes", "anticipates", "hopes", "intends", "expects", and other words of similar import, constitute "forward looking" statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the company's technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect customer purchases of the company's solutions; (3) the company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the company; and (4) general economic and business conditions.

Contact Information:

iSIGN
Andrea Goren
Chief Financial Officer
+1.646.763.8363
agoren@isignnow.com

SOURCE: iSign Solutions Inc.

View source version on accesswire.com:
https://www.accesswire.com/647656/iSign-Reports-First-Quarter-2021-Results

FAQ

What were the revenue figures for iSign Solutions (ISGN) in Q1 2021?

iSign Solutions reported revenue of $259,000 in Q1 2021, a 36% increase from $190,000 in Q1 2020.

How much did iSign Solutions' net loss decrease in Q1 2021?

The net loss decreased by 44%, from $339,000 in Q1 2020 to $190,000 in Q1 2021.

What contributed to the revenue increase at iSign Solutions in Q1 2021?

The revenue increase was attributed to the timing of maintenance renewals and a sustained increase in transaction volume.

What are the operating expenses for iSign Solutions in Q1 2021?

Operating expenses for Q1 2021 were $370,000, down 20% from $460,000 in the previous year.

What is the outlook for iSign Solutions (ISGN) after Q1 2021?

Management remains cautiously optimistic about accelerating revenue growth throughout 2021 and beyond.