iSign Reports Second Quarter 2021 Results

Rhea-AI Summary

iSign Solutions (OTC PINK:ISGN) reported a revenue increase of 18% to $268,000 for Q2 2021, compared to $227,000 in Q2 2020. This growth was attributed to higher engineering services and transaction volume, particularly in Europe, where revenue doubled year-over-year. Operating expenses decreased by 8% to $357,000, while net loss reduced by 7% to $169,000. The company aims to manage expenses to limit dilution until reaching cash flow breakeven. Further financial details will be disclosed in the upcoming Form 10-Q filing.

Positive

• Revenue increased 18% to $268,000 in Q2 2021.
• Q2 revenue in Europe doubled compared to last year.
• Operating expenses decreased by 8% to $357,000.

Negative

• Net loss of $169,000 still indicates ongoing financial challenges.
• Decrease in other income by $51,000 may indicate revenue instability.

SAN JOSE, CA / ACCESSWIRE / August 16, 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 $268,000 for the quarter ended June 30, 2021, an increase of $41,000, or 18%, compared to total revenue of $227,000 for the prior year.

"Our higher revenue compared to last year resulted from an increase in engineering services and in transaction volume," said Philip Sassower, co-chairman and chief executive officer for iSIGN. "Revenue in Europe for the second quarter doubled compared to the same quarter last year and we believe this trend will continue over the mid-term. We continue to manage our expenses carefully in an effort to limit dilution until the company reaches cash flow break-even."

For the quarter ended June 30, 2021, operating expenses were $357,000, a decrease of $31,000, or 8%, compared to operating expenses of $388,000 in the prior year. This decrease primarily was due to lower professional services costs and savings in certain health benefits.

For the quarter ended June 30, 2021, the net loss was $169,000, a decrease of $12,000, or 7%, compared to a net loss of $181,000 in the prior year. This decrease primarily was due to a $72,000 decrease in loss from operations, offset by a $51,000 decrease in other income and a $10,000 increase in interest expense.

Additional financial information regarding iSIGN's operating results for the quarter ended June 30, 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
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/659985/iSign-Reports-Second-Quarter-2021-Results

FAQ

What were iSign's total revenues for Q2 2021?

iSign's total revenues for Q2 2021 were $268,000.

How much did iSign reduce its operating expenses in Q2 2021?

iSign reduced its operating expenses by 8% to $357,000 in Q2 2021.

What is the net loss reported by iSign for Q2 2021?

iSign reported a net loss of $169,000 for Q2 2021.

What factors contributed to iSign's revenue growth in Q2 2021?

Revenue growth was driven by increased engineering services and transaction volume.

How did iSign's revenue in Europe perform in Q2 2021?

iSign's revenue in Europe doubled compared to the same quarter last year.