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Jun 30, 2020
Vislink Q2 2020 Earnings Report
Reported an increase in revenues and a narrowed net loss, with EBITDA improving compared to the first quarter of 2020.
Key Takeaways
Vislink Technologies reported an 11% increase in revenues and a $3.5 million improvement in EBITDA compared to Q1 2020, marking their best financial performance since the company's IPO. The company has completed the first phase of its turnaround, focusing on cost reduction and fiscal discipline.
Revenues increased by 11% compared to the first quarter of 2020.
Net loss narrowed and EBITDA improved by $3.5 million compared to the first quarter of 2020.
Company has rightsized the organization across its four solution areas.
Completed the first phase of the operational turnaround.
Vislink
Vislink
Forward Guidance
Vislink has stabilized its financial and operational foundations and is embarking on the second phase of its operational turnaround, which will include increased operational efficiencies and capital allocation to growth opportunities.
Positive Outlook
- Focus on increased operational efficiencies.
- Capital allocation to growth opportunities.
- Rightsized the organization across four solution areas.
- Ongoing focus on fiscal discipline.
- Significant improvements in operations.
Challenges Ahead
- Challenging business environment caused by the effects of the COVID-19 pandemic.
- Forward-looking statements involve substantial risks and uncertainties.
- Statements are based on management’s current expectations.
- Company may not actually achieve the plans.
- The Company specifically disclaims any obligation to update these forward-looking statements publicly.