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RealNetworks (Nasdaq: RNWK) will announce its Q1 2021 financial results on May 12, 2021, after market closure. A conference call is scheduled for the same day at 1:30 PM PT (4:30 PM ET), accessible via specific dial-in numbers. A live webcast is available on the company's Investor Relations site and will be archived post-call. RealNetworks specializes in digital media and AI products, including SAFR for live video and Kontxt for NLP analysis. For further inquiries, investors can contact Kimberly Orlando at Addo Investor Relations.
RealNetworks, Inc. (NASDAQ: RNWK) has priced its public offering of 8,250,000 shares at $2.70 per share, resulting in gross proceeds of $22,275,000. A 30-day option for underwriters to purchase an additional 1,237,500 shares is included. The offering aims to generate funds for working capital and general corporate purposes, and is expected to close around April 29, 2021. Lake Street Capital Markets is acting as the sole book-running manager for this offering.
RealNetworks (NASDAQ: RNWK) has initiated a public offering of its common stock as per its shelf registration statement. The company plans to offer additional shares, granting underwriters a 30-day option to purchase up to 15% more of the shares to cover over-allotments. Proceeds will be allocated for working capital and corporate purposes. The offering is subject to market conditions, and completion timelines are uncertain. Lake Street Capital Markets serves as the sole book-running manager. A shelf registration statement was filed with the SEC on April 15, 2021.
SAFR from RealNetworks (RNWK) announced its third SBIR contract to enhance AI-powered analytics for unmanned ground vehicles (UGVs). This contract enables SAFR to improve perimeter protection and emergency medical services (EMS) search and rescue capabilities. The technology allows UGVs to perform patrol duties, recognize unauthorized persons, and send real-time alerts. SAFR’s advanced capabilities offer significant advantages for military and civilian applications, particularly in high-risk scenarios like earthquake rescues, enhancing safety for responders.
RealNetworks (NASDAQ: RNWK) announced the integration of its SAFR facial recognition system with Geutebrück G-Core VMS, enhancing video surveillance capabilities. This integration allows for real-time identification of individuals with a 99.87% accuracy rate, even recognizing masked faces with 98.85% accuracy. The system enables easier enrollment and notification processes for security personnel, thus improving operational efficiency. The collaboration aims to streamline monitoring and response to potential threats within surveillance operations.
RealNetworks has launched the new version 3.4 of its SAFR facial recognition solution, enhancing security features with passive liveness detection and SMS watchlist alarms. This version offers a 95.27% true positive rate for detecting live individuals and supports various applications, including touchless access control. The new SMS feature alerts security personnel about potential threats based on specified conditions, improving response capabilities. This update aims to lower the cost of biometric authentication while ensuring robust security measures.
On March 16, 2021, RealNetworks (Nasdaq: RNWK) approved an equity award for its new Chief Financial Officer, Christine Chambers, under the 2020 Inducement Equity Plan. The award includes an option to purchase 125,000 shares and 80,000 restricted stock units (RSUs), vesting over time. The equity plan targets new employees to encourage their acceptance of positions within the company, complying with NASDAQ's requirements. RealNetworks focuses on AI and machine learning in digital media, with products like SAFR and Kontxt aimed at enhancing security and multimedia analysis.
RealNetworks, Inc. (RNWK) reported a 3% increase in 2020 revenue to $68.1 million, largely driven by a 110% growth in free-to-play mobile Games and SAFR. The company posted a net loss of $(5.1) million, an improvement of $10.1 million from 2019. The successful sale of Napster for $26.6 million helped enhance cash reserves to $23.9 million. Fourth quarter revenue rose to $17.6 million, a 6% increase from the previous quarter. However, games revenue declined 10% from the prior quarter. There was no guidance provided for Q1 2021.
RealNetworks, Inc. (Nasdaq: RNWK) has appointed Christine Chambers as Senior Vice President, Chief Financial Officer, and Treasurer, effective March 1, 2021. Chambers returns to the company after serving as Vice President, Finance at Rosetta Stone. She succeeds Judd Lee, who will depart in March. Chairman and CEO Rob Glaser expressed confidence in Chambers' ability to enhance the finance team during a growth-focused period. Chambers holds an M.B.A. from the University of Washington and has a well-established history with RealNetworks.
RealNetworks, Inc. (Nasdaq: RNWK) will report its financial results for the fourth quarter and full year of 2020 on February 10, 2021, after market close. A conference call will take place at 1:30 p.m. PT / 4:30 p.m. ET, accessible via phone or webcast on the Investor Relations site. The earnings release is expected to shed light on the company's financial performance, driven by advancements in AI and digital media products. Live and archived access options will be available for investors.
