iSign Reports Fiscal 2021 Results

Rhea-AI Summary

iSign Solutions (OTC Pink:ISGN) reported a 12% increase in total revenue for the year ended December 31, 2021, reaching $1,078,000 compared to $966,000 in 2020. Operating expenses decreased by 17% to $1,339,000, leading to a net loss reduction of 8% to $486,000. The company anticipates continued growth, especially in Europe, and plans to enhance its offerings with a qualified electronic signature project paired with virtual security capabilities. Financial details will be disclosed in the upcoming Form 10-K filing.

Positive

• Revenue increased by 12% year-over-year to $1,078,000.
• Operating expenses decreased by 17%, enhancing cost management.
• Net loss reduced by 8% compared to the previous year.

Negative

• Net loss remains significant at $486,000.
• Operating income is still negative despite improvement.

SAN JOSE, CA / ACCESSWIRE / March 31, 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 $1,078,000 for the year ended December 31, 2021, an increase of $112,000, or 12%, compared to total revenue of $966,000 for the prior year.

"Our revenue continued its upward trend in 2021 reflecting increased activity in Europe, both in transaction volume and engineering services," 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. We continue our careful expense management, which resulted in a dramatic decrease in our loss from operations. We remain optimistic about the company's prospects for continued performance improvements in the quarters and years to come."

For the year ended December 31, 2021, operating expenses were $1,339,000, a decrease of $280,000, or 17%, compared to operating expenses of $1,619,000 in the prior year. This decrease primarily was due to lower stock-based compensation.

For the year ended December 31, 2021, the net loss was $486,000, a decrease of $42,000, or 8%, compared to a net loss of $528,000 in the prior year. This decrease primarily was due to a $392,000 decrease in loss from operations, offset by a $310,000 decrease in other income and a $43,000 increase in interest expense.

Additional financial information regarding iSIGN's operating results for the year ended December 31, 2021, will be available in the Company's Quarterly Report on Form 10-K 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/695544/iSign-Reports-Fiscal-2021-Results

FAQ

What were iSign Solutions' revenue figures for 2021?

iSign Solutions reported total revenue of $1,078,000 for the year ended December 31, 2021.

How much did iSign Solutions decrease its operating expenses in 2021?

Operating expenses were reduced by 17% to $1,339,000 in 2021.

What was the net loss reported by iSign Solutions for 2021?

The net loss for iSign Solutions in 2021 was $486,000, down from $528,000 the previous year.

What is the outlook for iSign Solutions in 2022?

iSign Solutions anticipates further growth in transaction volumes and improved performance in 2022.

When will additional financial details for iSign Solutions be available?

Further financial information will be available in the Company’s Form 10-K filing with the SEC.