CREXW - Creative Realities Confirms Guidance for 2H2023; Announces Third Quarter 2023 Earnings Conference Call Information | Benzinga
- Projects record revenue of $27.3M - $29.3M for 2H/2023
- Projects record revenue of $46.4M - $48.4M for FY2023
- Reiterates forward 12-month revenue projection of $60 million- $80 million
LOUISVILLE, Ky., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Creative Realities, Inc. ("Creative Realities," "CRI," or the "Company") (NASDAQ:CREX, CREXW)), a leading provider of digital signage and media solutions, announces expectation to achieve specific analyst consensus guidance for the second half of 2023 and conference call to review results for the three and nine months ended September 30, 2023.
The Company projects record revenues between $11.3 and $12.3 million and between $16.0 and $17.0 million in the third and fourth quarters of 2023, respectively, in-line with analyst consensus estimates for the combined second half of 2023. This would result in record second half and fiscal year revenues of between $27.3 and $29.3 million and between $46.4 and $48.4 million, respectively.
Mr. Mills commented, "As we approach the end of the fiscal year, we have enhanced visibility and confidence into our anticipated full year results, which we anticipate will meet consensus analyst expectations for the second half and full year 2023 despite a previously disclosed shift in timing of revenue recognition on installation activities associated with the deployment of a large media network for an experiential leisure client. The revenue ramp associated with that particular contract shifted as installation activities began in October 2023 following resolution of a prior supply chain issue. The total revenue commitment of this engagement remains intact – it is just timing that has changed."
"We previously communicated that the Company projects forward 12-month revenues between third quarter 2023 and second quarter 2024 of between $60 million to $80 million. We reiterate this projection and continue to expect significant improvements in profit margins, the net effect of which, working with our debt reduction plan, will generate significant free cash flow and reduce our leverage ratio" added Mr. Mills.
As of September 30, 2023, the Company had cash on hand of $8.4 million, an increase of $5.1 million from the position of $3.3 million as of the June ...