iSign Reports Third Quarter 2021 Results

Rhea-AI Summary

iSign Solutions Inc. (ISGN) reported a 17% increase in total revenue for Q3 2021, totaling $282,000, compared to $242,000 in Q3 2020. The company achieved an operational net loss of only $2,000, significantly down from $30,000 the previous year. Operating expenses decreased by 42% to $324,000, mainly due to reduced stock-based compensation. iSIGN anticipates growth in transaction volume following a partnership in Europe for processing qualified electronic signatures. Further financial details will be available in the upcoming 10-Q report.

Positive

• 17% revenue increase to $282,000 in Q3 2021.
• Net loss reduced to $2,000 from $30,000 year-over-year.
• 42% decrease in operating expenses due to lower stock-based compensation.
• Expectations of increased transaction volume from a new European partnership.

Negative

• None.

SAN JOSE, CA / ACCESSWIRE / November 15, 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 $282,000 for the quarter ended September 30, 2021, an increase of $40,000, or 17%, compared to total revenue of $242,000 for the prior year.

"Our revenue continued its upward trend in Q3 despite the end-of-summer seasonal slow-down," said Philip Sassower, co-chairman and chief executive officer for iSIGN. "The relatively small increase in sales together with our careful expense management allowed us to approach operational break-even for the quarter. With the recently announced ability for our European partner to process qualified electronic signatures and the significant impact this is expected to have on growing our transaction volume, we believe that iSIGN is on the cusp of a sustainable turnaround in our business."

For the quarter ended September 30, 2021, operating expenses were $324,000, a decrease of $238,000, or 42%, compared to operating expenses of $562,000 in the prior year. This decrease primarily was due to lower stock-based compensation in the current quarter.

For the quarter ended September 30, 2021, the net loss was $2,000, a decrease of $28,000, or 93%, compared to a net loss of $30,000 in the prior year. This decrease primarily was due to a $278,000 decrease in loss from operations, offset by a $248,000 decrease in other income.

Additional financial information regarding iSIGN's operating results for the quarter ended September 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.

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https://www.accesswire.com/672635/iSign-Reports-Third-Quarter-2021-Results

FAQ

What was iSign Solutions' revenue in Q3 2021?

iSign Solutions reported revenue of $282,000 for Q3 2021.

How much did iSign's net loss decrease in Q3 2021?

iSign's net loss decreased by $28,000 to $2,000 in Q3 2021.

What were iSign's operating expenses for Q3 2021?

The operating expenses for iSign in Q3 2021 were $324,000.

What is the expected impact of iSign's partnership in Europe?

iSign expects the partnership to significantly increase transaction volume.