iSIGN Reports First Quarter 2022 Results

Rhea-AI Summary

iSign Solutions Inc. (ISGN) reported a total revenue of $255,000 for Q1 2022, down 2% from $259,000 in Q1 2021. This decline was attributed to a stronger Euro impacting revenue despite a rise in transaction volume. Operating expenses increased by 7% to $395,000, leading to a net loss of $231,000, which is a 22% rise from the previous year. The company anticipates growth in the second half of 2022 with the implementation of a qualified electronic signature project.

Positive

• Transaction volume showed an upward trend in 2022.
• Expectation of revenue acceleration in the second half of the year due to a new project.

Negative

• Revenue decreased by $4,000, or 2%, year-over-year.
• Operating expenses rose by 7%, leading to a larger net loss of $231,000, up 22% from the previous year.

SAN JOSE, CA / ACCESSWIRE / May 16, 2022 / 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 $255,000 for the quarter ended March 31, 2022, a decrease of $4,000, or 2%, compared to total revenue of $259,000 for the prior year.

"Our transaction volume continued its upward trend in 2022 but revenue was negatively impacted by a stronger Euro," said Philip Sassower, co-chairman and chief executive officer for iSIGN. "The number of transactions has continued to increase in the first few months of 2022, and we expect to see further acceleration in the second half of the year once the previously announced qualified electronic signature project is paired with virtual security certificate capabilities."

For the quarter ended March 31, 2022, operating expenses were $395,000, an increase of $25,000, or 7%, compared to operating expenses of $370,000 in the prior year. This increase primarily was due to higher professional service expenses.

For the quarter ended March 31, 2022, the net loss was $231,000, an increase of $41,000, or 22%, compared to a net loss of $190,000 in the prior year. This increase primarily was due to a $29,000 increase in loss from operations and a $12,000 increase in interest expense.

Additional financial information regarding iSIGN's operating results for the quarter ended March 31, 2022, 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
Philip Sassower
Chief Executive Officer
+1.917.913.8000
psassower@sgphoenix.com

SOURCE: iSign Solutions Inc.

View source version on accesswire.com:
https://www.accesswire.com/701186/iSIGN-Reports-First-Quarter-2022-Results

FAQ

What were iSign Solutions' total revenues for Q1 2022?

iSign Solutions reported total revenues of $255,000 for Q1 2022.

How did the revenue for Q1 2022 compare to Q1 2021 for ISGN?

Revenue for Q1 2022 decreased by $4,000 or 2% compared to Q1 2021.

What impact did the Euro have on ISGN's revenues?

A stronger Euro negatively impacted iSign Solutions' revenue.

What was the net loss for iSign Solutions in Q1 2022?

The net loss for iSign Solutions in Q1 2022 was $231,000, an increase of 22% from the prior year.

What are the expectations for the second half of 2022 for ISGN?

iSign Solutions expects revenue acceleration in the second half of 2022 with the launch of a new project.