MARK - Remark slides 8% despite first-quarter rebound on top line

Remark Holdings (MARK) has fallen 8.1% after hours after missing on top and bottom lines in its first-quarter results. Revenues rose more than tenfold, however, to $4.4M from a year-ago $0.4M. Revenue from China jumped to $3.7M from $0.3M. And gross profit improved to $1.7M from the prior-year $0.4M. Overall gross profit margin was 37.5%. Operating loss widened slightly to $3.7M (from a year-ago loss of $3.5M) due to higher expenses, particularly from technology and development costs. And net loss more than doubled, to $5.5M from a year-ago loss of $2.4M. A year ago, the company recorded a $1.5M gain on a lease termination, and the increase in its stock price between the end of 202 and March 31 led to a $1.6M increase in liability tied to certain warrants. Cash and equivalents were $0.9M, flat with year-end 2020. Press release

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Remark slides 8% despite first-quarter rebound on top line