iSign Reports Second Quarter 2020 Results

Rhea-AI Summary

iSign Solutions Inc. (ISGN) reported steady second-quarter results for 2020, maintaining total revenue at $227,000, equal to the previous year's performance. Operating expenses declined by 7% to $388,000, mainly due to reduced admin costs. Although the company incurred a net loss of $181,000, this represented a 27% decrease from last year. The CEO noted increased interest in their solutions, anticipating growth trends post-summer. The company's financial data will be further detailed in their upcoming 10-Q filing.

Positive

• Total revenue of $227,000 remained stable year-over-year.
• Operating expenses decreased by 7%, indicating cost management.
• Net loss reduced by 27%, reflecting improved operational efficiency.

Negative

• None.

SAN JOSE, CA / ACCESSWIRE / August 14, 2020 / 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 $227,000 for the quarter ended June 30, 2020, an amount equal to total revenue of $227,000 for the prior year.

"Second quarter operating performance remained largely steady compared to the same period in 2019," said Philip Sassower, co-chairman and chief executive officer for iSIGN. "Transaction volume rebounded as Europe started to reopen. Verticals that had dropped in the prior quarter resumed earlier levels, while others maintained the higher levels reached during the pandemic. Overall, there has been an increased interest in our solutions, resulting from businesses being forced to work remotely during the pandemic, and we expect positive growth trends to resume after the summer holiday season has passed."

For the quarter ended June 30, 2020, operating expenses were $388,000, a decrease of $28,000, or 7%, compared to operating expenses of $416,000 in the prior year. This decrease primarily was due to lower general and administrative expenses, resulting from lower stock option expense and the timing of certain accounting expenses in the prior year, offset by the expense related to a warrant issued to a consultant.

For the quarter ended June 30, 2020, the net loss was $181,000, a decrease of $67,000, or 27%, compared to a net loss of $248,000 in the prior year. This decrease primarily was due to a $28,000 decrease in loss from operations and a $37,000 increase in other income.

Additional financial information regarding iSIGN's operating results for the quarter ended June 30, 2020, 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.

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https://www.accesswire.com/601641/iSign-Reports-Second-Quarter-2020-Results

FAQ

What were iSign's total revenues for Q2 2020?

iSign's total revenues for Q2 2020 were $227,000.

How much did iSign reduce its operating expenses in Q2 2020?

iSign reduced its operating expenses by 7%, totaling $388,000.

What was the net loss for iSign in the second quarter of 2020?

iSign reported a net loss of $181,000 for the second quarter of 2020.

What is the expected growth trend for iSign following Q2 2020?

iSign expects positive growth trends to resume after the summer holiday season.

When will iSign provide more detailed financial information?

iSign will provide more detailed financial information in their upcoming Quarterly Report on Form 10-Q.