iSign Reports Second Quarter 2022 Results

Rhea-AI Summary

iSign Solutions Inc. (OTC Pink:ISGN) reported total revenue of $228,000 for Q2 2022, a 15% decrease from $268,000 in Q2 2021. The decline was attributed to a stronger US Dollar, despite higher transaction volumes. Operating expenses fell to $328,000, down 8% from $357,000 the previous year. However, the net loss increased to $189,000, a rise of 12% due to operational losses and increased interest expenses. The company anticipates improved performance in the second half of 2022 related to a delayed electronic signature project.

Positive

• Operating expenses decreased by $29,000 (8%) to $328,000.
• Higher transaction volume compared to earlier in 2022.

Negative

• Total revenue dropped by $40,000 (15%) year-over-year.
• Net loss increased by $20,000 (12%) to $189,000.

SAN JOSE, CA / ACCESSWIRE / August 15, 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 $228,000 for the quarter ended June 30, 2022, a decrease of $40,000, or 15%, compared to total revenue of $268,000 for the prior year.

"Our transaction volume continued at its higher 2022 levels, but revenue was negatively impacted by a stronger US Dollar," said Philip Sassower, co-chairman and chief executive officer for iSIGN. "We expect to see further acceleration in the second half of the year once the previously announced and somewhat delayed qualified electronic signature project is paired with virtual security certificate capabilities."

For the quarter ended June 30, 2022, operating expenses were $328,000, a decrease of $29,000, or 8%, compared to operating expenses of $357,000 in the prior year. This decrease primarily was due to lower professional service expenses.

For the quarter ended June 30, 2022, the net loss was $189,000, an increase of $20,000, or 12%, compared to a net loss of $169,000 in the prior year. This increase was due to a $11,000 increase in loss from operations and a $9,000 increase in interest expense.

Additional financial information regarding iSIGN's operating results for the quarter ended June 30, 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/712152/iSign-Reports-Second-Quarter-2022-Results

FAQ

What were iSign's Q2 2022 revenues?

iSign reported total revenues of $228,000 for Q2 2022.

How did the operating expenses change for iSign in Q2 2022?

Operating expenses decreased by 8%, totaling $328,000.

What was the net loss reported by iSign in Q2 2022?

The net loss for Q2 2022 was $189,000, an increase of 12% from the previous year.

What factors impacted iSign's revenue in Q2 2022?

Revenue was negatively impacted by a stronger US Dollar.

What are iSign's expectations for the second half of 2022?

iSign expects further revenue acceleration linked to a delayed electronic signature project.