Latest news with #OBLG
Globe and Mail
5 days ago
- Business
- Globe and Mail
Oblong Profit Jumps 92 Percent
Key Points Net loss (GAAP) narrowed to $0.61 million from $0.98 million year-over-year in Q2 2025. Gross profit (GAAP) nearly doubled to 38.5% in Q2 2025, despite revenue remaining nearly flat compared to Q2 2024. Cash and equivalents totaled $10.8 million as of June 30, 2025. These 10 stocks could mint the next wave of millionaires › Oblong (NASDAQ:OBLG), a developer of collaboration technology, reported its second quarter 2025 earnings on August 14, 2025. The most significant news was a steady revenue figure compared to the same period last year, but a substantial improvement in key financial measures. Net loss (GAAP) narrowed to $0.61 million from $0.98 million year-over-year in Q2 2025, and Gross profit (GAAP) rose sharply to $228,000 from $120,000 year-over-year in Q2 2025. There are no analyst estimates or consensus forecasts for this period. Overall, despite flat revenue, the quarter marked a turning point as the company pivoted away from its traditional technology business toward a new strategy in digital assets and decentralized artificial intelligence. About Oblong: Business Model and Recent Focus Oblong is a technology company with a legacy in collaboration hardware and software. Its Mezzanine product line provides visual collaboration systems for meeting rooms and distributed teams. These solutions are designed to allow multiple participants to share and work on content together across different locations. In the past year, the company's primary focus has shifted dramatically. It is moving away from selling traditional technology products and is building a digital asset treasury centered on TAO tokens, which are part of the Bittensor decentralized artificial intelligence ecosystem. Key factors for its future success include its ability to generate income from digital assets, manage costs, and navigate the risk of relying on both a new strategy and a highly concentrated customer base. Q2 2025: Key Developments and Performance Drivers The quarter's financial story centered on expense reduction and a move toward digital asset investment. Net loss (GAAP) narrowed as operating costs—particularly in sales, marketing, and research and development—declined sharply year-over-year in Q2 2025. Research and development spending (GAAP) fell to $3,000 from $65,000 year-over-year in Q2 2025. Sales and marketing expenses (GAAP) dropped to $6,000 from $57,000 year-over-year in Q2 2025. General and administrative costs decreased to $902,000 from $1,016,000 year-over-year in Q2 2025, supporting a lower overall cost base and helping reduce operating loss. Gross profit (GAAP) nearly doubled year-over-year in Q2 2025. This increase in profitability was achieved even as revenue remained unchanged, with a net loss of $0.7 million for Q1 2025 (GAAP) compared to $1.1 million for Q1 2024, and revenue of $0.6 million in both periods. Revenue performance showed stagnation, highlighting continued headwinds for the legacy Mezzanine product family in a declining in-person collaboration technology market. The company remains exposed to a highly concentrated customer base; in 2024, a single customer accounted for 84.9% of all revenue. Oblong made a substantial investment in digital assets during the quarter, shifting its strategy. By June 30, 2025, it had purchased $1.7 million worth of TAO tokens, all of which were staked—committed to support the Bittensor network and, in return, earn yield. As of Q2 2025, $1.7 million in TAO tokens was reported on the balance sheet. This move is aimed at creating a new source of revenue and value as the company seeks to establish itself in the world of decentralized artificial intelligence. On the capital markets front, the company strengthened its financial footing by raising $6.9 million through a private placement and $1.3 million from warrant exercises in Q2 2025, plus an additional $0.9 million from warrant exercises after Q2 2025. As of June 30, 2025, Oblong held $10.8 million in cash and cash equivalents, and $1.7 million in TAO holdings. This increase in cash contrasts with the company's position at the end of 2024, when cash and cash equivalents (GAAP) stood at $4.97 million as of December 31, 2024. With no debt and total stockholders' equity rising from $4.0 million as of December 31, 2024, to $11.3 million as of June 30, 2025, the company enters the next quarter in a more stable financial state. Looking Forward: Management Outlook and Investor Watchpoints Management did not provide quantitative financial guidance for either revenue or profit. Instead, it indicated a continued commitment to growing its digital asset strategy, particularly within the Bittensor ecosystem. Weekly TAO purchases and exploration of new partnerships are the main initiatives mentioned for the near future. No outlook was offered on expected operating results or dividend policy for upcoming quarters and the year. Oblong does not currently pay a dividend. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,062%* — a market-crushing outperformance compared to 185% for the S&P 500. 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Globe and Mail
5 days ago
- Business
- Globe and Mail
Oblong Reports Q2 2025 Results and Expands $8M TAO Treasury to Power Decentralized AI
Oblong, Inc. (Nasdaq: OBLG) ('Oblong' or the 'Company'), a digital asset treasury company, today announced financial results for the second quarter ended June 30, 2025 ('Q2 2025') and significant progress in its treasury strategy centered on Bittensor's TAO token. With artificial intelligence projected to reach a $1.2 trillion market by 2030, Oblong is pioneering a treasury strategy that leverages TAO to drive financial returns and decentralized AI innovation. Bittensor's network, powered by over 500 active nodes, incentivizes collaborative AI development, positioning TAO as a critical asset for forward-thinking companies. 'Oblong's $8.0 million investment in 21,613 TAO tokens, all staked in the Bittensor network, generates revenue while strengthening our role in the decentralized AI ecosystem,' said Pete Holst, CEO of Oblong. 'Our strategy positions us at the forefront of AI-driven finance, delivering value through strategic treasury management.' Q2 2025 Financial and Strategic Highlights Strong Financial Position: As of June 30, 2025, Oblong held $10.8 million in cash and cash equivalents, $1.7 million in TAO holdings, and zero debt. TAO Treasury Expansion: Invested $1.7 million in Q2 2025 to acquire 5,025 TAO tokens, followed by $6.35 million post-Q2 to purchase 16,506 additional tokens, totaling 21,613 tokens, all staked to generate revenue and support Bittensor's decentralized AI network. Capital Raising: Secured $6.9 million from a private placement and $1.3 million from common warrant exercises in Q2 2025, with an additional $0.9 million from warrant exercises post-Q2. Revenue and Loss: Generated $0.6 million in revenue, consistent with Q2 2024, with a net loss of $0.6 million, improved from $1.0 million in Q2 2024. Adjusted EBITDA loss was $0.7 million, improved from $1.0 million in Q2 2024 (see 'Non-GAAP Financial Information' below). Strategic Outlook: Committed to evaluating weekly TAO purchases and exploring partnerships to develop AI-driven technologies within the Bittensor ecosystem, aligning treasury and operational goals. Strategic Vision Oblong's TAO treasury delivers value to investors through potential share price growth driven by strategic asset management, to TAO holders by enhancing Bittensor's ecosystem, and to the AI community by advancing decentralized innovation. As corporations increasingly adopt digital assets, Oblong leads by integrating AI and finance through TAO's unique role in Bittensor's growing network. Non-GAAP Financial Information Adjusted EBITDA is a non-GAAP financial measure. See 'GAAP to Non-GAAP Reconciliation' below for a reconciliation to net loss. About Oblong, Inc. Oblong (Nasdaq: OBLG) is building a robust cryptocurrency treasury focused on decentralized artificial intelligence (AI) and the acquisition of $TAO, the native cryptocurrency of Bittensor, a decentralized blockchain network for machine learning and AI. By championing open-source intelligence, Oblong offers unmatched opportunities for retail and institutional investors. Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements. Oblong's actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to the Company's plans to: i) deliver value through strategic treasury management and ii) explore partnerships to develop AI-driven technologies within the Bittensor ecosystem, aligning treasury and operational goals. The forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties, including the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, the Company's Form 10-Q filed on August 14, 2025 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong's actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein. June 30, 2025 December 31, 2024 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 10,795 $ 4,965 Digital assets 1,683 — Accounts receivable, net 15 186 Prepaid expenses and other current assets 566 118 Total current assets 13,059 5,269 Other assets 5 6 Total assets $ 13,064 $ 5,275 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable 122 105 Accrued expenses and other current liabilities 1,659 1,131 Deferred revenue 31 36 Total current liabilities 1,812 1,272 Total liabilities 1,812 1,272 Commitments and contingencies (see Note 9) Stockholders' equity: Preferred stock Series F, convertible; $0.0001 par value; $390,000 stated value; 5,000,000 shares authorized, 355 and 545 shares issued and outstanding as of June 30, 2025, and December 31, 2024, respectively — — Common stock; $0.0001 par value; 150,000,000 shares authorized, 1,594,953 and 1,594,764 shares issued and outstanding as of June 30, 2025, respectively, and 1,144,926 and 1,144,737 shares issued and outstanding as of December 31, 2024, respectively — — Treasury Stock, 189 common shares (181 ) (181 ) Additional paid-in capital 244,984 236,458 Accumulated deficit (233,551 ) (232,274 ) Total stockholders' equity 11,252 4,003 Total liabilities and stockholders' equity $ 13,064 $ 5,275 OBLONG, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenue $ 592 $ 611 $ 1,214 $ 1,237 Cost of revenue 364 491 737 1,120 Gross profit 228 120 477 117 Operating expenses: Research and development 3 65 6 115 Sales and marketing 6 57 14 111 General and administrative 902 1,016 1,831 2,093 Total operating expenses 911 1,138 1,851 2,319 Operating loss (683 ) (1,018 ) (1,374 ) (2,202 ) Interest income, net 47 44 73 92 Unrealized gain on digital assets 31 — 31 — Other income, net 78 44 104 92 Loss before income taxes (605 ) (974 ) (1,270 ) (2,110 ) Income tax expense — 9 7 9 Net loss $ (605 ) $ (983 ) $ (1,277 ) $ (2,119 ) GAAP to Non-GAAP Reconciliation: Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net loss $ (605 ) $ (983 ) $ (1,277 ) $ (2,119 ) Other income, net (78 ) (44 ) (104 ) (92 ) Income tax expense — 9 7 9 Stock-based compensation — 31 - 62 Adjusted EBITDA loss $ (683 ) $ (987 ) $ (1,374 ) $ (2,140 )
Daily Mirror
12-08-2025
- Entertainment
- Daily Mirror
Every actor tipped to play Voldemort in HBO's Harry Potter series
A new star has emerged as the frontrunner for the HBO series There is a new favourite star to be cast in a key role for the upcoming HBO Harry Potter series. Most of the main stars have already been announced, including the young upcoming actors who will take on the parts of the titular character alongside best friends Hermione Grainger and Ron Weasley. They are already joined by iconic comic actors John Lithgow as Albus Dumbledore and Nick Frost as Hagrid. Announcements were already made by the studio in decisions to cast Paapa Essiedu as Professor Severus Snape. However, it is still not confirmed who will take on the villain of the series, Lord Voldemort. A Marvel and Succession star has now been installed as the favourite to take on the part. It comes after casting news for a new audiobook series. Audible have revealed that all the books will receive Full-Cast Audio Editions. Previous audiobooks for the Harry Potter novels were previously narrated by Stephen Fry but these new versions will have a full lineup of stars playing each character. This includes Matthew Macfadyen as Lord Voldemort and as a result, he is the new favourite to also play the role for HBO. There is also Hugh Laurie as Albus Dumbledore, Riz Ahmed as Professor Snape, Michelle Gomez as Professor McGonagall and Cush Jumbo as narrator. The theory behind Macfadyen eventually being cast for the television show, which could run for up to 10 years comes as Arabella Stanton, the young actress who will portray Hermione Granger in the HBO series, will also be voicing the character in the first three instalments of the Audible audio series. According to OBLG, the actor who played Tom Wambsgans in HBO's hit drama series Succession is now evens to also play the role on screen. This puts him as the current out and out favourite. He's not the only big name star in the running though. Fellow Marvel stars, a former Doctor Who and an Oscar winner are also reported to be in consideration. The current odds are: Matthew Macfadyen 1/1 Matt Smith 3/1 Paul Bettany 3/1 Cillian Murphy 4/1 Tom Hiddleston 5/1 Cillian Murphy is a rank outsider as it stands, after the Irish actor picked up an Academy Award for his turn in Oppenheimer. He was recently given the stamp of approval from, Ralph Fiennes who played the part in the films. Speaking on a US chat show he said: " Cillian is a fantastic actor. That's a wonderful suggestion. I would be all in favour of Cillian." Notably, Fiennes only debuted as Voldemort from the fourth film when he is first seen in his true form, with Richard Bremmer portraying he who must not be named when he is hiding on Professor Quirrel's head. Meanwhile, Murphy is also being tipped to be cast as the next James Bond villain.
Business Insider
21-06-2025
- Business
- Business Insider
Oblong files to sell 4.18M shares of common stock for holders
17:30 EDT Oblong (OBLG) files to sell 4.18M shares of common stock for holders Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
