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Jun 30, 2024
Remark Holdings Q2 2024 Earnings Report
Remark Holdings' financial performance improved with increased revenue and decreased operating loss in Q2 2024.
Key Takeaways
Remark Holdings reported a revenue increase of 16.8% year-over-year, reaching $3.7 million in Q2 2024. The company's operating loss decreased by 18.8% to $3.2 million. The net loss was $5.3 million, or $0.12 per share.
Revenue for Q2 2024 increased by 16.8% year-over-year to $3.7 million.
Operating loss decreased by 18.8% to $3.2 million in Q2 2024.
Net loss totaled $5.3 million, or $0.12 per share, for Q2 2024.
Cash balance increased to $0.4 million as of June 30, 2024.
Remark Holdings
Remark Holdings
Forward Guidance
Remark AI is focused on converting opportunities into revenue by delivering computer vision solutions and customer service. They are negotiating contracts for the second half of 2024.
Positive Outlook
- Clark County School District approved a $5 million weapons detection contract.
- Remark AI showcased solutions at the NYC Smart City Expo.
- Remark AI completed migration to the Microsoft Azure Platform.
- Completed POC at a headquarters train station for a large European railway system.
- Completed successful POC for Migrant Center in one of the largest Sanctuary Cities.